Method of Sale
Once you’ve appointed us to work with you on selling your property, the next step is to decide how you’d prefer to sell it. There are a number of ways to consider in Queensland – private treaty, public auction or sale by tender/expression of interest. We will take you through the options and assist you in deciding the selling method for your property, based on your property’s style, location, current market conditions and how quickly you’d like to sell.
Private Treaty is the most common method of sale. This is where you and your EJ Property Group specialist agree on an asking price for your property; your property is then advertised for a period of time, or until it is sold. Prospective buyers will submit offers, which will be negotiated by us, on your behalf. A Contract of Sale is signed (this will have a short cooling off period where you or the buyer can withdraw from the contract). Selling your home by private treaty can take a little longer than other methods, however you’ll have more time to consider offers and negotiate for the highest selling price.
Auction is often used when a property has unique factors which could draw considerable public interest, or when you’d like to sell quickly. There are three opportunities to sell your property when using this approach – before the auction, at auction, or after the auction. The process involves choosing an auction date, time and place; setting a reserve price with your agent (the minimum price you’d be willing to sell for), and conducting a short, intensive marketing campaign to gain maximum exposure and interest. An auction environment is usually emotionally charged, and encourages strong, competitive bidding. As no upper price limit is set, you sell to the highest bidder on the day. If the reserve price is not met at auction, you can either decide to pass it in (not sell), alter the reserve price, or have us negotiate with further buyers. Once a bid has been accepted, a cash, unconditional contract is signed, and a 10 percent deposit is made on the day. There is no cooling off period with auction sales. Selling your property by public auction encourages prospective buyers to act quickly and emotionally and can often gain extraordinary sale prices, reflecting the true market value of your home.
Sale by Tender/ Expression of Interest
The tender /expression of interest process requires prospective buyers to submit the highest price they’re willing to pay for the property (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 we can negotiate further. Sale by tender/expression of interest is a more relaxed and controlled way of selling your property.
Getting the right price
Setting the sales price for your property is one of the hardest and can be one of the most emotional decisions you’ll have to make. This is where our expertise can really help. We can assist you in setting a realistic asking price, after researching and considering comparable sales price, and competing properties in your area, potential buyers, current market demand, and your property’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. We at EJ Property Group will design a well-executed marketing plan to gain maximum exposure for your property through this period, and beyond if necessary. We’ll formulate campaign to capture the attention of the perfect buyer. This may include signage, print adverts and editorials in local and national newspapers, direct mail, internet profiles and our extensive email database. Your property information will be added into our MyDesktop real estate system, which allows us to list your property on the major real estate websites in Australia, such as realestate.com.au, realcommercial.com.au and domain.com.au, and keeps the property at the top pf the search engine returns. The system also allows us to produce online brochures for use on websites where we can monitor enquiry on your property.