Why we don’t do Auctions any more.
Through the 1990’s we conducted 100’s of Auctions both on site and in house. Would we do them again? Only if we must and the only time we must is if it is a mortgage sale.
So why did we stop doing Auctions?
We wanted to operate a complete consumer based system where no one gets hurt and no deceptive selling was allowed.
All the answers can be found in consumer advocate Mr Neil Jenman’s books Real Estate Mistakes and Don’t Sign Anything. To read the full story order your free copy on our home page.
Here are the key points of why Auctions are not the way to go in selling your home according to the Book Don’t Sign Anything by Neil Jenman.
- Auctions is the worst method of selling any home.
- The reserve price is your lowest price.
- Auctions start low. That’s the only reason they go up.
- When you hear of auctions selling “above reserve “ always wonder how much they sold under the Buyers’ Highest Price.
- Auctions are used to ‘condition’ and then ‘crunch’ sellers.
- Agents over quote to sellers and under quote to buyers.
- Under quoting attracts buyers who cannot afford your home.
- Sellers are made to pay for advertising.
- Dummy bidding is used to deceive buyers and sellers.
- A set date and time is inconvenient for some buyers.
- 96% of buyers do not like auctions.
- Insist that the agent takes all the risk.
- DO NOT AUCTION