Auction vs. Realtor
Auction vs. Realtor
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
Summer Market Summary
Looking to take the leap into the Kelowna Real Estate market? This summer just might be the best time to do it! Our local housing market has been the ‘talk of the town’ in Canadian real estate for as long as I can remember. It comes as no surprise that our amazing...
Growing Pains
The Kelowna housing market has been the hot topic in Canadian real estate for quite some time now. Between red-hot covid markets to short term rental restrictions and everything in between, our community has seen a lot of change take place in the last few years. As...
Rentals Under Review
The long-discussed and anticipated day has come - as of May 1st 2024, short term rental restrictions in BC have come into effect. This newly introduced regulation, set forth with the goal of prioritizing long term rental options in BC and combatting climbing cost of...