Belle Property

Need to know. Before you get started, it’s essential to understand a few basics, such as sale types and whether you should buy or sell first. Sales methods There are four main methods of sale in Australia: auction, private treaty, off-market, and expressions of interest. How you sell a property can affect a number of aspects ranging from the price tag to settlement period. Auction Auctions create a competitive environment for qualified buyers. Sellers have three opportunities to capitalise on the strength of the market in this scenario: sell before the auction, sell at auction or sell after the auction. An auction is advantageous for sellers because there is no ceiling price on the property; therefore, it encourages competition, often increasing the price outcome. Private treaty A private treaty sees a property publicly advertised at a set price for sale, encouraging serious buyers with appropriate finance to inspect it and submit offers. All offers are presented to the seller, as and when they come in, for review. Private treaties can be advantageous for sellers, saving them time, allowing for better negotiation and providing greater privacy. Off-market Off-market sales invite qualified and highly motivated buyers to inspect a property before it is advertised to the public. This allows the seller to test market response, gain positive and negative feedback, and gauge pricing expectations. They can also save you time and effort preparing the home fully and some money in marketing costs. It is important to note that an off-market sale means that buyers around the country and overseas are unlikely to see your property and its availability to the market, which can be beneficial for those who require discreet privacy. Expressions of interest (EOI) The EOI method is most commonly applied to unique properties that are hard to compare or difficult to price. These properties are advertised with calls for EOI without disclosing the selling price. Once the intention to sell is made public, the market response is tested, allowing the seller to gain positive and negative feedback and gauge pricing expectations.