Different Ways to Sell Your Property

To achieve the highest sales price, it is important to talk to your Casa Bella Estate Agent about which method they believe is right for you and your property.

Certain areas and specific properties within an area will achieve better results when sold using different techniques. So make sure you do your research and talk to your agent about the best method of sale for your property.

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Selling by Private Treaty

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This is when the home owner sets the price to put on the property for sale. Your Casa Bella Estate Agent will then negotiate with each and every interested party, finding a willing buyer who will meet your nominated price or make an offer as close to it as possible. 

It is important to ask your local Casa Bella Estate Agent for guidance when establishing your asking price. We are experts in the local area and understand demographics, market trends and pricing value. We also know about comparable recent sales in your area. Having a clear understanding of your property's value will ensure you set a realistic price.

A sale by private treaty gives the seller greater control, more time to consider offers by prospective purchasers and the ability to negotiate better terms and conditions of the sale. 
 

Once a price has been agreed between buyer and seller, the sale may still be subject to conditions. For example, the buyer may have requested a building and pest inspection or may require finance approval.

Some of the benefits of selling your property by private treaty include: 

• A fixed price makes it easy for buyers - they don't need to ‘guess’ your desired sale price.

• The price can be adjusted throughout the marketing stage, based on qualified buyer feedback and local market conditions.

• This method of sale is the most common way of selling real estate that does not involve an Auction process.

• It assists buyers to formulate offers that address your desired selling price, which leads to a faster negotiation process.

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Within the Private Treaty sales method, there are different marketing methods which may include an Expressions of Interest campaign, a fixed advertised price, a price range or By Negotiation/Contact Agent. Please find further information on these different methods below.

 

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Expressions of Interest (EOI)

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Sale by Expressions of Interest (EOI) is a private treaty sale method, this includes inviting buyers to submit an offer to purchase your property by a specified time and date. Each potential purchaser puts forward their best and final offer (in writing). 

Generally, your property will be on the market for 2-4 weeks as 'Expressions of Interest'. This will allow you to promote your property effectively while ensuring that buyers get ample time to look through the home, finalise their finance and determine the price they are willing to pay.

When submitting an expression of interest, the buyers need to include the price they are willing to pay, the conditions of sale, such as settlement dates, finance conditions, and inclusion and exclusions of the sale. 

At the end of the marketing campaign, the vendor will review submissions and choose the expression of interest that suits them the best. If the vendor doesn't find an acceptable offer, the property will usually be placed on the market with a price based on buyer feedback.

If you are a buyer putting in an offer, remember that you may only have one chance to secure the property. Therefore, always try to put your best offer forward to ensure you’re not disappointed later on.

Expressions of Interest provide you with the benefits of a private treaty sale, with the urgency of an auction but without the potential stress.

Some of the benefits of selling your property by Expressions of Interest include:

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• EOI offer the intensity of an auction but without the potential stress of an auction day.

• EOI enables you to keep the price you may accept for your property discreet and allows the competition between buyers to dictate the final sales result.

• An EOI campaign has a closing date to create a sense of urgency in the buying process, buyers may have a fear of missing out.

• This method of sale generates competition for your property.
   

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Fixed Price & Price Range

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You may see with many Private Treaty sales, a home may be marketed or advertised with a fixed price or a price range.

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Fixed Price:

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• A guide price or fixed price simply means a set price that you would be happy to sell the home for.

• A buyer sees a fixed price and from past experience will negotiate down from that price.

• If the fixed price is set at market value, you may create competition between buyers pushing that price upwards.

• If the fixed price is too far above market value, buyers will know that the price is inflated and will either negotiate down or bypass the property altogether. 

• It is essential to get your fixed price correct at the beginning to avoid extended time on the market and further devaluing of your property. 

• Extended periods of time on the market will deter buyer interest and offers as buyers will begin to wonder why the property has not sold.

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Price Range:

 

• With a price range, you will often see a range of no more than 10% between the lowest and highest figures.

• The reasoning behind this is to show potential buyers the lowest figure that the seller will accept.

• Having a price range encourages buyers to submit offers within that range.

• As with a fixed price, it is essential that the price range is within market value.

• Having too much of a gap between highest and lowest in the price range becomes confusing to potential buyers and therefore they may decide not to negotiate with such a large gap.

• Sometimes buyers will submit an offer below the price range given and it is imperative that you engage a skilled negotiator to bring the buyer back to the price range. 

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By Negotiation / Contact Agent

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Occasionally, you may see the terms 'By Negotiation' or 'Contact Agent' on a listing, what this may mean, is the seller would prefer not to make the price known to the general public.

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• Discretion and confidentiality is assured when not making the price publicly known.

• Genuine buyers need to phone or contact the agent directly, which enables the agent to discuss the property privately.

• When a buyer contacts the agency for further information, the experienced agent can discuss with the buyer in depth to see whether the property would suit their requirements and budget prior to arranging an inspection.

• This type of marketing method is usually reserved for unique or higher priced homes, where discretion and privacy is paramount.

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At Casa Bella Estate Agents we have the experience, knowledge and negotiating skills to ensure a premium result for our clients, regardless of which sales method is chosen. Your Casa Bella Estate Agent will discuss what the best sales method may be for you and your home.

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Taking into consideration, your personal circumstances, market conditions and achieving the result you desire.

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Ready to sell your home? Request a complimentary appraisal from your Casa Bella Estate Agent today for a better understanding of where your home stands in the current market.

 

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