Auction Priced Home Sales Event??? (incentive, auctions, 5%, agent)

[1970pelle]

Do these type sales work.We recived a letter from the broker about the up coming sale on Oct.2.They are asking for a 5% price reduction or incentive.Our agent finally got back with us today with a figure and we need let her know today if we want in on the sale.Not much time to think about it.Any input. My deal is we have lived in the home 9 years.I have had to retire early and we would like to down size to fit our new budget.I know what the housing deal is at the time.I have lots of time to study it.Its just a very frustrating time.I do think I made a mistake with the agent we choose.I know for sure we will not use her for buying our next home.We had her show us one house.And she didn't feel it was the house for us.And was very negative about it.I mean way overboard negative. Thanks

[GregTraub]

If it's free for you to participate, and you would be willing to sell for the discount, go for it. It can't hurt.

As far as it working....The way you describe it doesn't seem like it's a real auction, just a glorified open house. Real Auctions usually take at least 30 days for the advertising blitz, you the owner pays for all marketing costs up front, you the owner doesn't pay any real estate commission, and unless your in the million+ price range you should be a part of a larger auction, held off site, hopefully with at least some properties being sold absolute (to the highest bidder regardless of price) as the absolute properties are what really brings in the buyers.

[1970pelle]

I know its not a real auction.Its just a play on words.And nothing is for free.