Hybrid Sales Method
Love Real Estate & Auction Company offers a hybrid sales platform that combines the traditional sales method with the auction sales method.
The Hybrid platform is designed to offer a property for sale by first utilizing the traditional sales method for a predetermined period. The price of the property along with timed price reductions are set into place before the property is offered for sale. Should the traditional sales platform fail to produce satisfactory results in the allotted time frame, the sales method will then convert to an auction sales platform.
Switching Between Methods
If the traditional sales method does not produce satisfactory results , your sale will convert to the auction method. The auction marketing will commence with the auction occurring approximately 30 days from the conversion date. The auction can either be a Reserve auction or a Reserve auction with is subject to the Sellers discretion.
The hybrid sales platform can be utilized in reverse as well. If your property used the auction sales method when first offered for sale, and the auction reserve price was not met, your sale would automatically roll over into the traditional sales method. Love Real Estate and Auctions will then market the property traditionally until it is sold.
Timing Is Everything!
It is well known that the more “Days On Market” (DOM) works against Sellers for a multitude of reasons. If a property is not sold quickly, Buyers will shy away and this delay will affect the net proceeds from a sale due to the carrying cost Sellers incur, such as mortgage, taxes, and upkeep expenditures
A vacant typically deteriorates much faster than an occupied property. Because of this, the value is directly impacted resulting in a lower sale price and lower net proceeds at closing. Builders and Property Flipper’s net profit is impacted every single day a property is not sold due to the financing cost, taxes, and other operational expenses.
In general, the Real Estate market is extremely sensitive to the time of the year, the weather, and any unexpected changes to the economy from things such as the stock market and world events. The Coronavirus, for example, destroyed the entire Real Estate market in the middle of the prime selling season.
Click on the link below to fully understand how time can affect the sale of real estate.
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The real estate market is ever-changing. A Buyers’ market can become a Sellers’ market overnight. Real estate values are often determined by the season, the economy, and major events taking place locally, throughout the region and around the world. We’re here to guide you though the process and figure out which method is best for you.