Potential buyers visit the property and examine the estate, buyers will make an offer if they like it, both parties must agree upon contingencies, accepting the offer, inspections take place within the establishment, and finally, escrow closes. This method has worked perfectly for decades. But sometimes, change can be good and can provide tremendous new opportunities.

In a world of business competition and alternatives, it’s unreasonable to think sellers are not given an option when it comes to selling their biggest asset. So, Harcourts Auctions decided to be that champion for change. Harcourts Auctions understands that not all properties are the same. They knew that some non-distressed homes would benefit from being bought and sold in a live auction setting, something no other real estate company in the United States does at this time.

What is a Live Auction for Real Estate? If you have never participated in a live auction, your only exposure to what it entails might be from something you’ve seen on television. There is a room full of people sitting before an auctioneer who rambles on so quickly and unintelligibly that you can only guess what they are saying as his audience frantically raises their hand, a paddle, or nods to make their bids known. The noise and commotion culminate in the auctioneer shouting the first understandable word of the process, “SOLD!” as they slam their gavel onto the podium. Essentially, that is what a live auction is, but when performed through Harcourts Auctions, you cannot only understand everything that is going on, but the environment is entirely stress-free and can take place in your living room or the local coffee shop…

That’s right, your living room! Harcourts Auctions are so committed to innovation they have developed their very own virtual Live Auction Room available 24/7 at www.liveauctions.harcourtsauctions.com. Twice a month auction events will take place on this platform, where viewers will be able to see and hear the auctioneer in real time and see all bids submitted on each property. In fact, the advanced technology employed means viewers will experience less than micro-milliseconds delay (that’s the technical term..).

Every aspect of a Harcourts Auctions has been tried and tested to assure a transparent, easy process for all parties involved. Before the auction date, all properties will hold open houses to provide potential bidders with opportunities to view the property and ask questions of the listing agent. Bidders will also have access to an informative package of comprehensive information and disclosures about the property through the auction website, thus eliminating all possible surprises. Finally, the live auction takes place on the big day with a tinge of excitement in the air. Once viewers are logged into the Live Auction platform and the clock ticks over, the bidding begins. From there, the auctioneer guides the buyers through the bidding process and buyers have the opportunity to place bids by pressing the bid button, the auctioneer will call out the numbers, accepting one offer after the next until a winning purchaser is determined. Then, upon the conclusion of the auction, the sale of the property is officially complete, and the change of ownership can commence. Nice and easy, right?

In the United States, home auctions have primarily taken place for distressed properties. But Harcourts Auctions has taken on selling non-distressed homes, having tremendous success while selling thousands of properties across the globe. Despite this style of a sale being relatively new to the United States, its popularity is snowballing. With all of the bidding taking place in real-time for everyone to witness simultaneously, a buyer can purchase a home at a fair market value, which isn’t always possible through the traditional method of sale. This transparency allows everyone to know how much they need to put up to secure the property. This opportunity, coupled with knowing the specific closing date of a sale, has made participating in a live auction even more attractive. As a result, Harcourts Auction has had the pleasure of selling homes of all styles, sizes, and values, meeting the needs of each particular client on their terms.

There is no denying the success rate of live auctions versus traditional sales. While the classic sales technique in an area shows an average list to sell ratio between 30%-50%, Harcourts Auctions process has over a 90% list to sell percentage. There is no ceiling to the value, and the market decides the financial worth resulting in both the buyer and seller receiving the best outcome in this fantastic scenario.

Harcourts Auctions has no intention of trying to put an end to the way traditional real estate transactions take place. They are simply innovating the whole ordeal and can now offer their clients options for buying and selling their homes that no other real estate company can do on the market. Partaking in a live auction gives both the buyers and sellers the comfort of transparency, eliminates surprises, and makes a property transaction easy as it can be and stress-free. Not to say the traditional manner in which real estate transactions don’t work, it does. Still, the Harcourts Auctions is a perfect platform and solution for those who appreciate knowing what and who they are up against while jockeying for their dream home.