Selling your home and wondering which selling method will suit you best?
The options available to you as a seller are; Fixed Price, Price by Negotiation, Deadline Sale, Tender and Auction. Each of these selling methods has its pros and cons, so it’s just a case of having a conversation to decide which suits you and your situation best.
FIXED PRICE - your property is offered at a price determined by you, the seller. When a buyer expresses interest in the property, we negotiate on your behalf with the buyer in order to maximize the best price and outcome for you.
Many purchasers appreciate the fact that the property is advertised with a price, and would therefore prefer to buy through this method. The seller of the property must commit to a price when the property goes onto the market; therefore it is critical that you set the price correctly.
PRICE BY NEGOTIATION - this method of sale offers your property to the market with no price. The buyers with an interest in your property are encouraged to make an offer and negotiate. When a buyer expresses interest in your property, I negotiate with the buyer to achieve the best possible price.
DEADLINE SALE - the deadline sale process is again another method of marketing your home without a listed price. Similar to a Tender, the Deadline Sale has written offers to be submitted by a certain date and time set by you.
These offers are made on a standard Sale and Purchase Agreement. You also have the option to negotiate with any offer and you can sell your property prior to the nominated date if you wish. The best way to view a deadline sale is really "price by negotiation with a timeline".
TENDER - selling by tender is a method of exclusively marketing your home without a listed price. Written offers, called tenders, are accepted up to a certain time and date set by you. Once the tenders are opened and examined, the highest or any tender is not necessarily accepted. You can negotiate with any tenderer. The purchase price and conditions of any tenders are not disclosed publicly or to any other tenderer. Once the tender process has begun no offers may be accepted prior to the date set for the tender.
AUCTION - this method creates a situation where buyers have to compete with other buyers, in public, in an auction room or on site at your property. When auctioning your property it cannot be sold unless it reaches your ‘reserve price’. However, if there is competitive bidding it can be sold for well above the reserve price. As there is no asking price, buyers fall in love with the property first and don’t have the issue of price as a potential objection. We can provide buyers with a "bidding to start at" price guide.
Auction means that prospective buyers will bid against one another at a date and time set by you. Both the seller and buyers can see how much interest there is in the particular property and, importantly, each buyer can see who they are bidding against.