A Real Estate Auction Could Work For You

Gordon’s Estate Services is one of a handful of Real Estate Brokerages in Ontario that offers its customers the choice and the opportunity to use the auction or tender method to sell their property. Gordon’s Estate Services is by far the oldest, most experienced and leading company in the real estate auction category in Ontario, having successfully sold over 2,000 properties by auction.

A real estate auction can be a live or online event. Either way, the process is open, transparent and competitive. Buyers arrive at a fair, market-driven price and sellers realize the best value for their property.

Who should Sell Their Home by the Auction Method?

• Executors - You’re busy, you want closure, you want to know market value was achieved and you want to fulfill your fiduciary duties to the estate.
• Retirement or downsizing - You want to achieve market value quickly and efficiently so you can move on to the next sage of your life.
• Ill health - You want to achieve market value quickly and efficiently so you can take care of yourself, or move where care is provided.
• Owners of unique or extraordinary properties; over-improved properties; vacant properties; multiple properties (connected or unconnected); and those who have already tried listing with no result.
• Property owners in a downswing market that understand selling sooner at the best possible price is ultimately better than selling later at a further deflated price.

What Are the Advantages?

The advantages are different for different sellers, but generally think of it this way. There are three elements of a real estate sale. The price you get, the time it takes to sell it, and the terms of the sale. In a traditional listing you don’t control any of these.

You can’t predict how long it will take to sell, nor what conditions will be in the offer. You feel like you control price, but you really only control the right to say no and then keep the property. The buyer always decides the price. You merely accept or reject it.

In an auction, you control both the time and terms because you set them. And the price is controlled to the same extent seen in the traditional listing with the seller's ability to say no and refuse to sell. The difference with auction is that you are going to employ an aggressive marketing campaign to generate a high degree of interest and use the competition and the professional skills of the master auctioneer to drive the offer to its highest level. So the advantage of the auction is control.

If you are considering selling a property - talk to us about listing it and about the auction option!