Sale Methods
There are different methods to sell your property.
When it comes to selling your property, there are different methods available for consideration. Many factors come into play when deciding what strategy to use. Examples include how fast you need to sell and how private you want the sale to be. There are four common ways to sell property in Australia; private treaty, auction, expression of interest and off-market. Each has its benefits and disadvantages, so knowing what they are will allow you to make the best decision on what sales method is right for you.
Choosing one comes down to your personal circumstances and an expert advice you receive from the industry professional.
Private Treaty
The most common sales method in Australia is a private treaty, which is where the property goes to market with an asking price, and interested buyers submit their offers to start a negotiation. Ideal for those who want more control and want to avoid the costs associated with auctions. The downside of a sale by private treaty is that it is uncommon for the final sale price to go above the asking price. Having an experienced sales agent who clearly understands the current market supply and demand and is a strong negotiator is key for a successful sale by private treaty.
Auction
Selling via auction is extremely popular for its ability to drive up the final sale price by using the excitement and competitiveness of buyers in a live auction situation, whether it be a public or private auction. For auctions to be successful, you need to have an agent with extensive knowledge and expertise and a comprehensive marketing campaign leading up to auction day.
Expression of Interest (EOI)
Expressions of Interest is when buyers submit their best offer and any conditions by a set deadline pre-set by the sales agent. The vendor then chooses the most suitable offer. This type of selling method is typically used for expensive homes, development sites and unique properties. EOI also allows the vendor to see what level of interest there is in their property before committing to the costs of a full marketing campaign or auction.
Off-Market
Selling your property off-market means that you are willing to sell if you are presented with an acceptable offer, but you don’t want to promote that you are selling. Realestate.com.au explains there is a level of anonymity that comes with off-market sales that appeal to high profile people, people having financial difficulties, relationship breakdowns, or dealing with a deceased estate. Off-market usually means the vendor wants a quick sale, which can come with more conditions, shorter settlement periods, and larger deposits.
At Kats Real Estate we offer free property selling consultations to help you understand how you can get the best result out of your sale. We would be happy to answer any of your questions.
Phone: 0405 369 568
Sale Methods
There are different methods to sell your property.
When it comes to selling your property, there are different methods available for consideration. Many factors come into play when deciding what strategy to use. Examples include how fast you need to sell and how private you want the sale to be. There are four common ways to sell property in Australia; private treaty, auction, expression of interest and off-market. Each has its benefits and disadvantages, so knowing what they are will allow you to make the best decision on what sales method is right for you.
Choosing one comes down to your personal circumstances and an expert advice you receive from the industry professional.
Private Treaty
The most common sales method in Australia is a private treaty, which is where the property goes to market with an asking price, and interested buyers submit their offers to start a negotiation. Ideal for those who want more control and want to avoid the costs associated with auctions. The downside of a sale by private treaty is that it is uncommon for the final sale price to go above the asking price. Having an experienced sales agent who clearly understands the current market supply and demand and is a strong negotiator is key for a successful sale by private treaty.
Auction
Selling via auction is extremely popular for its ability to drive up the final sale price by using the excitement and competitiveness of buyers in a live auction situation, whether it be a public or private auction. For auctions to be successful, you need to have an agent with extensive knowledge and expertise and a comprehensive marketing campaign leading up to auction day.
Expression of Interest (EOI)
Expressions of Interest is when buyers submit their best offer and any conditions by a set deadline pre-set by the sales agent. The vendor then chooses the most suitable offer. This type of selling method is typically used for expensive homes, development sites and unique properties. EOI also allows the vendor to see what level of interest there is in their property before committing to the costs of a full marketing campaign or auction.
Off-Market
Selling your property off-market means that you are willing to sell if you are presented with an acceptable offer, but you don’t want to promote that you are selling. Realestate.com.au explains there is a level of anonymity that comes with off-market sales that appeal to high profile people, people having financial difficulties, relationship breakdowns, or dealing with a deceased estate. Off-market usually means the vendor wants a quick sale, which can come with more conditions, shorter settlement periods, and larger deposits.
At Kats Real Estate we offer free property selling consultations to help you understand how you can get the best result out of your sale. We would be happy to answer any of your questions.
Phone: 0405 369 568
