There’s more than one way to sell your property and choosing the most suitable method is an important part of the sales process.
Bayleys In the North knows every property is unique and all aspects require careful consideration before a sales method is chosen. While each method has merits for certain types of properties, a consultation with a Bayleys salesperson gives you the expert advice as to what is best for you and your property before going to market.
Whether it's a residential, commercial, industrial, lifestyle or rural property sale - we'll know what's best for you and your property.
There are five main sales strategies to adopt when selling your property.
Auction
Advantages
Timeframe approach
Transparency
Ensures competition
Market determines value
Unconditional sale
The vendor is always in control
Disadvantages
No conditional offers initially
Expressions of
Interest / Set
Date of Sale
Advantages
Timeframe approach
Transparency
Ensures competition
Market determines value
Unconditional sale
The vendor is always in control
Owners can accept conditional offers
Allows confidentiality
Terms may not suit buyer
Buyers can set terms
Disadvantages
Offers are often conditional rather than unconditional
Buyers often don’t understand this process
Transparency
Price
Advantages
Buyers know what the price is
Can deal with conditional offers
Disadvantages
If priced incorrectly, you lose buyers or sell too cheaply
No timeframe
People may discard property on price and not consider the features and benefits
Sale by
Negotiation
Advantages
You can accept conditional offers
Disadvantages
No timeframe/ no urgency
Offers are often conditional
Buyers often try to get a bargain
Tender
Advantages
Timeframe approach
Allows confidentiality
Ideal for challenging properties. Interested parties have to do due diligence
Disadvantages
Non-transparent
Very formal process that locks buyers in
Buyers often don’t feel comfortable with the process