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How to Choose the Right Selling Method for Your Property
- VCAP Connect
- Jan 26
- 2 min read
Selling a property involves more than just listing it on the market. Choosing the right selling method is crucial to achieving the best outcome. In Australia, there are several common approaches, each with its advantages and considerations. Here’s how to decide which one is right for you.
Private Treaty
A private treaty sale involves setting an asking price and negotiating directly with buyers.
Advantages: Gives you control over the price and negotiation process. Buyers have time to consider their offers, which can lead to competitive bidding.
Considerations: If priced incorrectly, the property may sit on the market too long, reducing buyer interest.
Auction
Auctions are public sales where buyers bid for your property, often resulting in a sale to the highest bidder.
Advantages: Creates urgency and competition among buyers, often leading to a higher sale price. The sale is final on the day, with no cooling-off period.
Considerations: Marketing and auctioneer fees can be higher, and there’s no guarantee the property will sell on the day.
Expression of Interest (EOI)
EOI invites buyers to submit their best offer by a set date.
Advantages: Offers flexibility and allows you to gauge market interest before committing to a price.
Considerations: The process can be less transparent for buyers, which may deter some.
Off-Market Sale
An off-market sale involves selling your property without public advertising. Advantages: Discreet and cost-effective, suitable for sellers who want privacy or have pre-qualified buyers. Considerations: May limit exposure and reduce the pool of potential buyers.
For Sale by Owner (FSBO)
Selling privately allows you to manage the entire process yourself. Advantages: Saves on agent fees and gives you complete control over the sale. Considerations: Requires significant time, effort, and knowledge of the selling process.
Factors to Consider When Choosing a Method
Market Conditions: A seller’s market may favour auctions due to increased competition, while private treaty or EOI might work better in a balanced or buyer’s market.
Property Type: Unique or high-value properties often perform well at auction, while off-market sales may suit niche properties.
Your Goals: If you’re seeking a quick sale, an auction or off-market approach may work. If you want to maximise price, a private treaty or EOI may be better.
Budget and Time: Consider the costs and time commitment required for each method, including marketing, agent fees, and preparation.
Why Choosing the Right Method Matters
The selling method you choose can significantly impact your property’s sale price, time on the market, and overall experience. By understanding the options and aligning them with your property, market conditions, and personal goals, you can set yourself up for a successful sale.
