Methods of Sale
We commonly recommend auction in circumstances where prior offers are best not considered (although they still can be), subject always to your reserve price. This can be particularly appropriate to unusual properties which will attract strong demand. Trustee companies, mortgagees and local, state and federal government bodies commonly insist on this method.
Private treaty with a fixed price
In this instance, the property is offered for sale with a set price. This method can have a high success rate in the crucial first four weeks of marketing, provided a market-related price has been established at the outset. Otherwise, a sale is generally achieved after a few price reductions and a protracted selling period.
Private treaty by Negotiation
The major obstacle in selling a property is usually the price. Selling by negotiation can overcome this by quoting a range value, but this needs to be at or close to your accepted price to keep faith with the market.
This has an immediate effect of attracting more inquiry, more inspections and often, more offers to purchase. We agree with the recent government legislation that prohibited properties being sold by negotiation being advertised with a price range of no more than ten percent.
Your local Raine & Horne agent will help you carefully consider the merits of the three methods of marketing, and your objectives in achieving a sale and recommend the best option for you.