Found 2 blog entries tagged as real estate auction.

THE PRICE IS RIGHT

The Cloud of Ownership Bias

 

 

BREAKING NEWS!!!! Sellers think their property is worth more than it really is. Call it false hope, money already spent, or just plain gorilla math but make no mistake, it lives and breathes. Not exactly a revelation in Real Estate but it does present obvious challenges. What’s more, for every owner out there asking too much, there is a line of agents looking to spin the wheel and gamble on their behalf. In real estate brokerage, this is typically the upheld norm that is needed to make a living. Can’t win if you don’t play. Especially if you’re playing with someone else’s money. For agents, this is normally a fool’s errand and a fast track to making eight dollars an hour, once the…

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New to Market – Formerly known as the McCulloch Horse Farm, 100 Whippoorwill Rd in Old Lyme has been offered up for sale by Seaport Real Estate Services in an Auction proceeding. This method will be administered through an online bidding process that takes place over the course of 30 days. Contrary to a traditional brokerage sale, an Auction approach positions the initial offering price significantly lower than the current fair market value. This incites a heightened level of demand, creates a competitive environment, attracts multiple buyers, and drives the price of the property up rapidly over a pre-determined period of time. All necessary due diligence on behalf of interested buyers is performed prior to the close of Auction. Once the winning bid…

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