Methods of Sale

There are several different ways to sell your property, but essentially they can be grouped into two categories:

Marketing with a price or Marketing without a price

AUCTION

• Auctions allow a competitive bidding to increase the final sale price.
• Absence of price reduces the risk of it being rejected on price
• Definite date to bring buyer interest to a commitment
• Catches interest in the early weeks of your home’s selling appeal
• Creates competition which leads to a premium price
• Most efficient Days of Market and highest success rate of all methods

TENDER

• Tender is essentially a private ‘auction’ for your home.
• The home is normally advertised for around 4 weeks.
• An asking price is not disclosed for the home however a price guide is often given to interested buyers.
• Potential buyers submit a bid for your home.
• Unlike a public auction, all tender bids are ‘sealed’ and the parties cannot see each others bid.
• The seller is able to choose the offer that best suits their circumstances or negotiate with a buyer using their bid as a starting point.

PRIVATE TREATY

• A private treaty sale is when a house is offered for sale at a negotiated price.
• The normal practice is for the vendor to set a price, and you negotiate with them until a mutually agreeable price is reached.
• Unlike auction, the potential buyers do not know what others may be offering for the property.
• There is no distinct final day for the sale of the property.

OPENN NEGOTIATION

Managed by real estate agents, Openn Negotiation is a transparent sales method which helps Buyers and Sellers find the true market price for a property, through an online bidding platform.