Private Sale – Fixed Price
Private sale is where your property is offered at a figure determined by you, the Seller. When a prospective Buyer enquires into the property, our Sales Consultant then negotiates on your behalf to ensure the maximum price is achieved. The benefits of this method of sale are as follows:
- Less stressful in that there is no deadline coming at you.
- Marketing costs can be less as this low profile campaign is obviously lower in cost.
- You can negotiate not only the price but also the terms and conditions of the sale.
- As there is no public bidding for your property only private bidding this may be far less stressful on you, the Seller.
Private Sale – By Negotiation
This method is similar to private sale however, where it differs is that there is no fixed price but a price guide of say ’suit $500,000 plus buyers’ for example.
What this does is in effect, removes the ceiling of the price and in a strong market with competition between Buyers this can certainly be to the Seller’s advantage.
The benefits of this method of sale are as follows:
- Less stressful in that there is no deadline coming at you.
- Marketing costs can be less as this low profile campaign is obviously lower in cost.
- You can negotiate not only the price but also the terms and conditions of the sale.
- As there is no public bidding for your property only private bidding this may be far less stressful on you, the Seller.
- By removing the ’cap’ on the price it can lead to maximisation of the end price in a high demand market.
Private Sale – By Private Bid
This is the method of sale that has been used extensively and successfully by our Commercial division, so we thought we should share in that success with our Residential division.
This method combines the best elements of the public auction method with the private sale by negotiation method of sale.
When a property is offered for private sale – by private bid it is advertised with a price guide to assist potential Buyers with a guide as to the likely selling price. Interested Buyers complete a private bid registration form with bids closing by a specified time and date.
When a bid has been received that the Seller is willing to accept then we inform all other registered bidders and advise that our Seller is considering an offer and they are invited to alter their bid if they wish.
When all registered bidders have been given this opportunity, the highest and best offers are then confirmed in writing before being presented to you for your consideration.
The benefits of this method of sale are as follows:
- Places a time constraint on the Buyers, encouraging them to make their best offer.
- Creates competition among Buyers but removes the stress that is often part and parcel of Auctions.
- Your property’s profile is highlighted by an intensive marketing campaign.
- All interest in your property is in writing and not just verbal.
- Has potentially the same maximum result as public auction but in a more controlled and relaxed atmosphere for the Seller.
Public Auction
There are arguments for and against Auctions, however, the bottom line is that there is no doubt whatsoever that this is the most clear cut way of maximising the price and unconditional terms and conditions of the sale of your property.
Some of our competitors don’t or cant do Auctions and in fact are wrongly critical of this method of sale. However, we at De Freitas & Ryan firmly believe that you, the Seller, should have the choice of what can be an extremely rewarding and satisfying Real Estate experience.
With an Auction, your property cannot be sold unless it reaches your ‘Reserve Price’, however, it can be sold for well above it.
Placing your property for Auction means that interested Buyers will bid against each other at a time and date set by you. Each bidder is competing for the same property under the same terms and conditions with the property being sold to the highest bidder.
The benefits of this form of sale are as follows:
- The sale is unconditional with a 10% deposit paid on the signing of the contract.
- Your property receives maximum exposure to the public with an intense and focused marketing campaign.
- Places a time limit on interested Buyers.
- Allows you to set the terms of the sale.
- Creates competition between Buyers pushing the price up instead of negotiating down.
- Peace of mind in knowing that even though this can be a stressful situation you give yourselves, as the Owners of the property and the property itself, every opportunity to do the best you could possibly do, to maximise the sale price.
What Do You Need To Remember?
What is most important to remember is that it is your decision and your decision alone as to how your property is to be marketed. Whichever way you choose, rest assured that everyone at De Freitas & Ryan is focused on achieving the highest possible price in the shortest possible selling time.
Should you have any further questions about any of these selling methods, a De Freitas & Ryan Sales Consultant would be only too happy to answer any questions. © 2010 DE FREITAS & RYAN | Disclaimer | designed by bouncingorange | SPIP technology
