From the blog...

AUCTION PLATFORM MISGUIDED IN APPROACH

Posted on: May 10th, 2022 by Chris Scott

Firstly, I am someone who is totally behind choices for consumers. I just want the public to understand some of the choices they have. We are hearing lots of ads on the radio about the company Unreserved. They want to disrupt the real estate industry. They have been in our market center for a little over a year.

This is the slogan from a recent ad from the company Unreserved “Here to empower buyers”

It is a good slogan but what about sellers? Unreserved clients are in fact the sellers of the transactions, not the buyers. How are they empowering their seller clients who are paying them by making the process less expensive for the empowered buyer? The transparent auction is much more advantageous for buyers. So much so that the government wants to ban blind bidding because they fear prices are getting too high as a result. They want to empower buyers by getting sellers less money? When you are selling your largest financial asset and have a lot of money at stake would you want to sell using a platform that is designed for buyers? Essentially to make sure buyers don’t overpay. I know I would not.

Don’t get me wrong. If I am a buyer I would much rather be in an auction and see the prices as they go. It is a more transparent process, no question. However, if I am a seller I am trying to maximize through the current blind bidding process. It is the best way to sell a house in a sellers market like the one we are currently experiencing. I am still having trouble seeing the value proposition this company is offering sellers. Just my opinion. I was just looking through one of their listings and they had a picture of the house with massive snowbanks in front of it. It is MAY! They are a very well-funded company so they are in no rush to be profitable but it will be interesting to see if they are able to take the market share they need to survive.

If I was a consumer looking to save money I would use a limited-service brokerage. At least it is regulated in the business. Auction companies are not.

Here are a few other things to consider with this process:

• If an auction goes badly, consumers have no one to complain to. There is no independent body to complain to and no penalties in the event a consumer feels they were treated unethically by an auction company. In my industry, we have a strict code of ethics with massive fines if they are not followed.

• There is also really no deal until an agreement is formalized after the auction. Not like a traditional bidding process with Realtors® where agreements are signed and submitted to the seller for them to select the best option. So when they sign it is a legal document.

• Owners of real estate auction companies are not vetted for past criminal or fraudulent activity, which matters if they are helping to manage someone’s life savings. In fact, this particular owner has had a conviction for fraud in past business dealings. As I mentioned choice is good. However, they should be playing by the same rules with the protection of the consumer at the forefront of the transaction.

    
 
 
        
   Anny Metivier 
 2024-08-13
 
 
  Over the years, with multiple military moves, we’ve had the opportunity to work with many real estate agents, and we can confidently say that not all are created equal. Chris, by far, has been the most trustworthy and easiest real estate agent we’ve had the pleasure to work with.
  
 
       
   Jake Moffat 
 2024-06-07
 
 
  Colin has been the best realtor to work with and helped us buy a great house in the perfect neighborhood. Colin and the rest of the team at Chris Scott were incredibly helpful the whole way and always available to answer questions, show us houses at a time that was convenient for us and were just generally professional and friendly during the whole process. We will recommend Colin and the team to our friends and family.
  
 
       
   Faith Woodley 
 2024-03-13
 
 
  I was a co-Executrix of an estate, and we had a condo that we had to sell for the estate.  In order to get the property ready for sale, we had to have the over 5,000 square foot condo painted and the carpets replaced.  Since the property was empty, Chris recommended a home stager that he uses on properties that require these services, and she did a fantastic job of staging the condo. It took the condo to the next level. The condo sold for a phenomenal price, and we were very happy with Chris Scott and his abilities.  He always gives over 100 percent to get the job done!  I recommend him to anyone that requires the services of a great real estate agent.
  
 
       
   Emily Bozanich 
 2023-10-07
 
 
  We worked with Rachel and she was beyond diligent. She is so organised and meticulous with details, it really helps when buying a home. She even agreed to do a virtual walk through for the home we ended up buying because we weren’t going to get there ourselves prior to offers being reviewed. She was also great with recommending areas to consider and avoid. Highly recommend.
  
 
       
   Cy Dixon 
 2023-10-06
 
 
  Rachel was amazing. She helped me find the perfect home for me and my son during a challenging time in my life. She was extremely patient and empathetic, professional and knowledgeable. I highly recommend her. No one will work harder for you than Rachel.
  
 
       
   Jeff C 
 2023-10-06
 
 
  Awesome realtor team very helpful and knowledgeable
  
 
       
   Nathalie Groupe Godin 
 2023-10-06
 
 
  Great service. Very knowledgeable. Super helpful. I’d use this team again.
  
 
       
   D Hynders 
 2023-10-05
 
 
  I recently used Chris' team to purchase a new house and I have to say that it was a pleasure to work with them.
  
 
       
   Megan Bixby 
 2023-10-05
 
 
  My husband and I purchased a house in the surrounding Ottawa area with the assistance of Colin from this group of individuals. We unfortunately were left with no choice but to purchase a home sight unseen due to our work circumstances. We originally considered not purchasing because of this.
We deliberated and chose to purchase a home after participating in FaceTime showings and we could not have been more satisfied. Colin was objective, professional, calm, informative, and realistic. He listened to our needs and helped us choose our home. The fact that we were pleasantly surprised, and a year later remain pleased as punch, says everything about how talented this company is. Will, without a doubt, use this company when we leave Ottawa.
  
 
       
   André Desjardins 
 2023-10-04
 
 
  We worked with Chris to find a home back in 2011 that would suit our desire to be close to work. He was nothing but professional and courteous! Listening to our needs and showing us what we were looking for. Years later, when we thought about down sizing and finding a renovated home, he took us around to see some in the neighborhood. He always open to helping us out in our searches

From the blog...

AUCTION PLATFORM MISGUIDED IN APPROACH

This is the slogan from a recent ad from the company Unreserved “Here to empower buyers”

Here are a few other things to consider with this process:

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