Blog Post

Should I Sell My Inverloch Property By Auction Or Private Treaty?

Leo Edwards • Jan 05, 2019

Where Do Buyers Come From?

Keys To New Home,First Time Buyer

In the digital age, buyers become aware of a new listing very quickly; Sometimes within just hours of the listing. This means that a wave of all buyers that are ‘in-the-market’ can often hit within the first one to two weeks. However, statistics indicate that once a buyer ‘discards’ a property, they rarely reconsider it! This is why it can be an advantage to market a property without a price, or price it correctly at the start of a campaign. Otherwise, you run the risk of your property ‘stalling’; and being dismissed in the buyer’s mind. This can lead to a lengthy time on the market, and ultimately a lower sale price.

Should I Stay Or Should I Go Now

THE AUCTION METHOD IS RECOMMENDED FOR PROPERTIES:

  • In a healthy market the aim is to achieve a premium price.
  • When a set time frame is a prime requirement.
  • Where the client is comfortable using market demand to help achieve the price.
  • For any property in any market where the client is committed to sell.
  • A premium price comes from competition between buyers. The more buyers, the more competition, the higher the price.
  • With price removed, inquiries are often greater which increases the opportunity of producing the premium buyer.

THE PRIVATE TREATY METHOD IS RECOMMENDED FOR PROPERTIES:

  • Where time of sale is not an issue.
  • Where the client is most comfortable with a clear price.
  • Where marketing budgets are very limited.
  • Buyers usually spend 10-15% more than they intend.
  • Many owners put 10-15% on top to avoid "underselling". However this can hinder inquiries.
  • Overcoming the gap of 20-30% between the advertised price and the likely buyers' offer price, often needs the skill of an agent.
  • Pricing the property too high can kill a buyers' interest. Pricing the property too low means the 'premium' price can't be achieved.

ACHIEVING THE PREMIUM PRICE
When two, three or even more people want to buy the same property - they are encouraged to compete for it. This pushes up the price and ensures you are getting the best possible price on the day. Our job is to create maximum competition among interested buyers. We will recommend the method we believe will achieve the best price, however ultimately, you the vendor, have the power to choose the method which you feel most suits you. When selling a property, we have two primary methods of sale choices - Private Treaty or Auction.

Premium Price,Fair market price,Bargain Price

BUYER ACTIVITY

Buyer Activity,Inverloch 3996

MARKETING TIME
 The most important time in any campaign is the first few weeks. Best not to waste them! Buyers are excited by 'fresh' new listings. New listings are always of interest to the existing buyer group.

In the digital age, buyers become aware of a new listing very quickly; Sometimes within just hours of the listing. This means that a wave of all buyers that are ‘in-the-market’ can often hit within the first one to two weeks.

However, statistics indicate that once a buyer ‘discards’ a property, they rarely reconsider it!

This is why it can be an advantage to market a property without a price, or price it correctly at the start of a campaign. Otherwise, you run the risk of your property ‘stalling’; and being dismissed in the buyer’s mind. This can lead to a lengthy time on the market, and ultimately a lower sale price.

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"Your feature on our property was stunning and instrumental in the outcome we achieved. It's really nice to see such a fresh approach to selling properties"
Nic Griffiths
“The reach of their digital marketing saw us have a buyer from outside the community make a special trip to see our house and it was sold within a week of the pictures being posted”
Karen Milkins-Hendry
“We both would like to show our appreciation and gratitude for all your hard work and effort in helping to sell our property which had previously been on the market for 5 months.”
Tegan & Trent May

POWERFUL SOCIAL MEDIA ADVERTISING

Reach potential buyers where they spend most of their time, social media. The largest real estate advertising audience is on social media which has the ability to reach active or passive buyers with an audience of 17 million on Facebook and 5 million on Instagram.

WHY SOCIAL MEDIA ADVERTISING?

  • Advertise your property to thousands of relevant potential buyers, investors and tenants who you’d otherwise miss.
  • Create the best possible conditions for a great price and short sales process.
  • Advanced, smart property targeting shows your ads to people identified as:
ACTIVE BUYERS: Interested in a property like yours, actively looking right now
PASSIVE BUYERS: Interested in a property like yours, not actively looking right now
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