Luxury Real Estate Team Successfully "Reverse Auctions" One-of-a-Kind Mountain Retreat

Centennial, CO, January 20, 2016 (Newswire.com) - Keller Williams DTC’s luxury real estate group Colorado Dream House Team, successfully ran a compelling campaign to sell a home in the Genessee community by giving people the chance to bid on the home as the price dropped in $150,000 increments every three days. 

The home was listed on September 14, 2015 at an asking price of $3,950,000. A buyer put in a winning bid of $2,450,000 and closed on December 15, 2015. 

"Instead of trying to sell a luxury home for two, three or more years to find out the true sale price, we found out in 45 days. The seller was happy for a quick, cash sale and the buyer got $1.5 million off the listing price of the home."

Dan Polimino, Broker/Owner

“The reverse auction accomplished exactly what we had hoped for,” said Colorado Dream House Team owner Dan Polimino. “Instead of trying to sell a luxury home for two, three or more years to find out the true sale price, we found out in 45 days. The seller was happy for a quick, cash sale and the buyer got $1.5 million off the listing price of the home.” 

Contrary to a regular auction where buyers bid up the price, a reverse auction allows buyers to watch and wait for the price to decrease to the number they like, while trying to avoid a lost opportunity in failing to act soon enough. 

“It’s a bit like watching the stock market fall and deciding when to buy shares of a blue-chip stock before the price goes back up, or in this case another buyer jumping in with an offer that is accepted,” Keller Williams DTC CEO Tony Carnesi said of the unusual strategy. 

The contemporary home was completed in 2001 by renown NYC architect Alexander Gorlin and was included in a book titled, “100 of the World’s Best Houses.”

About The Colorado Dream House Team
The Colorado Dream House Team is part of the Keller Williams Realty DTC, LLC Market Center, located at 6300 S. Syracuse Way in Greenwood Village. CDHT is a group of ten professionals who sell more than 100 homes per year using creativity and ingenuity in their marketing techniques. Visit www.coloradodreamhouse.com.