The Auction Advantage
An exlusive marketing platform from
First, let's look at a standard listing
Let's Compare that to a Harcourts® Auction
Standard Listing vs. Harcourts® Auction
Likelihood of selling...
91.6% vs. 50%
Standard Listing vs. Harcourts® Auction
Days on Market
63 vs. 38
Question?
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?
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 27.2% 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.
43% — of homes Sell before the Auction
40.6% — Sell at the Auction
8% — 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.
51% of retail auctions are expired traditional listings.
New Listings
49% 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.
Fast, Convenient, Risk Free