How do you determine the listing price?

In one of our auctions, the listing brokerage is pivotal in helping you figure out the best price at which to list.

Most importantly, you are included in the process. Your brokerage will appraise your property using recent comparable sale statistics, additional market data, and potentially other appraisal methods (cost to replace...etc.) should they be necessary. does not dictate the listing price, however there are some necessary rules of thumb:

  • We will not list an auction at a starting bid that is higher than our appraised market value (this would not lead to a reasonable expectation of bidder participation)
  • We will not list an auction for a price considerably lower than appraised market value (going too low fictitiously creates a price level that is not in accordance with the value of your home, and could result in many bidders without a budget to reach your reserve price)
  • Your reserve price (where applicable) must be reasonable, and not greater than the appraised market value. Having a reserve price higher than appraised market value creates a situation where it is unlikely to see a sale consummate, and ultimately becomes unfair to all parties involved.

In an event where the above conditions are not met, it is not advisable (and often disallowed) to list in an auction with The The premise of an auction is competition and fairness, and when potential bidders are trying to reach a number that is not reasonable, the process does not work in the best interest of the seller.

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