Home Selling in Hull>Question Details

Jeannette Ma…, Other/Just Looking in Cape Coral, FL

I'M THINKING OF AUCTIONING MY HOME IN HULL, MA. IS THIS A GOOD IDEA? HOW DO I FIND AN AUCTION COMPANY THAT HAS A GOOD REPUTATION? THANKS

Asked by Jeannette Macdonald, Cape Coral, FL Wed Jun 26, 2013

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I have had my auctioneers license in two states and have done real estate auctions. There is a way of doing it with a real estate agent without paying the hefty auction fee.

I do this quite a bit with good home with desirable features. It creates an auction like environment.

You determine fair market value of the home then under price it by 5% or so. Make sure all of your marketing is together and youhave high quality photographs and materials. Withhold showing for 4-7 days but list it in the MLS. State in the MLS offers will not be reviewed for X amount of days after the first open house. Your entire market time will be about two weeks and you will have your house sold!

The key factors in making this work are:
-Proper Pricing
-Timing
-Give enough time exposed to the market
-Create desirability with the marketing materials

I just did it on this home http://merrimackvalleymarealestate.com/2013/05/renovated-ran…
1 vote Thank Flag Link Wed Jun 26, 2013
I am a buyer (not broker or investor). Would be interested in knowing ballpark what you are asking and the specifics about the property.
Thanks
Kirstyny@gmail.com
0 votes Thank Flag Link Sun Jul 7, 2013
With the Market going up every day; do you think this is wise?
Are you underwater? Close?
What will you do if you sell it for less than you owe?
Do you know?
0 votes Thank Flag Link Sun Jun 30, 2013
Try this group... Griffin Realty

They apparently have an auction-like methodology

http://www.griffinrealtyhomes.com/default.asp
0 votes Thank Flag Link Sun Jun 30, 2013
If you wish to sell it, I may be interested: carolh230@yahoo.com (I am not a real estate agent or investor, but rather an individual wishing to return to MA).
0 votes Thank Flag Link Wed Jun 26, 2013
I think that when most people think of an auction they think of getting a great deal. In other words, buying something below its market value. If you want to maximize the net money you get from the sale I think listing it would yield you more. I know that most people here answering questions are agents and/or Brokers and it may seem that they would be bias and say list it. But ask around and do some research yourself.
0 votes Thank Flag Link Wed Jun 26, 2013
You will get a better price if you list it with a real estate agent. Most buyers won't be aware of the auction. Those that are will be investors looking for a bargain.
0 votes Thank Flag Link Wed Jun 26, 2013
I think auctioning is often looked at as a last ditch attempt to snag a buyer after all else has failed. Buyers look at it as a way to steal a property if they can. It would not be what I suggest you try, but I guess it must sometimes work out.
0 votes Thank Flag Link Wed Jun 26, 2013
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