Professional photography, online listings, for sale signs and open houses are all pieces of the traditional real estate sales process. In addition to this traditional approach, Kara and Ron of Harcourts Milestone Advisors offer the option to buy or sell through a Harcourts Auction as a way of showing clients that when it comes to real estate, “It’s all about you.” Selling through a Harcourts Auction gives clients the opportunity to experience more traction and, oftentimes, better offers on their listing. Research finds that Harcourts Auction listings experience at least 50% more inquiries than a traditional listing with every property receiving at least one offer before auction day. This is exactly what happened with recent clients, Erin and John, who were looking for the most efficient way to sell their home, located in the Quail Hill neighborhood in Irvine, California. Here is Erin’s perspective on why the Harcourts Auction was the perfect choice in her real estate journey.

The Challenge: Selling a Home Efficiently with a New Baby

As two parents working full time and caring for an infant, Erin and John were looking to sell their Orange County home in a way that best worked with their schedule and situation. “I had a six-month old baby at the time and the concept of getting the house ready for multiple open houses and viewings didn’t sound attractive,” Erin shared. Kara and Ron uncovered the concerns that Erin had and presented the opportunity to sell their home through auction. This concept caught Erin’s attention. “The auction was an intriguing concept. When we first heard about it from Harcourts, we definitely wanted to learn more,” she recalled.  “As I thought about my past experiences with selling a home, it tended to be tedious with interested buyers looking to drop by in a half hour’s notice. Having Harcourts Auction as an option definitely reduced my anxiety of selling the house with a small child and working full time.”

The Solution: Taking Control of the Sales Process Through Harcourts Auction

After learning about the Harcourts Auction platform, two aspects immediately caught Erin and John’s attention. “We liked the concept of minimizing the amount of traffic in the house,” Erin said. “Auction also sounded like a great opportunity given the economic environment to get the best offer, done as effectively and efficiently as possible.”

In addition to having Kara and Ron as trusted resources throughout the real estate journey, selling through a Harcourts Auction connected Erin to a specific, dedicated auction team that shared more about the auction platform and guided the process. Here is a brief overview of how a Harcourts Auction works:

• Homes are either listed with a bidding to start from price or without a list price, focusing buyers on the property’s appeal and allowing negotiations to go in an upward trajectory. This approach drives more traffic and volume of activity within the market than starting at the final desired price.
• The sellers set a confidential price expectation or reserve price for the property and there is no obligation to sell if bidding falls short.
• With the help of the Harcourts Milestone Advisors and the auction team, the seller completes all inspections, reports and disclosures upfront.
• Interested buyers are required to complete all due diligence before signing the non-contingent purchase agreement. If they successfully complete this process and meet the requirements, they’re approved as potential buyers.
• Sellers select a set sale date, showing that they’re motivated to sell and creating a sense of urgency that encourages buyers to make an offer.
• Agents and sellers agree on specific Open House times based on what is convenient for them. Interested buyers must give their information to qualify them for the sale before touring the property on an open house, leveling the playing field to only serious buyers.
• Sellers are able to accept any offer prior to auction day.

The only “challenge” that arose for Erin during the auction process was the modest upfront work it entailed, which in Erin’s words, “ultimately turned out to be a good thing.” Completing and paying for the upfront work, such as inspections, was well worth Erin’s time and investment to avoid any unwanted surprises later in the closing process. “It’s really a win-win situation because the potential buyer sees everything ahead of time and is able to put together an appropriate offer that they’re happy with. Plus, the auction gave us the opportunity to only get qualified bidders on our house so it minimized traffic in our home,” Erin explained.

Making the process “All about Erin and John,” Harcourts Milestone Advisors worked with them to select and set up specific time periods to host the open house that best fit their schedule. In the end, the family held three essential open houses for potential buyers, who each had to be pre-qualified before viewing. “With those open houses, we actually got a number of offers within two weeks before the auction date,” Erin said.

The Outcome: Reaching a Desired Price and Closing The Sale Early

From the time Erin and John decided to list their house through a Harcourts Auction to their set auction date was a quick span of just eight weeks. In a terrific turn of events, they received and accepted an offer they were thrilled with, closed the sale and moved into their new home closer to the six-week mark! “Ron, Kara and the auction team were there every step of the way to answer questions, assist and make sure that everything was being accomplished, from professional photos to the inspection,” Erin said.

Through their talks, Erin felt that Kara and Ron genuinely understood her and her husband’s situation of having a young child at home and a full schedule, and therefore provided extra assistance to make the real estate journey all about her family. “You want somebody who’s going to partner with you, make it as easy as possible and help you get the most out of the process. Ron and Kara both do that,” Erin said.

Another factor that Erin loved about working with Harcourts Milestone Advisors is their mission to educate and give back to the community by donating a percentage of their commission to charity. Personalizing the community contribution, Kara and Ron donated $1,500 to Erin’s favorite charity, The Shea Center in San Juan Capistrano, which focuses on “improving the lives of people with disabilities through therapeutic horseback riding.” As a volunteer of The Shea Center for six years, Erin was touched by Kara and Ron’s gesture. “It goes back to connecting and finding out what’s most important to people,” Erin said. “Making a donation to an impactful cause and nonprofit, but also recognizing the importance it has to me as a client is truly meaningful.”

While Erin and her husband sold their house before their official auction day, she shared that they enjoyed what they did experience of the Harcourts Auction process and the ability it gave them to sell their house quickly, effectively and at a nice price point. In addition to frequently receiving two bags of Kara’s delicious, home-made cookies (one for Erin and one for John), the team’s continued support made working with Harcourts Milestone Advisors a one-of-a-kind experience. For example, when tax season rolled around, months after Erin and John were enjoying their new home in Orange County, they received an additional copy of the closing documents from their previous home that were needed for their taxes. “It was perfect timing from a tax perspective and so nice to have!” Erin said. The other standout piece for Erin’s family is the unique services that Harcourts Milestone Advisors offer. With the auction’s streamlined and effective process, Erin and her husband are still raving about the experience. “The auction is a differentiator. It’s a different way to do things and we need those innovators and disruptors in the real estate market, especially in California,” Erin said.

To learn more about working with our team of “seasoned professionals” as Erin so kindly called the team at Harcourts Milestone Advisors, please contact Kara or Ron.