Selling by auction is the preferred option for many. This is because your property is generally on the market for a shorter time, and has the highest sales rate. Auctions > An intensive, high profile auction marketing programme attracts genuinely interested, cash-in-hand buyers. These buyers are focused on the maximum price they’ll pay, not how low their offer should be. Combined with the excitement of the big day it’s natural level of competition that helps establish the highest possible price on the day. We’ll assist you in setting the terms, conditions and auction day deadline. Also, the property needs to be only opened for buyer viewing at times that best suit you, so the auction process is regarded as the least disruptive method of selling.
Some of the reasons for selling by auction include:
- Builds urgency and a purchase deadline amongst buyers
- Creates a competitive transparent purchasing environment
- Finds a true ‘cash’ buyer with no conditions
- Provides complete control for seller – you set the terms Option of accepting offers prior to auction
- Removes risk of under or over pricing Focus is on the property and not the price
The tender process has a set deadline for prospective purchases to put forward their best offer for your property. After the close off date you have the option to accept, decline or negotiate any offers. Due to this level of flexibility some prospective sellers consider tender as a viable option. Some of the reasons for selling by tender include: Deadline creates competition and urgency Buyers become emotionally engaged in the property before they consider price All tender details remain undisclosed and absolutely confidential By Negotiation Selling by negotiation removes the need for you to set a sale price for your property, instead placing the decision in the hands of buyers. An offer for your property can be received at any time. You can then accept, decline or negotiate with the prospective purchaser. Some of the reasons for selling by negotiation include: All buyers are eligible Focus is on the property and not the price Removes risk of under-pricing
The property is marketed at a price that is acceptable to the seller. If priced at fair market value good interest will be shown in the property and it may make it easier for potential buyers to determine whether the property is within their reach. It is usual for the buyers to begin negotiating below the listed price.
No price is a method of listing exclusively where the number of buyers is increased because your maximum price is not stated. In a changing market this type of marketing maybe employed for 1 – 2 weeks to get buyer feedback so that you do not over price your property and lose valuable time on the market and possibly miss the buyer who is waiting. No price can also be a strategy to test the market before going to auction.