Harcourts USA only conduct live auctions which either take place either at the property or on an off-site location which has been advertised throughout the auction campaign. Our Auctioneer will facilitate and call the auction bidding, just as you would experience at a car or antique auction. We do not conduct auctions via the internet. If a bidder is unable to attend the venue where the auction will take place, we have a number of options available.
Absolutely, our main objection is to sell your property, should an offer be presented which is an amount and on terms acceptable to you, we are happy and this is our job done. All offers made throughout the campaign prior to auction will be displayed to the seller; however, it remains entirely the seller’s decision whether or not they wish to counter, accept or continue down the auction path towards auction day. A large majority of our properties sell prior to auction, as the seller has had an opportunity to gauge feedback on the marketplace.
The only genuine measure of value of real estate is what someone else is willing to pay for a property. An appraisal is merely an informed opinion. An appraisal is not an offer to buy. The real measure of value of real estate, at any given time, is what it will bring under competitive bidding from informed and motivated buyers. Selling via auction ensures you are receiving a public offer at fair market price.
Absolutely. The auction marketing method allows us to expose the property to the marketplace. Throughout the auction campaign the seller has the ability to gain feedback about their property from potential buyers. Occasionally, a buyer may be interested in a property; however, may not feel comfortable bidding under auction terms. In this case a buyer will often make an offer after the auction date. Additionally, if the property does not sell auction day, we have the opportunity to price the property competitively.
Certainly not. It is a misconception that auctions are only used to sell bargain and distressed property. Auctions is a predominate method of sale for many luxury products – including Art, Jewelry, Cars and many more. Auctions for real estate in the United States is a relatively new method; however, in other parts of the world it is the preferred way to sell property. Auctions are the preferred way because they have the ability to reveal the true market value of a property through an open forum of competitive and genuine bidding.
A seller is never under any obligation or force to sell their property at any point in the auction process, the decision to sell always remains one for the seller. Should the auction not achieve a price the seller is comfortable with, the seller is able to market the property as per normal with a price. Nothing has been lost and your property has not been damaged in the auction process because the campaign has only consisted of a couple of weeks and no price has been put to the market, so no harm has been done.