The Auction Advantage


An exlusive marketing platform from

Chart

First, let's look at a standard listing

A standard listing is
180 days

On average, a listing in California spends
55 DAYS ON MARKET

Even with this much time, the likelihood of selling is only
50%

Let's Compare that to a Harcourts® Auction

A Harcourts® auction takes an average of
27 days

The average likelihood of selling is
93.8%

Standard Listing vs. Harcourts® Auction

Likelihood of selling...

93.8% vs. 50%

Standard Listing vs. Harcourts® Auction

Days on Market

55 vs. 27

Question?

Would you prefer to list your home for
55 days or more with only a 50% chance of selling
or just 27 days with a 93.8% chance of selling?

Now let's talk about happiness

Typically, when a salesperson produces a result in
45 days or less the client is

HAPPY

Now let's talk about happiness

After 45 days the relationship usually becomes

STRAINED

Do you want to work in the Happy Zone
or in the UNHAPPY ZONE?

What is a Harcourts® Auction?

First, it's not like a distressed property auction.

We use a RETAIL auction platform.

So what is a retail auction?

Retail Auctions are used to sell things like

Fine Art

Exotic Cars

Jewelry

Grand Estates

So What do these auctions have in common?

  • They are are not distressed sales.
  • These auctions are performed to achieve the highest price.

Now let's go back to a Standard Listing

The basic method for a standard listing is to...

Start the price high to build in some room for negotiation


...and then work the price down.

The problem with this method

  • Everybody knows the comps.
    Information is freely available on the internet.
  • When a home comes to market with "negotiating room"
    Buyers just see it as overpriced, and don't rush to see it.
  • When Buyers do make an offer, they start very low.
    This often offends the Seller.

A Harcourts® Auction reverses this process

We typically start at 10-20% below comps.


The only direction to go is up, with no ceiling.

This means that...

  • Buyers in the marketplace rush to see it.
  • 80 – 120 people come through in 30 days
  • We often achieve higher than comp sales price. With a 36.1% increase from the opening bid price.

So how do we get the
highest price for an item?

The Value of competition.

When multiple people want it at the same price,
this drives the perceived value higher.

Higher Demand + More Competition =
A Higher Sales Price

misconceptions

A Harcourts® Auction is a strategic process, not just a one day event

The success of an auction is not always determined by whether it sells on the auction date.

It's actually quite the opposite.


37.2% — of homes Sell before the Auction

47.5% — Sell at the Auction

9.1% — Sell within 2 weeks of the Auction

The auction platform isn't limited
to certain types of property

Auctions work for many different listings.

Expired Listings

Homes that expired or previously failed to sell.

44% of retail auctions are expired traditional listings.

New Listings

56% are new to the market.

More Benefits

Convenient for the Seller

  • No Lockbox
  • 2 Open Houses per week
  • House only needs to be kept "show ready"
    for small pre-set times
  • Harcourts Agent present at all showings
  • All disclosures up front
  • Non-contingent sale

Zero Risk to the Seller

  • Minimum opening bid
  • Pre-set reserve price
  • If the reserve isn't met, then the seller loses nothing.
  • Only a 30 day Process

The Seller benefits
even without a sale

  • Within 30 days or less, the seller know's exactly what the property will sell for in the current market.
  • The high volume of traffic enables a rapid collection of data to inform decisions.
  • Traditional sales are slow, and do not provide the same traffic and feedback to determine market value.
Harcourts Auctions

Fast, Convenient, Risk Free

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