Every house is different and as such there is no “one size fits all” when selling a home. Choosing the correct method of sale can result in a better and more efficient sale of your home. The right method of sale will result in the best sale price and as such all avenues must be explored to ensure the correct one is chosen.
Sales by private treaty generally allow for greater flexibility in negotiations with potential purchasers. You have the ability to entertain offers from purchasers with special conditions such as a building inspection or finance approval. This method allows you to deal with each offer on each of their individual merits.
Closing Date Sale
This method of sale is growing in popularity. This campaign style is similar to an auction campaign where the property is intensively marketed with a strict deadline for offers to be submitted. Essentially, by nominating a closing date and time, we create a sense of urgency amongst the purchasers to submit their best offer first for fear of not securing the property for themselves. A closing date sale, purchasers are also able to offer with special conditions as with a private treaty campaign.
We recommend selling by auction if the market is strong or your property has a unique quality which is difficult to put a precise value on. Such qualities include; ocean views, style of the property, rareness, etc. A typical auction campaign consists of a five week intensive marketing campaigns with home opens twice a week. During this phase, we gather feedback from potential purchasers to assist in establishing a reserve price. If the bidding does not reach the reserve price, the next phase is to market the property at a price often resulting in a prompt sale.
The auction method of sale has the potential to exclude some purchasers as they may not have the capacity to purchase under auction conditions.