There are multiple methods of selling your home in Queensland, but what are they and how do you know what is the ‘right’ method for you?
The Place team are here to guide you on which is the best method of sale for you, your property, and the current market. Read on to learn about the different methods of sale.
Off-Market
An off-market property transaction refers to a sale that hasn’t been officially marketed to the public. For many off-market transactions, the property may sell with minimal advertising or scheduled inspections, and vendors may choose this method for the privacy aspect of not having the property listed on multiple property platforms.
At Place, we pride ourselves on offering our clients access to a network of buyers from all of Brisbane’s core markets and have a well-established ‘Only on ePlace’ Off-Market platform that is exclusive to our eplace.com.au website.
Whether you sell your home off-market on Only on ePlace or utilise this selling method as a stepping stone to commence your property marketing campaign, Only on ePlace is the best digital tool for your off-market property journey.
Why sell Off-Market?
- Privacy.
- Fewer costs are involved due to not running a marketing campaign.
- Fewer inspections through your home.
- Save time.
Auction
At Place, we have been ambassadors of the Auction method since our doors opened. This process is a very progressive method of sale and uses a defined timeline to maximise price in the shortest period of time.
Auction terms ensure that buyers bid unconditionally, so when the hammer falls, the property is sold which gives the seller immediate certainty. Auctions are fast becoming the preferred method of sale by many buyers and are our preferred method of sale at Place.
Why sell at Action?
- Creates a deadline.
- Unconditional Contract.
- Transparent Environment.
- Generates Competition.
Auctions have played a large part in our success and are a point of difference in our agents' sales skills when compared to others in Brisbane. In the last two years, we have seen Auctions in Brisbane gain tremendous popularity and due to the market conditions, never-before-seen high clearance rates. You can explore more about the Auction method on our Auctions page, here.
Private Treaty
This well-known method of sale gives sellers the option to list their property for sale with or without a price. It also allows buyers to submit an offer on the property subject to finance and building/pest inspection, or any other terms that may be required.
With the private treaty method, the property is marketed, and potential buyers make offers to the agent, who then presents the offer to the seller, who then decides whether to accept an offer. Negotiations can go back and forth until there is an agreement about the price. The terms must also be met by both the buyer and seller. Your Place agent will assist you with managing the offers and all discussions will occur privately.
Why sell via Private Treaty?
- Great opportunity for negotiation.
- Price is set by the vendor and then negotiations are held with prospective purchasers.
- Ideal for those that are not necessarily concerned about selling quickly.
- Price can be disclosed to the public or it can be withheld.
Top Offer
The top offer is exactly as it sounds and allows buyers to present their offer to the vendors, in which the vendor then chooses the ‘top offer’. The difference between a top offer and a private treaty sale is that the agent and the vendor will establish a closing date for offers to be received.
Why sell via Top Offer?
- Creates a sense of urgency.
- Creates competition.
- Ideal if the vendor is selling in a timeframe.
- What offer the seller decides to accept is dependent on their goals.
Expression of Interest (EOI)
An expression of interest campaign allows buyers to submit their best offer on a property before the closing date which is set by the vendor and the agent. The vendor will then choose which offer to accept or even opt not to sell if they haven’t received the expected price.
EOI sales are often a premium property tactic, as the demand and the price for a premium property can be more difficult to gauge and potentially have a subjective price point, depending on the wants and needs of a buyer.
Why sell via EOI?
- Allows potential buyers to come through the property multiple times.
- Vendors can choose to accept an offer or opt not to sell.
- What offer the seller decides to accept is dependent on their goals.
- Allows vendors to gauge what price their home could fetch.
No matter where you are in your selling journey, your local Place agent will be able to assist you with choosing the optimal method of sale for you and your property.
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