Selling Methods

Your selling method is largely determined by your personal circumstances. Do you need to sell in a short period of time? Do you want a premium price? Do you have funds to invest in marketing your property? Do you have a strong view about property being on the market without a price? Your answers to questions like these help your Wembley Downs Real Estate Agent suggest one or two selling methods that suit your personal circumstances and support your views on selling your home.

shutterstock_1828225

So what are the main selling methods?

Click on a Topic link below to go straight to your topic of interest!

Topics

 

For Sale with price (Private Treaty)

Using this method you set a list price in consultation with your Wembley Downs Real Estate Agent.  Using this method, the property stays on the market until an agreement on price is reached with a buyer.

Positives
  • Most common form of selling method used
    1. Buyers are comfortable with it because they know how it works
Negatives
  • Pressure placed on a buyer to make a good offer is not as strong as with some of the other methods.
  • Buyers make offers at a time of thier choosing and can be lost indecision.
  • Longest days on market statistic

For Sale without price

shutterstock_6974282

Using this method there is no advertised price on your home for the first two weeks of sale. Your Wembley Downs Real Estate Agent holds Home Opens which provides feedback from potential buyers, thereby providing you with information on where buyers see value in your property. In most cases after the second week a price is placed on the property using the feedback given by buyers as a guide.

 Positives
  • Avoids underselling the property
  • A safeguard against over-pricing the property.
  • Allows you to set a price after market feedback has been given.
  • Encourages interested buyers to call the agent and ask about the sellers expectations and provides the agent the ability to qualify the buyers and if qualified recommend that they attend the next home open.
 Negatives
  • Harder to get buyers to compete with each other to achieve a premium price.
  • Some buyers will not look at a property without price (Small number only). Most will call the agent asking for a price or a range.
  • To work best it requires a moderate level of investment in marketing the property so buyers outside of those looking just at Wembley Downs properties see the home.

SDS: Set Date Sale.

settlement date

Using this method your home is placed on the market for three weeks without a price. Buyers are informed that on day 21, all offers are presented to you, the seller. This method puts the buyers in competition and normally secures multiple written offers which are all presented at the same time.

 Positives
  • Buyers are placed in competition through setting a deadline for offers being written and the fact that all offers are presented at the same time. This structured process often results in a premium price being achieved.
  • Avoids underselling the property
  • A safeguard against over-pricing the property.
  • Should the home not sell on the set date for presenting all offers then it allows you to set a price after market feedback has been given through written offers and home open feedback.
  • Shortest average days on market.
Negatives
  • Some buyers will not look at a property without price (Small number only). Most will call the agent asking for a price or a range.
  • It requires a reasonable level of investment in marketing the property so buyers outside of those looking just at Wembley Downs properties see the home.

Auction

Gavel

This is a four week public campaign in which the home is sold to the highest bidder under Auction conditions. The home is sold in its “as is” condition with the contract of sale being cash unconditional. If not sold within the four weeks, the home usually sells in one or two weeks following the auction.

 

Positives
  • Buyers are placed in competition through setting a deadline (Auction day) and that all potential purchasers bid against each other publically. This structured process can result in a premium price being achieved if multiple buyers compete for the property.
  • The home is sold “as is” and the contract is cash unconditional. No termite or building inspections can crash the contract.
  • Avoids underselling the property
  • A safeguard against over-pricing the property.
  • Should the home not sell at the Auction then it allows you to set a price after market feedback (Auction result) has been given.
  • Days on market average is second shortest
 Negatives
  • Some buyers will not look at a property without price (Small number only) and some will not bid at Auction. Most will call the agent asking for a price or a range and can be encouraged to bid.
  • It requires a high level of investment in marketing the property so buyers outside of those looking just at Wembley Downs properties see the home.
  • An Auction is a very public event that in more cases than not sees the property passed in. This lack of success on the day can be uncomfortable even though the property usually sells within a few weeks after the Auction and much quicker than a typical “For Sale with price” method.

This is just a brief overview of the most popular selling methods available. If you need more information or you have questions about what was reviewed here. Contact us TODAY to arrange an Appiontment. No obligation!

Click Here to Arrange an Appiontment with one of our Wembley Downs Experts