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Lets talk 4 ways to sell

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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

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.

Advantages

  • 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

PRIVATE 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.

Advantages

  • 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.

Advantages

  • 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

Advantages

  • 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.

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Nikki Gervasi | Real Estate Agency in Melbourne | Nicole Gervasi Property Group

AUTHOR

Director of Nicole Gervasi

Nicole has led over $1 billion in property transactions, building a future-focused business driven by repeat and referral clients. Known for her strategic mindset and strong national and international network, she has built a reputation for pushing boundaries and delivering results. Passionate about the art of negotiation, Nicole helps clients unlock long-term property growth with confidence and clarity.

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FAQs

There are different ways to value a property, including an agent appraisal, a bank valuation and other automated valuations.

We use many different data points to estimate a value.

We analyse a whole suite including;

  • property type (i.e. house, townhouse, strata title etc)
  • land size and location
  • comparable sales (i.e. similar homes that have sold nearby)
  • market trends, current and historical
  • property characteristics, such as the number of bedrooms, bathrooms, garages, and the size of the property’s footprint.

We also overlay data from government bodies and other sources – pinpointing the value of a home by looking at all of its components – land plus building.

Rather than look at what season to sell it, there are other major factors that drive property values up and down.

  • Supply and demand in the current property market (Your current property market)
  • Location
  • Interest Rates
  • Property features, size 7 type
  • Property & Land potential
  • First impressions and emerging trends: For example, don’t underestimate street appeal, or if there is a policy momentum behind an emerging trend, such as energy efficiency features.
  • The state of the economy

When selling your home, there are various approaches to consider that can help you maximize both the speed of sale and the sale price. One method is selling off-market, where interested buyers and investors are invited to view the property and make an offer before it’s publicly listed for sale. While this approach can be advantageous in some cases, it’s important to also consider the potential downsides before deciding if it’s right for you.

We aim to secure a good tenant for the property as soon as possible. In our experience, a well presented, well priced property will go relatively quickly. Factors such as rental vacancies in the area, property features, owner expectations, condition of the property, presentation and price will all contribute to the time a property is on the market.

We begin by verifying the applicant’s identity through a 100-point ID check and request rental references from their current agents or landlords to assess their history as tenants. Employment checks are conducted to confirm their financial stability and ability to meet rental payments. Additionally, we perform a detailed search to ensure they have no history of payment defaults, tenancy disputes, or property damage.

During our routine inspections we compile a detailed inspection 3D full HD walk through that also includes photographs outlining the condition of the property and note any preventative maintenance that is required and any damages that have occurred. You will receive one of these every six (6) months. We always update our owners on how the tenants have treated/cared for the property throughout their tenancy when it comes to lease renewal. Maintenance that has been addressed at a property will be inspected and we discuss with our tradesman to ensure that all work completed has been completed to a high standard.

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