Auction Listings vs Traditional

1. What is an Auction Listing? 

The term "Listing" refers to a home for sale in the Multiple Listing Service (MLS). Auction listings are proactive marketplace disruptors that provoke the market into producing the highest possible selling price in the shortest amount of time by exponentially increasing market exposure and driving up buyer emotions.

As an alternative to traditional listings, Auction Listings are managed by Harcourts Auctions accredited team members on a proprietary platform with a proven track record of over 130 years of success, all over the world. 

The goal of our auction team is to produce the highest possible market price and the best results for our client, the seller. Harcourts Auctions  promotes luxury properties for sale at market prices and does not list distressed property for sale by auction. 

Harcourts Auctions listings are published in the MLS at a low starting bid price. 

2. What is a traditional listing? 

A traditional listing is the same kind of listing you've seen the industry use since the dawn of time. It is what every real estate agent you know is prepared to do with your home. Place the listing on the MLS, put a sign in the yard and hope for success. 

It's more of a "hold and hope" strategy that stays active as long as it takes with no urgency and no end in sight and with possible price reductions along the way. 

Traditional listings are published in the MLS at a market high, list price.

1. What do Auction Listings look like? 

Auction listings are marketed in a most elevated manner and with the highest standards possible. Only the most talented professional photographers and media specialists are employed to assist in marketing Auction Listings. Harcourts Auctions does not list distressed properties.

2. How do buyers find Auction Listings? 

Auction properties are listed with an accredited Harcourts Auctions listing agent and published in their member Multiple Listing Services (MLS) and simultaneously syndicated to hundreds of websites like Zillow and Auction listing get hundreds more views on these sites due to their low starting bid prices.

3. What if a buyer prefers the traditional method?

Buyers and their agents can write a traditional offer to stop the auction and enter into a traditional escrow process if their offer is accepted by the seller, prior to auction day. 

4. Are non-contingent offers required?

Harcourts Auctions listing agents will prepare a property for sale by first having all inspections and seller's disclosures produced and make them available on day one to all interested parties. Buyers can bid in confidence with all due diligence in hand or they can request to have their own inspections done during escrow. Traditional mortgage financing and other contingencies are allowed upon request.