Transacting real estate can be a stressful experience! How much should you price your property at? How much should you offer? Is the first offer the best offer and has everyone that could want to buy your home been allowed enough time to compete to purchase it? Today, the greatest challenge is knowing when the best offer is the best offer.
The auction method is employed to sell fine art, unique jewelry, collectable automobiles and fine racehorses. These items all have in common that they are of high value, sought after items that are hard to price. Why do we treat real estate so differently? In Vancouver currently, real estate is arguably more sought after than collectable cars and fine art, and even more difficult to price.
The expectation that everything sells above asking price is frustrating for buyers and realy just turns negotiation into a blind auction with no transparency.
Harcourts do not endeavor to ‘get rid of’ the traditional real estate process, in fact they still transact over 50% of all real estate transactions by non-auction methods. Harcourts simply provides a proven and tested alternative to the traditional real estate negotiation practice.
Auction is not a new concept, Harcourts would know. Founded in 1888, Harcourts actually commenced as a real estate auction house. 129 years on, Harcourts sold over $32 billion dollars worth of real estate last year including over 12,000 trasactions of non-distressed real estate by auction.
Sellers will not have to face the nerve racking experience of pricing their home, they will be able to use auction to find out what the highest price the market will pay, the process results in a negotiation up instead of a negotiation down.
At Harcourts its about getting the best price, not neccesarily the first. The Harcourts team are fully trained on the process, they are able to help sellers to sell being fully informed to make great decisions.
Auctions provide buyers with the exciting opportunity to purchase in a completely transparent and genuine public forum. At auction you will be able to see your competition, giving you the option to bid higher or walk away.
All Harcourts Auction properties will see the following:
- No Buyer Premium
- Full commission sharing to co-operating broker
- Full disclosure to Buyers
- Ability to purchase prior to auction
- A professional environment to conduct auctions.