Methods of Sale

Results & Peace of Mind

Choosing to sell your property for whatever reason is an important decision and using an agent accounts for over 90% of property sales.  A real estate agent is an industry professional with local market expertise and experience. They can give you current information about recent sales, marketing and general information about the housing market in your local area. An agent will act on your behalf during the sale of your property, providing you with advice and guidance to help you objectively evaluate buyer offers.

Auction or Private Treaty?

There are several ways to sell your property.  Auction or Private Treaty is the most common. Both have advantages and disadvantages.

Your agent will advise on the best method based on the type and location of your property, the nature of the market and your preferred time frame. Below is a summary of both methods.

When a buyer purchases a property at an auction, the contract is signed immediately, and the buyer must pay a deposit. The contract cannot be rescinded by the purchaser, which safeguards against loss of contract and sale.

Advantages of auction

Auction is recognised as the most effective way of creating a wide public interest in the property, achieving maximum publicity and reaching a large number of prospective purchasers.

Best price

Properties marketed through the auction process often achieve prices much higher than the seller’s expectations. There is no upper limit for bids.

You control the process

Vendors choose where and when they want to sell the property, the terms and conditions of sale and the price they are willing to accept.

Convenience

A short but comprehensive marketing campaign means less disruption to family life. Set inspection times for potential buyers are arranged at the outset, with ‘open for inspections’ limited due to the short nature of the campaign.

Maximum exposure

Auction campaigns are tailored to enable maximum marketplace exposure. Concentrated marketing over a short period attracts a higher level of interest and genuine buyers.

The market determines the price

Auction is a great way to determine the real value of a property. Eliminating price lets the market determine what it is really worth.

Auction works to a plan

The marketing strategy is carefully planned, documented and specially tailored. A firm date is set for the potential sale.

Reserve price

A reserve price is set, and the property cannot be sold below this price without owner approval. The reserve need not be set until just prior to auction. The owner’s reserve is not disclosed during the auction.

Auction is conclusive, and contracts are signed immediately

Private Treaty

Selling by private treaty also offers several benefits.

• You set the price.
• Offers can be considered at leisure.
• You can determine the pace of the sale process.
• The pace of negotiations can be controlled.
• Buyers might be more comfortable with a cooling-off period.
• Private treaty can sometimes be less stressful.
• Marketing costs might be lower.
• Prospective purchasers not prepared to bid at auction prefer private treaty.