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

Incoming Inventory

Incoming Inventory

As we slowly make our way into the New Year, the usual speculation about future market conditions continues. Like we talked about last month, there are plenty of market influencers to consider in early 2024 that will set the tone for the rest of the year, like the...

New Year, New Market

New Year, New Market

Happy New Year everyone! Am I the only one who feels like 2024 snuck up on us way too fast?! With the New Year underway, a lot of folks are starting to wonder what lies ahead in 2024 for the Okanagan housing market. Market speculation is always a popular topic around...

Winter Growth Spurt

Winter Growth Spurt

As we head into another winter, the expected rumors and reports of a market slowdown are once again the hot topic in Kelowna real estate. But, speaking from experience, this isn’t an unnatural turn of events. Sales activity in Okanagan housing naturally tapers off...

250-470-0377