Method of Sale

August 28, 2020

Our agents will take you through the options and help you decide the best method for selling your home, based on your property’s style, location, current market conditions and how quickly you want to sell.

Private Treaty

Private Treaty is the most common way to sell a home. The property is advertised “for sale”, generally with a set asking price. Buyers must make “blind” offers – meaning they won’t know how much any other buyers may be offering. Sellers who don’t want the pressure of an auction can see the fact that there is no set time
frame for the sale as a benefit. This can also be a negative factor though as the lack of a set time frame generally results in a lack of any sense of urgency for buyers.

You agree on an asking price for your home.
Your home is then advertised for a period of time, or until it’s sold.
Prospective buyers will submit an offer by way of Offer & Acceptance, which will be negotiated by your agent, on your behalf.
The Offer & Acceptance (sales contract) is signed, the property is then Under Office until all conditions (if any) listed on the contract are fulfilled.
Sale conditions are to be met by the due

Sale by Tender / Expression of Interest

The tender / expression of interest process requires prospective buyers to submit the highest they’re willing to pay for your home (an offer), by a set date, with a price guideline given. Offers are kept confidential. You’re able to accept or reject offers at your will, or your Southern Gateway Real Estate specialist can negotiate further. Sale by tender/expression of interest is a more relaxed and controlled way of selling your home and is growing in popularity.

Auction

Auction is often used when a property has unique factors that could draw considerable public interest, or when you want to sell your home quickly. There are three opportunities to sell using this approach – before the auction, at auction, or immediately afterwards.

The auction process involves:

You choose an auction date, time and place.
You set a reserve price with your agent (the minimum you’re willing to sell it for).
Conduct a short, intensive marketing campaign to gain maximum exposure and interest.
Auction takes place and the agent encourages competitive bidding.
If you don’t reach the reserve price on auction day, you can either decide to pass it in (not sell) or negotiate with the highest bidder.
You can achieve sales in excess of your reserve price
Once a bid has been accepted, a cash unconditional contract is signed there and then.
10% deposit is made on the day with no cooling off period.
Settlement date agreed.
Property is under contract.

Selling your home by public auction encourages prospective buyers to act quickly and emotionally and can often gain extraordinary sales prices, reflecting the true market value of your home.

Getting the right price

Setting the sales price for your home is one of the hardest and most emotional decisions you’ll have to make. This is where our expertise can really help. We assist you in setting a realistic asking price after researching and considering comparative sales prices and competing properties in your area, potential buyers, current market demand and your home’s special features. Once potential buyers have been identified and market trends have been evaluated, we’ll design a marketing campaign specifically for your property.

Marketing your property

The first 21-days are when you’ll get the most interest in your home. Your Southern Gateway Real Estate specialist will design a well executed marketing plan to gain maximum exposure for your home during this period, and beyond if necessary.

We’ll formulate a multi-media campaign to capture the attention of your home’s specific target market to find that perfect buyer. This includes signage, adverts, editorial for newsletters, direct mail, window displays, internet profiles and our extensive email database.

Your property will be loaded onto our innovative VaultRE real estate system, which allows us to list your property on all the major real estate websites in Australia in addition to Southern Gateway Real Estates modern and easy to navigate website. These include reiwa.com.au, realestate.com.au and domain.com.au and keeps your property consistently at the top of search engine returns. Should you decide to add video tours to your property we can easily upload these to a national audience.

The system also allows our agents to produce online brochures and floor plans to use on websites, along with email campaigns where we can monitor interest in your property and feedback results instantly.

First impressions count

Now you’ve made all the big decisions, it’s time to get your home in order to increase interest and entice potential buyers. Here are a few tips to get you started:

Outdoors

Tidy your front and back yards by removing any toys, rubbish, leaves, weeds and any evidence of pets.
Wash your windows and remove cobwebs under verandas, carports and around windows.
Check all hidden areas where a buyer might look. Things like flaking paint on eaves, posts and window sills might need to be touched-up. Check if your front door needs painting or cleaning.
Make sure your boundary fences and gates are in good condition. A quick repaint or repair job could make the world of difference.

Indoors

De-cluttering is the most important thing to do inside your home.
Make sure all your bench/table surfaces are clear and remove unnecessary items from your floors to create the impression of spaciousness.
Open all curtains and blinds to let in the natural light and show off garden views.
In the eyes of the buyer, the two rooms of most interest are the kitchen and bathroom. Make sure they’re sparkling clean and at their best.