Selling your home can come with a lot of time, energy, and stress on your part. It’s exciting to move on and start a new chapter, but the process of selling your home can feel unpredictable and time consuming very quickly. One of the best ways to alleviate these experiences is through selling your home at auction!
Selling a house at auction is a big decision. Our real estate team feels it’s important to inform sellers about how it works before they dive in.
RE/MAX Auction House is a team of experienced, full time real estate professionals advancing the industry with online real estate auction. With over 40 years of combined experience, we’re dedicated to understanding both the property and the people involved in each listing.
Below, the team at RE/MAX Auction house discusses the process, timeline, and benefits of selling a house at auction.
Selling a House at Auction: How It Works
At RE/MAX Auction house, we have an established process for helping you sell your home or property at auction. Below is an overview of how this process works.
1. Property Identification
Before listing at auction, we always take the time to get to know you and your property. This is essential to us to be able to serve you efficiently and in your best interest.
Our team works to understand your goals and expectations for selling your home at auction. We also take the time to learn everything there is to know about the listing in order to accurately and best represent it for online auction.
After listing with us, we will introduce you to every step of our unique auction process and answer any and all questions you may have. You will not be left in the dark at any stage during this; our team members are always there to help educate you on everything you need to know to feel informed and comfortable through the process.
Depending on your property type and condition, we will get high-quality, professional photos taken for the online auction listing. We’ll use our professional insight to best showcase your home through photos since they can be an integral part of a listing.
We will craft an individualized marketing plan for your listing. When listing through RE/MAX Auction house, your property will be syndicated to all major websites where buyers are searching, such as zillow.com, realtor.com, etc. You don’t want to miss out on a potential buyer because you aren’t listed on a particular site; this is why we push your property listing out to so many other sources.
The second key component of our marketing plan for your property is our in-house real estate agents themselves. They will gather the most vital information about your listing, including what makes it special and how it’s been a home to you.
This information is integral in all copywriting for your listing, including how it is portrayed on all other websites where it’s listed, auction listing, and promotional materials. Our agents also carry this over into photo and video creation for your property. We focus all digital content in a way that best showcases the story of the listing’s unique qualities, as well as creating a future vision for potential buyers.
The team RE/MAX Auction house will be with you throughout the process of selling a house at auction. Open communication throughout the auction is fundamental to our process, ensuring an efficient approach.
We will help you complete the closing process by making sure everything is handled with careful consideration. There is a 10% buyer’s premium for our auctions, so you will not have large seller fees on your end. Once the auction ends, our professionals get any necessary information and paperwork to you. You will quickly receive your funds from the auction.
Timelines for Selling a House at Auction
One of the biggest benefits of selling your home with RE/MAX Auction House is that you will have an established, fixed timeline. Essentially, we will agree upon an amount of time for the auction’s selling window, and this will not change. Unless the selling price doesn’t meet your established minimum, your home will be sold within this timeline.
The fixed timeline gives you the peace of mind knowing you have a proper amount of time to make life arrangements surrounding the sale of your property. Our sellers really appreciate the established timeline; they don’t feel like they’re in an unknown amount of time between selling, buying, and other life events.
Typically, the timeline for selling a house at auction is as quick as 30 to 90 days total to get under contract and closed. Technically speaking, your property can be listed within 24 hours, depending on the property type, condition, if we need to have photos taken, etc. With RE/MAX Auction House, we will establish a timeline that fits your needs and best suits your property and goals.
The Benefits of Selling a House at Auction with RE/MAX Auction House
You know the exact day your listing will sell.
With a fixed timeline, selling a house at auction is a lot more dependable. By knowing the exact day the auction closes. This gives you more time to plan for your future endeavors instead of worrying about when your home will sell.
You can get the highest market price through auction competition.
The most lucrative part of selling a house at auction is the higher chance that your listing will get its highest market price. This happens because of two traits unique to auction.
- Increased competition between buyers drives the price. With traditional selling, buyers go in with offers without much (if any) insight into bidding competition from other buyers. This makes for non-competitive bids and not a lot of movement between price points of buyer offers. At auction, there is more competition because of the fixed timeline, as well as buyers’ insights into other bids.
- Bid transparency gives buyers motivation to stay in the running. In an online real estate auction, the price of bids is available for everyone to see. This is a win-win for buyers and sellers alike. Buyers can bid with confidence by knowing their bid is competitive. Sellers benefit from the fact that bid transparency often leads to increased competition, resulting in the highest market potential for a listing.
Detailed Listing Information
Our real estate experts know exactly which details are important to emphasize in your listing. Taking the time to be thorough, we will understand everything that makes your property unique and attractive to buyers. Our team uses detailed listing information as an opportunity to showcase specific elements of your property.
Online auction opens up the buying pool in numbers by including buyers in other areas. Our tailored marketing strategy and promotion of your listing to 25 other major websites combine to generate maximum exposure to potential buyers.
Controlled Traffic in Your Home
It can feel invasive and inconvenient to frequently have people coming in and out of your home for viewings during the selling process. We have a few ways that this can be minimized when selling at auction.
With so many details, photos, and in some cases video, it makes it much easier for buyers to decide if they want to view your property in person. This in turn limits the amount of people who would come to an in-person viewing to those who only have serious interest. In general, we can limit the amount of showings and other events that may cause inconvenience to you as the seller.
Additionally, we have inspections made available on the front end (when available), so there will be no tiresome inspections for finalization of the auction sale.
Sell in Present Condition
Whatever your circumstances, if you don’t want to spend time, money, and energy renovating for selling a house at auction, you don’t have to. Many homes sell in present condition at auction, and it may be the best option for you and your individual needs.
Professional Real Estate Advice and Insight
When you’re selling a house at auction with RE/MAX Auction House, you get a team of industry experts who will give you advice and insight. If you want to know if there’s something you could change prior to auction to get the highest market potential, we can tell you. We can strategize with you as a seller to meet your goals for your listing.
About RE/MAX Auction House
We’re a group of real estate agents who have deep roots in the industry. Members of our team have been proudly associated with RE/MAX for the last 40 years. In that time, we’ve grown to have a unique depth of understanding for the highest potential of a property.
We believe we can make buying and selling property more accessible. By creating a simplified experience for buyers and sellers, we’re advancing the real estate industry through a 21st century online auction process.
Get a complimentary property assessment from a real estate professional today.
We offer complimentary property assessments so you can get an idea of your listing’s potential. Using our background of experience and industry insight, we’ll provide an informal assessment of your home’s value at no cost to you.
You can also get in touch with one of our real estate professionals and we’ll do our best to answer any questions you may have. Contact us today to learn more about selling a house at auction with RE/MAX Auction House.