The secret behind method of sales

Which Method Best Suits the Sale of my Property?

Auction 

Timeframe introduces urgency and focuses purchaser attention
Allows open competition to maximise the selling price
Vendor controls the terms and conditions of sale including the settlement date
Sale is cash unconditional and buyers trust the process

Competition is open and transparent
A second phase can commence after Auction with a price and will attract conditional buyers
Three chances to sell, before, at or after

Price by Negotiation 

Removes the risk of under or over pricing
Purchasers’ can submit an offer at any time
Allows maximization of purchaser interest and sale price
Overcomes purchasers’ reluctance to respond to an auction/tender deadline
There is no set sale date or timeframe around this
Tends to drag on with no deadline

Set Price 

Can focus all initial attention on price and can bring a lot of buyers
Negotiations tend to be in a downward direction
If the property is underpriced it will sell quickly
May prevent a premium price being realised
There is no set sale date or timeframe around this

Set Date of Sale 

Requires the parties to register their interest within a specified period of time (same process as an Auction)
The purchaser can make an offer conditional or otherwise
Creates competition similar to a multi-offer where more than one offer is received
Can be sold prior to the Set Sale Date (unlike a tender)

Tender 

The Tender details are undisclosed and absolutely confidential
Close off deadline creates urgency and competitiveness
Allows the Vendor to deal with the preferred party, should they wish to do so
Offers may include conditions or trades as part of the purchase price
Purchasers may dislike this method of sale as it lacks transparency
Suits properties that require ‘in-depth’ investigation and due diligence or where a third party representative is acting on behalf of the client

Why do we like Auctions?

Our marketing team has been analysing sales statistics from our office for the past years.

By comparing campaign length, percentage increased from appraisal and from CV price, we found that auction is and continues to be the most advantageous method of sale to obtain the best results in the shortest time frame.

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