At Ray White Unlimited we understand that there is a lot more to selling your home than simply placing a ‘For Sale’ sign in front of your property. We appreciate the magnitude of the decision you are making and take this responsibility very seriously.
Below you will see the three major marketing strategies we use in the sale of property i.e. sale by Exclusive Agency, Public Auction or Tender.
Sale by Public Auction
The sale of property by auction is widely recognised as the most effective and successful method of achieving a premium price for your property in the shortest possible time. This is achieved by the following;
- Your property will be marketed without a price thus opening it up to the entire market and eliminating the possibility of underselling
- A tailored marketing campaign will cast a comprehensive net to capture as many buyers as possible actively and passively on the market
- Ties in with any time-frame that suits your needs
- An Auction marketing program is an impressive demonstration of your commitment to sell, motivated purchasers like to know that they are dealing with a motivated vendor
- The unconditional contract of sale will be on your terms and conditions
- An auction date creates a sense of urgency yet still allows purchasers ample time to complete their own inquiries and arrange finance. On the actual day of the auction each potential purchaser can clearly see their competition, which builds a competitive, emotive environment, often resulting in a premium price
Your property would be placed in our hands as exclusive agents for the agreed period of time. As your exclusive agent we are committed to actively marketing the property for sale in a manner agreed to by all parties.
Under this arrangement the property will be promoted to the market usually with a predetermined asking price. The terms of the final contract can be changed as a consequence of negotiations with the buyer.
Some consider this method suitable if they are not in a hurry to sell and are prepared to wait until the right buyer comes along.
- Placing a price on your home guarantees that the amount set will be the maximum price you will be likely to achieve. People often offer less, but rarely more
- This can lead to the temptation of clients over-pricing their property, which itself can have a negative effect upon the price achieved
- As a result of a lack of deadline, there is little urgency placed upon potential purchasers to buy your property
- Their own personal needs and the general market conditions are the only two things placing pressure on the buyers
Sale by Tender
The marketing concept for this strategy is similar to that of Auction except that both you and the purchaser can achieve a sale without the loss of confidentiality associated with a Public Auction.
The purchaser must complete a form of tender and submit this together with a preliminary deposit to the agent before the determined closing date. As the seller, you may accept, reject or further negotiate with whichever tender you wish.
The disadvantage is that a purchaser may impose conditions with their offer and these conditions could be subject to considerable negotiation prior to the sale being effected. As a consequence of those conditions, the sale may fail to proceed to becoming unconditional.
Another disadvantage is that the ‘heat’ of an Auction environment – which can lead to results beyond expectations – is lacking in this method
Each method however has its place and a discussion with one of our professional representatives will reveal the one that will most benefit your property and your personal needs.