A standard listing is
180 days
On average, a listing in California spends
63 DAYS ON MARKET
Even with this much time, the likelihood of selling is only
50%
A Harcourts® auction takes an average of
38 days
The average likelihood of selling is
91.6%
Likelihood of selling...
91.6% vs. 50%
Days on Market
63 vs. 38
Would you prefer to list your home for
63 days or more with only a 50% chance of selling
or just 38 days with a 91.6% chance of selling?
Typically, when a salesperson produces a result in
45 days or less the client is
HAPPY
After 45 days the relationship usually becomes
STRAINED
First, it's not like a distressed property auction.
We use a RETAIL auction platform.
Retail Auctions are used to sell things like
Start the price high to build in some room for negotiation
...and then work the price down.
We typically start at 10-20% below comps.
The only direction to go is up, with no ceiling.
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
The success of an auction is not always determined by whether it sells on the auction date.
It's actually quite the opposite.
43% — of homes Sell before the Auction
40.6% — Sell at the Auction
8% — Sell within 2 weeks of the Auction
Auctions work for many different listings.
Homes that expired or previously failed to sell.
51% of retail auctions are expired traditional listings.
49% are new to the market.
Fast, Convenient, Risk Free