Stop Lowering Your Listing Price

Inventories keep rising and values keep falling, making it tougher and tougher to sell at your listing price. It seems the only way to capture the attention of buyers looking for great deals is to lower your listing price or offer concessions – all of which takes money directly out of your pocket. Ultimately if it gets your property sold, then it may be good for you. Still, how much money did you leave on the table?

Would the buyer have paid an additional $5000 if they felt the value was there? How did the buyer even arrive at the price they offered when comparables and appraisals aren’t that accurate? More than likely the buyer looked at your listing price and offered 5-10% below. Then you counter offered and gave concessions, and that is how you arrived at an agreeable sale price.

Wouldn’t it be better if you could generate the same type of interests from motivated buyers, without lowering your listing price? Now you can with Auction By Owner. Auction By Owner helps to accelerate the sale of real estate for owners and agents by telling buyers that you are highly motivated without setting a low MAXIMUM value. Instead you get to keep your home listed at it’s actual value, but let buyers speculate on how great of a deal you are offering – as long as they accept YOUR TERMS OF SALE. An auction forces buyer to maintain their interest throughout the time leading up to the auction. They must perform their due diligence and secure financing before the auction. Most importantly, at the auction they will need to compete against other bidders who are just as interested in your property. Now what they may have perceived as a great deal is only one bid increment above what the next person is willing to pay.

Because this is a reserve auction format, the seller is protected by a MINIMUM ACCEPTABLE SALE PRICE, however there is NO MAXIMUM VALUE…only what the market will allow. You even have the option to accept a winning bid below the Reserve Price. At the point, the buyer is locked in, and that decision is completely yours.

Regardless of the results of the auction, you now have a better understanding of where the market values your property. You also know specific people who are interested in your property. If the results of the auction did not satisfy your necessary terms of sale, there is always the opportunity to negotiate with those bidders under new terms. The auction has helped with valuation and capturing the interest of pre-qualified bidders.

We’ve designed a NO RISK program to allow sellers and agents to test the auction process. Agents maintain the same commission as they would in a traditional sale. Contact Forte Auctions at sellers@forteauctions.com to learn more about auctioning your property.

View our current listings @ ForteAuctions.com