Methods of sale
Private Treaty (Price)
When considering marketing your property with a set price it is extremely important to determine the right figure from the start. Market facts are used to properly gauge this figure.
Over-priced properties take longer to sell and do not attract the optimum number of potential buyers, particularly during the prime selling period. The price will often drop considerably without the competition between these buyers.
You will have a far greater chance of achieving a favourable price for your home if your initial asking price is aligned with the market value.
Sale By Negotiation
By using sale by negotiation you can both maximize buyer interest and also ensure a high sale price for your home. The buyer is also focused more on the property and less on the price. This is a great way to gain feedback from the market before settling on a price you’re happy with.
Sale By Tender
This method of marketing creates a high profile for your property and establishes a competitive environment without having to list a price. You also set the terms, conditions and deadline. Prospective buyers become emotionally involved before they consider price and have only one opportunity to put forward their most competitive bid.
You have the opportunity to accept, decline or continue negotiations with any interested party. Increased enquiries and inspections are often generated by this sales strategy. Tender details remain undisclosed and absolutely confidential.
The auction process has fast become one of the most preferred marketing strategies for Harcourts clients – with good reason. It has proven to be the most successful – with property on the market for a short time with the highest sale rate.
The auction process is designed to attract genuinely interested, cash-in-hand buyers. These buyers are focused only on establishing the maximum price they are prepared to pay – not how low their offer should be. As motivation at auction time is often bolstered by emotional commitments towards purchasing. This also strengthens the natural form of competition between buyers. The aforementioned ‘maximum price’ is also often open to interpretation in the mind of the buyer. The buyer’s fear that they have undervalued the property, and may lose out, often means that they will stray past their limit. Bidding for a house is action-packed – and that’s all in your favour.