It takes more than just a 'For Sale' sign to sell your property.
The professional sales team at Redlands Realty is highly trained and experienced to help guide you through the different marketing options available. Our main objective is to achieve the best possible result for you and your family.
We understand that each seller has different priorities. Some may have a certain time frame in which to sell, to fit in with other commitments, while others may be happy to sit back and wait for the 'heart buyer' to purchase their home.
Our policy is to always provide honest and open communication with our sellers. We have, therefore, provided some of the advantages and disadvantages that can occur with each method of sale. Below are the three most common marketing strategies used by residential property sellers. These will assist you and your agent to decide the best marketing strategy for your property.
For Sale at a price
This is the most common method of sale in Queensland.
Over an agreed period of time, Redlands Realty will become exclusive agents for your property. In this important role, we are dedicated to actively market your property for sale, in a manner agreed by all parties.
Often, an asking price is set and advertised in the marketing campaign. However, if buyer negotiations result in change, the contract can be altered accordingly.
- The seller has the ability to set the listing price at a level they feel their property is worth, and wait for the right buyer
- The selling agent has the ability to negotiate for you and take time to explain to buyers the positive features of your property, to achieve the best result
- Buyers feel less pressured knowing they are able to add special conditions to the contract, allowing them time to source their finance and arrange a building inspection on the property, after a price has been negotiated
- Frequently, sellers are tempted to overprice their property, which can have a negative effect on the value achieved. A property that sits overpriced on the market for more that the usual amount of time can become stale and buyers become hesitant about purchasing, even if the price is reduced
- As there is no set timeframe, less insistence is placed on potential buyers to purchase your property. Buyers will generally take their time inspecting all the properties that are available to them, before making a decision
- If a buyer is ‘subject to finance’ and offers a price that the financier deems to be considerably higher than the value of the property, there is risk of the buyer’s finance application being rejected
Sale by Public Auction
It is a common misconception that auctioning your property comes with a high auctioneer and marketing fee. Your Redlands Realty sales specialist will work with you to achieve the best marketing campaign and timeframe to suit you and your property. Generally, Redlands Realty works to a five-week campaign, with inspections and Open Homes over the first four weeks, and the auction day set in the fifth week
- Interested buyers are pressured to work within your timeframe to make an offer prior to auction, or be ready to bid on auction day
- Your property will be marketed without an asking price. Should your home appeal to multiple buyers, there is the potential of competitive bidding which may achieve a premium price for you
- When the hammer falls on auction day, the contract signed is unconditional
- Not all buyers are comfortable with bidding at auction and this method of sale may reduce the number of offers you receive
- On auction day, potential buyers can clearly see their competition. If the bidding is not competitive and falls short of the reserve price, buyers may feel that the property is worth less and could make low offers that do not reflect the true value of the home
Sale by Tender
This strategy offers a similar marketing concept to an auction sale. The buyer must complete and present a form of tender, including a preliminary deposit, to the agent before the established closing date. The seller may accept, reject or further negotiate any desired tender
- The seller and the buyer can accomplish a sale without the loss of confidentiality associated with a public auction
- All tenders must be submitted by the potential buyers within a set date.
- This is not a common method of sale. It can deter buyers that may have otherwise offered on your property, encouraging them to look for properties using a more recognised method of sale
- This method lacks the fervour of an Auction environment
- All Buyers submitting an offer are required to include a deposit at the time of submission
Be mindful that each strategic method has its place in property selling. A discussion with one of our professional agents will ensure that the style of marketing agreed upon would most benefit your property, and your personal needs.