How often are auction environments created in the MLS by calling for offers to be presented on a specific date?
- Often. (49%, 26 Votes)
- Rarely. (26%, 14 Votes)
- Sometimes. (25%, 13 Votes)
Total Voters: 53
POLL: How often are auction environments created by offers presented on a specific date?
BTW: What most sellers do NOT understand, and what most real estate agents and brokers DO NOT understand is that ALL SALES OF ALL REAL ESTATE in America are by auction.
Agents and sellers are aghast to think they’d “stoop” to an auction, as they associate the term with foreclosure and other embarrassing words. Local boards, pushed by their own agents who “know” the price of everything and the value of nothing, shirk their responsibility to the seller in mass and thus most local boards shun the term auction.
The problem’s roots are in the confusion agents create for themselves between believing they know what a property is “worth” and therefore they attempt to set their list price in anticipation of that. Seduced by the dopamine surge of guessing correctly, agents and sellers find it almost irresistible. Sometimes, of course, they are correct, and thus they get extra dopamine. Sometimes they are wrong. Way wrong.
In the end sellers sell their property to the buyer willing to pay the highest price/best terms. In other words, an auction.