Harcourts Prime Properties agent, William Soto, recently sold a 37,000 square foot lot in Anaheim, California for over $1,000,000. This was a rare investment opportunity for a small builder, and Soto sold it through the Harcourts Auctions Platform.
“This sale had unusual circumstances leading the seller to have to sell quicker than expected,” discusses selling agent, William Soto. “So being against a time frame, we had a very small window to get this done right.”
The seller was immediately interested in the Harcourts Auctions process, because this unique property needed a unique method of sale to capture the eye of the market.
“Auction provokes a buyer’s emotion on any real estate transaction,” explains Director of Harcourts Auctions, Ben Brady. “Whether it be a home to live in or simply a great opportunity, auction will always allow the market to expose itself through competition.”
The lot was listed at a starting to bid price of $499,000, received 10 registered bidders, and had 6 offers prior to the set auction date. Upon receiving a non-contingent offer well over what the seller had expected originally, the property sold before auction.
“Having a set auction date put pressure on the buyers, and our particular buyer didn’t want us reaching that date because they didn’t want others to have the chance to bid on it,” explains Soto.
The auction sparked incredible buyer interest creating more involvement, and without a price ceiling, allowed buyers to determine the fair market value of a property. This property exemplified another one of auction’s greatest values, which is competitively driving prices up instead of traditionally negotiating prices down.
“If we would have had a price tag on it, there is no way we would have gotten the price above $1 million,” reveals Soto.
Harcourts USA holds monthly Live Auction Events, all open to the public. The next Live Auction is scheduled for Thursday, May 17th, at their Del Mar Auction Room location; 445 Marine View Avenue, Suite 260, Del Mar, CA 92014.
For more on Harcourts Auctions, visit http://www.harcourtsauctions.us
To learn more about Harcourts USA, visit http://harcourtsusa.com
About Harcourts USA:
With over 840 offices in 10 countries, Harcourts International is one of the fastest growing real estate groups in the world.
Harcourts offers a full range of real estate services, specializing in residential, commercial and rural property sales as well as property management services. Harcourts works closely with affiliate, Luxury Property Selection to offer clients a comprehensive real estate solution.
In 2008, Harcourts launched its charitable arm, the Harcourts Foundation to provide support that helps, grows and enriches our communities. This year, Harcourts celebrated its 130th year anniversary.
Please direct all media inquiries to Emilee Koerner, PR Coordinator at Harcourts USA: Emilee.firstname.lastname@example.org
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