Why Harcourts Auctions over Traditional Sale?
All of our Auction homes have the disclosures done up front. This process benefits the transaction in two unique ways. For one, potential buyers can know exactly what they are bidding on by researching the title report, termite report, home inspection, and any other reports and disclosures prior to bidding at auction or placing a pre-auction day "traditional" offer. Secondly, because disclosures and reports have been reviewed, many of the contingencies you find in a traditional sale offer, are no longer there, thus, raising our closing rate to 95%. Tradition escrows fall out 30% of the time. Our seamless and straightforward auction process is crafted so you feel complete peace of mind from start to finish. We don’t just want you to feel secure. We want you to feel at home.
By placing a starting bid that is well below the fair market value, our auction properties generate an enormous reception from buyers in the marketplace. In fact, 96% of our auction homes receive an offer prior to auction day, and usually in multiples (See more stats below). This is one of the ways our sellers are able to leverage the highest market value in the most effective and efficient way possible. We are dynamic, and we are continually evolving to ensure we consistently deliver positive results. To us, results translate into much more than monetary value. Results are about you. Your complete satisfaction is absolutely essential.
Selling at Auction:
Before the property goes live on the market for auction, we work together to set the bidding start amount, deposit amount and close time. Our goal is to draw the largest crowd we can. When we market your property, we stand out from the competition. We go above and beyond to ensure you have plenty of willing and able buyers. Condensing public viewing into a limited number of open houses creates a perception of a greater demand for the property, and it allows us to maintain control over the process. Communication is key! We make sure you receive a weekly communication with the agent and the auctioneer so you're in the loop.
It's likely that you'll receive offers before auction day. Offers prior to auction day allow us to find out the true value of your property. They help us see what serious buyers are willing to pay. It also allows us to leverage the auction date itself, so we can negotiate more in order to reach a successful result. For these reasons, many of our auction properties sell before auction day.
On auction day, several Harcourts Auctions agents and the auction team will be on hand to ensure the process runs smoothly. Auctions conducted by Harcourts Auctions are professional events and are not intended to be stressful. It is a time for you to sit back and watch the hard work, marketing, and process culminate into a competitive arena where you see bidders putting forward public offers to purchase your property. Although preferable, you’re not required to be present on auction day.
If your property doesn’t sell on auction day, don’t worry. There are a number of options available. Often, if several buyers are still interested, we will continue negotiations. Otherwise, after considering market feedback, we can list a competitive price to see a successful sale ASAP. Remember that just because auction day has passed, that doesn’t mean the process has finished and we stop working. Our job is to sell your property. We continue to work closely and strategically with your listing agent until we do so.
Recent La Jolla Auction Sales:
Harcourts Auction Stats: