In choosing the right sales method for your property, a sales agent will take into considerations the current market conditions, the property itself and the market demand for properties like it, as well as your own individual circumstances as the vendor.
A private treaty sale is the most dominant way to sell property in Australia, though it’s less common in areas where there is a high market demand for property, such as in the Lower North Shore in Sydney and Melbourne. Selling your home by private treaty involves publicly listing and advertising your property at a set price, reflective of the current market value. Buyers then make offers to your agent that you either accept, negotiate on or decline.
The pros of private treaty sales include:
The cons of private treaty sales include:
Selling property by auction has become the dominant sales method in areas of Sydney, where there’s a high demand for property and a lot of buyer interest. Most auction campaigns run for between 4 and 6 weeks, culminating on auction day.
The pros of auctions include:
The cons of auctions include:
Selling property by tender is becoming more popular among vendors wishing to sell their property discreetly. Selling by tender is basically like a silent auction, where the vendor receives confidential bids from buyers who don’t know if other buyers are bidding. This type of sale works best for properties that are unique and are in high demand; it’s a particularly common sales method for prestige properties.
The pros of selling by tender include:
The cons of selling by tender include:
Deciding which sales method is best for your property is something you should do in consultation with your real estate sales agent. Always make sure that, when you’re appointing a real estate sales agent to sell your property, you feel comfortable with the sales method they suggest.
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