Most people hear real estate auction and imagine something like A Christmas Carol—auctioneers in top hats slamming gavels in front of foreclosures, awarding homes to high bidders well below market value. It’s a popular image—but it’s not really how auctions work today. At least not with Xome®.
When you sign-up through 4SaleByOwner.com, its strategic relationship with Xome allows you to auction your property online—but the decision to sell isn’t left up to a guy with a gavel. You still retain the right not to sell—so there’s no risk if the auction doesn’t reach a price you’re comfortable with.
That’s one of several online auction myths that can cause home sellers to overlook the value of real estate auctions. Have you heard that auctions:
- … cater strictly to investors? They don’t.
- … are intimidating or confusing? They don’t have to be.
- … have to be physically on-site? Nope—just online. You can buy and sell from your kitchen table.
Why Sell Your Home at Auction?
Increased Financial Potential
10 out of 10 mathematicians agree: 0% is less than 6%–and that’s true with real estate commissions too. When deciding how to sell your property, choosing online auction over traditional real estate can mean saving up to 6% in standard commissions. When it comes to maximizing your returns, every percentage point counts.
On the Xome Offer Marketplace, your property benefits from nationwide exposure, increasing your pool of potential buyers and providing you a single platform to track bids and activity on your listing.
With the increased visibility of Xome Offer Marketplace, your property’s exposure to markets across the country allows buyers to compete, encouraging competitive offers at market value. By not listing in a single market, Xome increases your chance of attracting bids at, or ideally above your selling price.
Backup When You Need It
Even with the marketing power of Xome, selling a property yourself can still be a lot of work. One of the bonuses of listing with Xome is that an expert team is ready to help when you need it. Our team is here to answer any questions you have at any point in the process. And they offer additional options—from part-time agent assistance to full-service selling agents—if you decide the self-selling option isn’t for you. Help is always a click or call away.
The Marketplace Works for You
Better with Bids
The benefit of an online auction is having it do the work for you. The auction structure eliminates having to go back-and-forth with a buyer and drawn-out price negotiations. Low offers are easier to outbid—so interested buyers are incentivized to bid competitively.
Uncertainty adds stress to any situation—particularly one involving the largest financial decision most of us will ever make. Set auction lengths aren’t just great for setting a finish line for your time as a seller—they also add a sense of urgency that can motivate interested buyers.
Closing auctions can draw better bids since they potentially mark the date of sale. Buyers hoping to leverage long listing times into low offers are encouraged to make reasonable offers or miss out on the sale. That means sellers save time and net more money.
Putting your property up for auction can offer sellers a low-risk, economical way to maximize value—and the Xome Offer Marketplace was designed to make the experience as low-stress as possible.
If you decide online auction is the right fit for you, then you can get more information here. If you decide you would like more support, Xome offers a wide range of packages to fit your needs and budget. Regardless of how you decide to sell, we want you to have the facts. If you have any questions or want more information on our range of services, contact Xome Concierge®. We’re here to help.