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SELECTING THE RIGHT METHOD OF SELLING YOUR PROPERTY IS VITAL TO ACHIEVING ITS FULL MARKET VALUE. HERE’S WHAT YOU NEED TO KNOW.

What's The Best Way To Sell My House? Auction, Private Treaty Or Expressions Of Interest...

How you choose to sell your home can influence whether or not you receive its full market value. Selling at auction can create a competitive selling environment but comes with a larger marketing spend; a private treaty affords you more control but may take longer to sell; and calling for expressions of interest can crate buzz around a luxury home but may waste your time if you don’t get the offer you’re looking for.

Selecting the right selling method essentially comes down to two key things: the particular features of your home and the current demand for it in your local market. Understand that and you’ll go a long way to achieving the best possible price for your property.

Auction

Auctions can be a very effective way to create a competitive environment that puts buyers under pressure. They also give you the benefit of knowing when the property will likely sell and go into settlement, which makes planning a lot easier. Auctions will also usually provide a faster sale, which may be important if you’ve purchased elsewhere. However, you’ll probably need to spend more on marketing in order to draw the largest possible crowd to the auction day, and may need to negotiate with the highest bidder if the property fails to meets its reserve.

Private treaty

Selling by private treaty is great if you want more control over the sale of your property. You’ll work with your real estate agent to set an asking price based on your home’s current market value, have more time to consider offers and have more room for negotiation with buyers. The ball is in your court here. Decide to accept an early offer to sell the property fast, or bide your time waiting for the right offer. It all depends on your personal situation and how long you’re prepared to leave the property on the market.

Expressions of interest

Buyers are invited to put an offer on your property during a period of usually four to six weeks. You then review the offers and choose to either accept a bid or set the property for sale by private treaty. Expression of interest works well if your property showcases distinctive features or is genuinely unique and will attract strong buyer interest. It’s most often used in the luxury market where buyers may be willing to make a higher offer to secure their dream home.

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Seller Information

Sometimes information is hard to come by in this industry! So we've made it easier for you to have answers to the questions you have when you're making decisions on your biggest asset.