"Why is my luxury property listing not selling?"
It is very likely that your luxury real estate market is slowing down, especially if you're in New York, San Francisco, Miami, Aspen, Hong Kong or London. Asking prices are falling, average days on market are climbing. Case and point…
- 24% Increase - Days on Market, Manhattan1
- 19% Decrease - List vs. Sold Price2
- 30% Increase - Days on Market, California3
Turbulence in overseas stock markets, falling currency values, low oil prices and varying economic outlooks have all impacted the demand for high-end mansions, penthouses and vacation properties around the world. During the Institute’s 2016 Leaders in Luxury event, Maverick Commins, recipient of the Listing Achievement Award, examined an emerging paradigm shift within the luxury market to combat this slowdown.
“Once reserved for rare artwork (Monet nets record breaking sale for $81.4 Million at Christie’s auction) and classic cars, luxury real estate auctions are now an integral tool for the market’s top agents,” said Mr. Commins, CEO of Supreme Auctions®. “Agents that do not explore this process not only lose their luxury listings that continue to sit, but miss opportunities altogether where agents offer a luxury auction option upfront as a differentiator.”
We’re hearing directly from owners who are attracted to an auction’s accelerated sales process, which reduces holding costs and eliminates the uncertainty of when their home will sell. Qualified buyers are drawn to the opportunity, knowing they can bid at their price with the certainty that the property will sell. Auctions produce results, while agents retain their full commission at the close of escrow (with Supreme).
If you have a luxury property that is not selling, or you want to add another tool to differentiate yourself from the growing competition, we invite you t0 explore the accelerated marketing method of a luxury real estate auction. Here's where you should start:
- Search for companies with a stellar reputation, cutting edge marketing programs and a successful track record.
- Ask for references and make your selection based on facts, integrity, trust, experience, and results.
- Do your due diligence, as not all auction companies are the same.
The auction process has been around for centuries but the methods of marketing a luxury real estate auction are changing at a rapid pace. Don’t miss this growing paradigm shift and learn how the messaging and benefits of an accelerated sales process can offset a slowdown within the luxury real estate market.
As a Member of the Institute working in the top tier of the luxury market, Supreme Auctions would like to offer you a complimentary property consultation, including a detailed luxury real estate auction orientation. Supreme-Auctions, the industry’s leading auction firm, offers the most current systems, resources and experience to make sure your real estate auction experience is an exceptional one.
Call (866) 929-2243 or visit www.supreme-auctions.com today for your complimentary copy of “The Ultimate Guide To the Luxury Auction Process.”
About Supreme Auctions
Supreme Auctions is a leader in luxury real estate property auctions, providing proprietary accelerated marketing services unique to each distinctive property represented and sold. With 15 offices across the United States including Hawaii and an office in Costa Rica and London, UK, the company has a dedicated team of auction marketing professionals that provide decades of expertise, integrity, and knowledge. Supreme Auctions provides the highest level of service to both sellers and buyers of multimillion-dollar luxury properties by combining experience with the most current technology and marketing resources. The company offers sellers and luxury brokerages nationwide the appropriate auction strategy to ideally suit each exclusive property, providing services that are unparalleled in the real estate auction industry.
Maverick Commins Wins Listing Achievement Award
- Properties $4+ Million, 2016 vs. 2015 – Olshan Realty Inc.
- 2015 Luxury Sales – survey of top sales in 100 luxury markets worldwide
- $3+ million, Q1 16 vs. 15, California Association of Realtors in Los Angeles