Call Us Today: 1-626-437-1311

Is there a need for sellers to use an Auction Company?

By in Uncategorized with 0 Comments

Today as I was doing some work on the MLS for my listing sale in Alta Vista in Monrovia. I noticed a property that I didn’t actually notice on the market in town. It was a listing on Hillcrest that was a comp for my listing on Alta Vista. Similar home size and similar lot size… I looked further and it was being sold by an AUCTION company.

This company was from Los Angeles, didn’t do any real marketing and the property was unavailable to preview. (Yes it was on the active list while it had been pending for 2 weeks) The property sold at a VERY LOW price. Id say it is at least $40,000 below market for this home.

Homeowners… PLEASE, PLEASE, PLEASE, remember Realtors work hard to sell your home at the highest and best price that will close. If you are trying to save a couple dollars we understand, our commissions are negotiable. In this case I expect the seller lost out on about $20,000 net because they didn’t get the best price.

In todays market there is no shortage of buyers out there so the need for an auction sale really doesn’t exist in the LA Basin. My listing on Alta Vista closes next week… WAY over asking price. This one should have too.

Share This
About The Author
John Rizzi

A full time Real Estate veteran, expert in marketing, advertising and public relations with a background including major Hollywood studios, senior management in a high tech Professional Services team and principal at his own ad agency for more than a dozen years. John has developed a keen skill-set in negotiations as well as expert knowledge in how to market properties. His greatest strength is learning what a client wants and needs, finding it and closing the deal for that client. Cutting edge concepts provide his clients with the homes they want and a lifestyle they deserve. John's extensive knowledge of the Foothills and Greater San Gabriel Valley comes from a lifetime of experience. A native to Los Angeles and raised in Alhambra - "The Gateway to the San Gabriel Valley". He attended public schools in Alhambra and went on to attend Pasadena City College... later transferring to Cal State Long Beach where he received his Bachelors Degree.Currently, John has served as the Arcadia Association of REALTORS Marketing Committee Chairman, Internet Development Committee among others.

Leave a Reply

Your email address will not be published. Required fields are marked *