Selling Your Home: Auction vs. the Open Market
Is listing your property through an auction better than selling on the open market with a REALTOR®? It’s a question the Right Choice team helped one family answer when they were deciding how to sell a large farm property in Wainfleet.
Auctions do happen, but rarely
Selling real estate by auction isn’t common, but it happens from time to time, especially with unique properties like farms. The appeal is clear: people bidding against each other in real time.
The problem: a smaller pool of buyers
An auction happens within a much smaller market. Whether a few dozen or a few hundred people show up, that’s far fewer potential buyers than the open market can reach. Fewer buyers usually means less chance of getting top dollar.
Why the open market usually wins
When a property is properly priced and properly marketed on the open market, you get:
- Exposure on MLS® and REALTOR.ca
- Social media exposure to thousands of local buyers
- Online marketing that reaches buyers outside your area
- REALTORS® bringing their own buyers
Want that auction feel? You can have it on the open market
If you like the idea of buyers competing for your property, you don’t need an auction. Your REALTOR® can price and market your home strategically to encourage multiple offers, creating competition with a much larger pool of buyers.
Educating sellers is part of the job
Before the family decided, the team priced the property and gave them all the information they needed to make the best decision for them. It’s always the seller’s choice, and our job is to make sure it’s an informed one.
Selling a unique property?
From farms to waterfront homes, we’ll help you choose the strategy that gets you the most money.
Call 289-276-1716 or get your home value.
