Auction vs. Realtor

Auction vs. Realtor

Oct 16, 2017 | Local, Real Estate

Earlier this month, Kelowna made international news when a mansion previously listed at $6.5 million was put up for auction by Platinum Luxury Auctions. The 10,000 sq. ft. home, set on a scenic 14.5 acre lot, sold for $3.27 million – just over half its valuation – showing the level of risk involved when using non-traditional methods to sell your home.

An article from Forbes Magazine outlines some of the best reasons to use a realtor to sell property, one of which being that a realtor’s full-time job is to sell your property, and that they have the experience to do so. There are many complicated transactions and processes involved in buying and selling property, and each one affects the other. A realtor can evaluate your home, actively look for buyers, help you stage your house and host showings, while also proving valuable to help you negotiate prices, ensure the documentation is in your favour, and close the deal.

Even though the market has levelled out this month, there’s no reason for your listing not to sell at value. Taking a property to auction is a bold choice that might work well in some cases, but using a realtor ensures you a property marketing infrastructure designed for success.

Additional Reading

A Generational Shift

With living costs in Vancouver continuing to soar, many young professionals who hail from the Lower Mainland are finding that Kelowna is the answer to their struggles. With the benefits of a 7.2% labour force growth, close amenities for a good work-life balance, and...

A Millennial’s Market

Despite a predicted cooling off for the end of 2017, it seems that British Columbia’s market has actually seen an uptick in sales for November! The BC Real Estate Association reported earlier this month that there has been a 20.4% increase in home sales over November...

New Year, New Mortgage Rules

Last year, the OSFI introduced mandatory stress tests for prospective home buyers who were required to insure their mortgage. The idea of these test was to measure whether or not the people looking to borrow could pay back their mortgage even if rates were to rise....

250-470-0377