Putting your house on the market is a big decision. Now you must choose “how” to do it. Which of these four sales options best fits your circumstances, ambitions and expectations?
Auction is a public sale at a specific place, time and date. A marketing campaign quickly corrals motivated buyers into an intense emotion, high pressure situation. Feelings of urgency can prompt buyers to finalise a deal instantly — avoiding a negotiation stage, where your risk increases. Our skilled auctioneer along with competitive bidders, can deliver great results.
- price is flexible
- set date encourages people to act quickly
- auctions flush out potential buyers to negotiate with, if your minimum price isn’t reached
- sale is guaranteed once you hit your reserve.
- there are no conditions on the sale
With private sale — or private treaty sale — you fix a price and anyone can respond. ‘Unsuitable buyers’ should be weeded out, as people immediately know if your property is affordable. Your price is also a starting point for negotiations. Unlike auctions, there’s no specific time window, so you remove urgency and just wait for the right offer.
- at Nicole Gervasi we don’t charge an auctioneering fee
- final sale prices can remain undisclosed
- more time to consider offers.
EXPRESSION OF INTEREST (EOI)
With an EOI, buyers submit a written offer for your property by a set date and time. EOIs generally run four to six weeks so your agent can get the word out and source interest. After the close-off date, we collectively review the submissions.
- Multiple offers are presented at one time for your decision
- buyers don’t know other buyers’ offers
- if no offers reach your reserve, the passed in price remains confidential and won’t impact future selling potential.
OFF MARKET (OM)
With an OM, buyers are sourced through the network, databases and referral systems. Buyers submit a written offer for your property. OMs generally run three weeks prior to a marketing campaign to determine interest levels and market price expectations
- keen buyers, who don’t want to miss out, make their best offer to avoid competition
- buyers referred to Off Market properties are generally red hot to buy
- Avoid all marketing costs
- Completely confidential sale
Don’t hesitate to get in touch with us if you want any further advice on how to sell your home.