One of the ways you can sell your home is by putting it up for auction. Here are some pros and cons to using an auction to sell your home.
There are definitely some pros and cons to using an auction to sell your home.
First, the pros.
Why would you want to consider using an auction to sell your home? The key to selling is getting people to all want the same thing at the same time, which generally drives up the price. That is exactly what an auction does, as it brings a number of people to come to see that property.
Instead of potentially dragging out your market time, you have one big pop.
YOU NEED THE BEST POSITIONING, BEST MARKETING, AND BEST EXPERIENCE.
Now, onto the cons.
There is a good possibility that you will be very nervous. You’ll ask yourself what happens if it’s not done correctly, how will this affect our market time, what happens after the auction if I don’t get a sale, and will there be a stigma attached if we can’t sell the opening weekend?
There is no right or wrong answer. It depends on the best positioning, the best marketing, and the best experience that you can put forth to be able to push that property in the right direction.
If you have any other questions about auctions or have any general real estate questions, please feel free to reach out to me. I look forward to hearing from you soon.