With an aggressive marketing program out there, sellers of a luxury property will no doubt be exposed to a wide number of pre-qualified buyers from around the globe. Buyers are prepared to put down some money, resulting in an efficient sale. Sellers are thereby able to lower carrying costs in the long term and reduce taxes and maintenance fees. With an open bidding process, the home is guaranteed to be sold at true market value-with the competition amongst buyers, the price at auction sometimes exceeds the sale price. The auction process also allows sellers to have a good idea of when the property will sell. This reduces the hassle of having to schedule showings.
With the world wide web and other means, there are countless ways to sell your luxury property. Options range from traditional agent-assisted selling to owner financing, to lease-to-own, to sell-by-owner, and finally, to auction. When considering selling a luxury home, it’s important to recognize the relationship between what you’re selling and how you’re selling it. For most luxury homeowners, selling by auction is really the only way that’s worth your time, money, and property value. Let’s find out why.
Luxury Homes Need Luxury Selling Options
The property you sell should match the method of selling. A sell-by-owner setup is perfect for homeowners who want to skip out on paying commissions on properties with a lower value. These properties, also known as distressed properties, or properties in low-income, less desirable neighborhoods, or foreclosed homes, are great for these types of sales. The market is perfect in that case for investors who are looking for a deal. These buyers will ultimately flip the property or use it as an investment. Typically, high-end homebuyers aren’t in the market for sell-by-owner properties. They’re looking for luxury homes in unconventional places. On the other hand, ordinary homes are great for traditional agent-assisted selling, but luxury properties need customized methods that are accessible for concentrated buyer pools.
Reaching Your Target Demographic
When selling luxury homes, the market that buyers want is one of superior quality, high standards, and top dollar. The way to do this and reach those high-paying buyers? Through luxury real estate auctions. Marketing to your target demographic entails selling your luxury home in a way that your buyer market understands. This also means that you need to sell your property and promote it in a certain setting with certain people backing it. If you want to buy a luxury item, you go to a luxury car dealership, not a junkyard. The same principle applies to luxury homebuyers–you don’t just look at what your local billboard suggests or the brochures you see in your mail. The real great finds are at mansion auctions.
Auctions Versus Traditional Selling: Here’s More to Love
When you sell your home at a luxury auction, you’re getting way more benefits than selling it traditionally. Luxury property auctions make sense to luxury homeowners because they align with the homeowner’s lifestyle, desires, and needs. Consider the following benefits of opting for a luxury home auction:
A Representative Assists You
When choosing to sell your property at a luxury home auction, it’s important to recognize that you’re not doing this alone. You have a representative to assist you in the selling process from beginning to end. The rep will answer all your questions and concerns, arrange every step of the home auction process, and also engage videographers and photographers to create opportunities for promotion. There is no leaving you at the auction podium here. They’re giving you the personal attention that’s customized to fit your needs and help you beyond what any traditional agent could in the selling process.
Auctions work with you, not against you
When you sell your luxury home through traditional means, the buyer is ultimately in charge of when to sell and when to close. But, if you go through the route of a luxury property auction, you’re in control of setting the date when you want to sell your luxury home. Auctions work in your favor so that you can select a time and date for when you want to sell–it’ll align with your family’s needs, your work schedule, and when you deem, you’re ready to sell. No need to change your schedule. The amount of control you have in traditional selling is nowhere near what you have in auctions.
You’re in Control of the Terms
With traditional agent-assisted selling, you don’t have control of the contract or the details of the transaction. However, with luxury home auctions, you’re in control of the terms because you set them. You can decide how much you want potential buyers to bid. You decide when the buyer has to pay for the property. Your luxury home representative will help you through this process of legalities and payments. Ultimately though, you’re in charge.
Sell Faster
Selling a luxury property and then having to be at the mercy of the buyer’s indecision can be brutal. With luxury home auctions, the immediacy of the purchase allows you to breathe and relax, knowing it’s sold in seconds. Selling your home at an auction sideswipes the prolonged negotiations of traditional home buying and selling. Selling at a luxury home auction allows you to sell as is so that the buyer with the highest price wins. It’s simple and efficient. No negotiation is necessary. No haggling. Only buyers who are in the market for mansions and luxury homes are in attendance.
Overall
Are you in the market to sell your luxury home and interested in doing it with the best method out there–through auction? If so, Platinum Luxury Auctions is here to help. Contact us today to discuss your options and speak with a qualified representative. We look forward to speaking with you and working together to sell your luxury home.
