Unreserved
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How to Sell

At Unreserved, we believe in lower fees and maximizing the upside for sellers by bringing all offers together in a competitive marketplace. We operate with a 1% auction fee and give sellers a price guarantee for their home before the auction begins.

Unlike the traditional model of selling where you may have heard the words “your first offer is your best offer”, at Unreserved, when the auction ends we say, “your last offer is your best offer”. Our sold properties speak for themselves. Look at the bid history on homes that have transacted on Unreserved to better understand the competitiveness of our transparent bidding process.

Steps to Selling

Step 1

Request a home appraisal

Our team of property experts will come to you, appraise your home and give you a written price guarantee. That guarantee then becomes the minimum sale price you’ll receive before the auction even starts. Whether you’re looking to sell right now or want a price guarantee to give you total peace of mind knowing your current home will transact and align with the timeline of your new home -- either way, we’re here to help.

Book a Free Appraisal

Step 2

Choose your closing date

Once you’re happy with the price guarantee and auction target range, sellers can choose the closing date(s) for the home. All bidders must agree to the Terms and Conditions decided by the seller prior to placing a bid.

Step 3

Staging process

Our team of interior designers will work with you to help position your home for success. We’re a full service property technology company and our success is based on maximizing value for sellers. We also have our own in-house painting crew that will paint and do minor construction if needed.

Step 4

House photos and video walkthroughs

We go all-in on making sure your home looks the best it can and capturing the character of your home and neighbourhood. We specialize in drone operations that allow us to bring high-tech drones inside and outside of your home to give buyers a unique virtual tour experience.

Step 5

Pre-auction marketing

Before the auction begins, we market your home to the masses through PR, Facebook, Google ad campaigns, MLS (optional) and various classified sites. We work with you to facilitate open houses and private showings with qualified buyers to help ramp up interest for the auction.

Step 6

Live auction

Our auctions take place online and in real-time, so sellers can watch the bids live as they come in. We set the auction end time, which means the auction might be live for 24-48 hours, however, most of the action begins when the auction end time is near. Buyers love the transparency of watching the bids come in and tend to save their best bids for last as they compete for your home. All bidders are verified to participate in the auction in advance, and when the auction ends, the sale and purchase documents are immediately sent to both the buyer and seller. You provide the documents to your lawyer, and they’ll take it from there. We will collect a cheque from the buyers for the down payment and hold the funds in trust.

Seller FAQs

How can Unreserved guarantee me over market value?

We look at market comparables for homes that have transacted in the nearby area and what the sellers paid in fees. For example, let’s say a comparable house in size, features and location sold recently for $850,000. The sellers paid 5% in commission fees ($42,500). So, the “true price” they received for their home was $807,500. Unreserved comes in above the “true price” number to guarantee the seller more money for their home before the auction even starts. So, if our guarantee is $820,000 with 0% in seller fees, that’s $12,500 more than the neighbours received for their sale. Keep in mind, the guaranteed amount is only the minimum -- our goal is to attract more buyers who love the buying experience to compete for your home to maximize the value.

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What if the home sells for less than our guarantee?

If your home sells for less than the guaranteed minimum auction price, we will pay the difference to you on closing. For example, if our guaranteed amount was $820,000 and your home sells for $800,000, Unreserved would pay the $20,000 shortfall on closing. We stand by our guarantee to give you a total piece of mind when it comes to selling your home.

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Will you stage my house?

Yes, we’re a one-stop shop for your staging and minor renovation needs.

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Who pays the cost of staging?

We cover all upfront costs for staging and provide you with all the details before getting started. If the property doesn’t exceed our guaranteed minimum auction price, you pay nothing in staging costs. In the event the price exceeds our guaranteed amount, we re-coop our staging costs (between $2000-$4000 on average).

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I need to close immediately, will Unreserved buy my house?

Yes, we will buy your house and close within 14 days. However, when we sell your house, you won’t receive the benefit of any potential upside.

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Still have questions?

We'd love to hear from you.