When it comes to buying or selling a property, the process traditionally involves two methods, as follows:
Each has its own advantages and it is advisable to speak to your agent about the benefits of each method.
Ray White has successfully utilised both methods, however we find sale by Public Auction to be an effective method for properties located in the top 50 suburbs and with features that are in high demand. Utilising an Auction is not only effective in generating competition but also unconditional contracts.
Also, where a property is likely to attract more than one qualified buyer in the marketplace, auction allows competitive bidding to increase the final sale price. In the event that you choose to submit your property for sale by auction, research the success of each company’s auctioneers, as a skilled auctioneer can contribute significantly to your end result.
Most auction marketing periods run for about three to four weeks.
Private Treaty is the most commonly utilised sale method in South Australia and is also referred to as ‘For Sale’. This is where a price is placed on the home which allows buyers to submit offers with conditions such as subject to finance. If selecting the ‘For Sale’ method, it is an absolute must that your agent is a highly skilled negotiator. The best way to ensure this is to ask them to demonstrate their negotiation skills and provide a list of their recent sales showing negotiated results.
Alternative methods of sale include: Expressions of Interest, Tender and Off Market
If you would like further clarification on any of the methods of sale, one of the Ray White West Torrens team members would be happy to take the time to explain them in more detail.