Due to the problems with the housing market, people who live in luxury estates have to find different ways to sell their property. While they can sit on the stalled property and wait to negotiate a price with a potential buyer, most people who want to sell want to be able to do so in a reasonable amount of time. That is why auctions are appealing. While other companies may not have Grand Estates Auction’s success rate of 94%, there have definitely been increases in the demand of auctions over the past few years.
Our own Stacy Kirk Reich was quoted in a recent article on Bloomberg:
“Sellers will come to us for various reasons, maybe the death of a loved one or a divorce, but most frequently because they are reallocating wealth to other locations.”
In fact, while our number of buyers has risen 130% since 2006, only 12% of our auctions are the result of financial distress. Most of the time, our sellers come to us because they are ready to move on with their life, make investments and a living elsewhere, and they do not want to wait any longer to sell. If you find yourself in a similar predicament, call us today at (877) 431-0910 to learn more about the Absolute Auction process!
Source: Wealthy Use Auctions to Sell U.S. Mansions After Price Cuts Fail
Photo Credit: Grande Estates Auction