- Traditional listings have a ‘for sale’ price.
- The list price immediately tells a buyer what the seller will accept and what the buyer does not need to pay.
- Buyers will always try and negotiate and offer below the list price.
- Buyers are focused on how much less they can buy the property for and how much they can negotiate the list price.
- If the property is not selling the only option is to reduce price.
- In a traditional sale the buyer knows the sellers reserve price –because it’s the list price.
- In a traditional listing the buyer offers a purchase agreement, lists their terms and inspection periods.
- Buyer completes due diligence after making the seller agree to the purchase agreement.
- During contingency periods buyer has the ability to ask for repairs, price reductions and extended time to close.
- During the traditional process the buyer is in control.
- Traditional listings are marketed without timeline and with no set date for sale.
- Traditional marketing can be described as a passive approach with no set strategy.
- Can take up to months to obtain valuable feedback and discover market value.
- No set date means buyers are not forced to make a decision.
- Buyers keep looking at other property whilst watching the sellers property continuously sit on the market.
- Buyers will wait for a price reduction because they have no call to action.
We are not getting rid of traditional real estate, but rather providing an innovative, personalized solution. With luxury and collectible goods, cars, boats and homes sold around the world at auction every day, why not rethink real estate and take part in the future of property sales in Vancouver?