SELLING AT AUCTION
This selling strategy is based on ‘no pricing market’ where the propert is offered for sale at a public action on a pre-determined date.
A traditional auction campaign runs over a 4 week period prior to the auction. The seller has the choice to sell prior, at auction or negotiate afterwards.
Auctions create a sense of urgency and days on market are traditionally less when compared with private treaty sales.
Competitive bidding will dictate true market value and often achieves higher than expected results.
SELLING BY PRIVATE TREATY
This selling strategy is based on ‘fixed price marketing’ where the property is advertised at a set price or price range and the owner waits for someone who wants to buy.
There is no set date for selling which allows buyers to view the property in their own time. Time on the market is often longer, as there is no perceived sense of urgency from either the seller or the buyer.
Interested buyers usually offer or negotiate at a lower price than the seller is asking.
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