Everything Real Estate
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By Dave Rawlingson and Janette Brennan
Considering Selling?
That’s fantastic, have you thought about the sales method you would like to choose?
Private Treaty
In WA this is the most popular method of sale and would consist of over 90% of Geraldton’s sales. This is a set price, a price range or offers from.
Most sellers in WA tend to use this method of sale as this is what most people know and are comfortable with. Are you aware of the other methods of sale?
Auction
Mention Auction to a seller and they generally cringe, but our question to you is why?
Auctions are one of the oldest and best ways to get fair market value for your property, supported with a short 4 week strong marketing campaign, which have a much higher clearance rate than other methods of sales. Yes it is true that not all properties sell on Auction day, but most do sell within 2 to 3 weeks from Auction Day.
Benefits to the Seller:
~ Cash buyer
~ Settlement within 1 month
~ Less days on the market
~ Great exposure to the market place to ensure best price
Benefits to the Buyer:
~ You can see your competition
~ The seller is motivated to sell
~ With the additional marketing you cannot miss the property hitting the market
Tender
Similar to Auction and mostly used for businesses and commercial sales, Tender also has a 4 week strong marketing campaign with offers to be submitted by a set date. This allows buyer to place their highest offer, almost like a closed door Auction, which will be presented to the seller on the set date.
Private Sale
Whilst selling your home privately appears to very attractive by saving on fees, there are some downfalls for both the seller and buyer when not using an agent:
For the Seller:
~ Minimal expose (you cannot sell a secret)
~ Buyers tend to not like dealing with the owners direct
~ An agent is working to achieve you the best possible price available in the market today
For the Buyer:
~ May find it harder to tell the owner what you think of their home and what it is worth to you
~ An agent has a duty to tell you the relevant facts of the property
~ You are eligible for the REIBA grant
If you are still unsure of the best way to sell your home, please feel free to contact Team Brennan at any time.
In the end it all comes down to motivation, Private Treat obviously works and properties do sell via this method every day and some sellers do have success selling their own home. Auctions are not everybody’s cup of tea, although they do produce results over a shorter period of time.
As always your feedback is much appreciated and if you have any questions you would like us to answer, we are more than happy to hear from you.
Over and Out.
DISCLAIMER: We have in preparing this document used our best endeavours to ensure the information contained is true and accurate, but accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies or misstatements contained. Prospective purchasers should make their own enquiries to verify the information contained in this document.
David and Janette are "Team Brennan" at Ray White Geraldton. Learn more here.
