DownsizingTip#5: Once you decide to sell an item, don’t set a reserve or minimum price
An old saying goes; Your item is worth whatever you say it’s worth as long as it’s not for sale. When you want to sell it, it only matters what someone will pay.
It’s a trap to think that having a reserve ensures that you get your price for an item. In fact, what it often ensures is that you don’t sell the item just when you need the house empty for closing. This is fine for those who truly want to keep the item, but in the context of downsizing this approach can add effort and stress that you don’t need. It also means tougher choices about how to sell or otherwise dispose of valuable goods and potentially years of storage fees.
Solution: Use competitive bidding to get the best price you can, and encourage lots of bidders to start bidding with no reserve prices. Once engaged, let the excitement of the auction process encourage them to bid prices up to what they are willing to pay. Auction leverages the natural competitive forces of the market place to drive prices to their highest level within a given time frame. YouBidLocal makes it easy for lots of people to compete.
*Information shared from ASA-auctions
Contact me for more information and to discuss your real estate needs.
Thanks for reading. As always, if you would like to discuss your current real estate situation, I would love to offer my expert knowledge of the Oakville, Milton and Mississauga markets. I will also show you how my exceptional marketing plan will help you get more money for your home and make it sell faster. You can reach me at 905 845 9180, or by email at firstname.lastname@example.org.
CENTURY 21 Miller Real Estate Ltd.
467 Speers Road,
Oakville, ON L6K 3S4
Mobile: 905.617.3556 Office: 905.845.9180