Here are 3 simple questions that can help you determine if your listing qualifies:
READY – Does your client have a time-sensitive reason to sell? This could include such “life changing events” as: a job transfer, closing on another home, a death in the family, a move to a retirement home, down-sizing, relocation, financial obligations or divorce. If your client has a limited time period in which to sell, the auction method is an option worthy of consideration!
WILLING – Is your client realistic in their expectation of market value in today’s current market conditions? Many sellers continue to price their properties based on a seller’s market. Today, the “opinions” of market value are more subjective than ever. In the previous market, values were chasing rapidly appreciating sales and very low inventory levels. Today the market is the opposite; opinions of value are now chasing a declining market. With high levels of inventory and pricing levels based on a previously heated market, many sellers can’t understand why they still are not selling, even when they are priced well below the competition.
If your client realizes that an alternative method is a better way to go given the shift in real estate market conditions, and is willing to price the property competitively to draw the buyers in, the auction method of marketing real estate is a viable option.
ABLE – Does your client have a fair cushion of equity in their property?
This question alone will not make or break an AUCTION CPR candidate, however, many seller’s in today’s market either bought their homes at the height of the market with little down, or pulled equity out of their homes as it appreciated. The “ABLE” portion of the AUCTION CPR equation relates to the seller’s ability to accept true market value on auction day. The auction method will achieve the property’s true market value by bringing all the interested parties together, on the same day, to actively and competitively bid on the property.
If you answered “YES” to all 3 of these questions, then
for more information on how the AUCTION CPR program can work for you.
