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Innovative Non-Distressed Home Auction Plan
vs TRADITIONAL MLS Plan
Compare your options to see how an auction
may be a better choice when listing your property.
Of course, you can SWITCH back and forth
from each plan if necessary.
(the seller in THIS auction platform has the right to
ACCEPT, COUNTER, or REJECT the highest winning bid)
OUR NON-DISTRESSED AUCTION PLAN
The SELLER pays 0% listing commission as the BUYER covers that as a buyer's premium. The SELLER just pays 2.50% commission to the buyer's agent. However, the SELLER could request more (or even all) commission to be paid by the BUYER to further reduce or even eliminate the SELLER'S commission.
The usual real estate total commission charged to the home sellers is 5% to 6%+ (OUR competitive commission is a seller's agent commission of 1.50% and 2.50% for the buyer's agent commission, so 4% total commission by using us).
Auctions have a bidding to start from price, allowing a negotiation up.
Traditional listings have a for sale list price.
The marketplace does not know the seller's expectations or their final number.
The list price immediately tells a buyer what the seller will accept.
There is no ceiling to the value.
Buyers will always try and negotiate an offer below the list price.
The market decides the value.
Buyers are focused on how much less they can buy your property for and how much they can negotiate your list price.
Buyers are focused on what the property has to offer without the distraction of a list price.
If the property isn't selling the only option is to reduce the price.
Auctions are subject to a sellers confidential expectation/reserve allowing a seller to be in complete control at all times.
In a traditional sale the buyer knows your reserve price, because it's your list price.
During the auction process the seller is in control and the seller dictates the terms.
During the traditional process, the buyer is in control.
Auctions have a set sale date, auction day.
Traditional listings are marketed without timeline and with no set date for sale.
The set date tells buyers the seller is motivated to sell, although not desperate.
Traditional marketing can be described as a passive approach with no set strategy.
Forces buyers to make a decision and creates a sense of urgency amongst buyers.
Can take months to obtain valuable feedback and discover market value.
Buyers are more likely to view an auction property before a traditional listing, allowing us to captivate the entire market.
No set date means buyers are not forced to make a decision.
Set date allows market value to be found quicker as the process creates urgency and encourages buyers to make an offer for fear of missing out.
Buyers keep looking at other properties while watching the sellers property continuously sit on the market. Buyers will wait for a price reduction because they have no call to action.
Viewings and showings are restricted to OPEN HOUSE times only to further assist qualifying interested buyers.
Listing agent may put a lock box on the property and allows buyers to go through the property at any time.
Listing agent is always in attendance during showings to sell the home and defend any feedback.
Buyers permitted to view the property alone - gives them a feeling that they are the only ones interested in the property.
Agents able to monitor feedback from buyers as all OPEN HOUSE attendees must give their information before entering the property.
Interested parties must view all within the same OPEN HOUSE.
Agent has a disconnect to the buyers feedback as they aren't present during the viewings and do not understand the true features and benefits of the property.
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