Methods of Sale
Auction
- A clearly defined time frame of sale involving a carefully developed result driven marketing campaign
- An owner always has the opportunity of selling their home before, at, or after the auction event
- Usually ensures that "no stone has been left unturned" in the search for the best price and best outcome for an owner
- The auction method is on record as having produced most of the highest priced sales results in most of our capital cities
Private Treaty (For Sale)
- Where traditionally, the owner sets an asking price and waits for offers to be presented to them by their agent
- Is normally considered a "slower" paced process and is very often used by owners who have a specific price/value in mind
- Can appeal to many people because they can see a price and make an immediate offer if the home is suitable
Expressions of Interest
- Also known as Sale By Tender, whereby potential buyers are invited to submit their best price & conditions in writing prior to a set closing date
- All submissions are then presented to the vendor for consideration and the "best" overall offer may be formally accepted
- The method is normally reserved for those properties that are very difficult to estimate value for (eg grand historic land mark properties) or the totally unconventional, where again, comparable sale results are virtually non existent