METHOD OF SALE
Method of Sale
Each property and client is different and that’s why Agency by Glenn Regan has more than one way to sell a property.
Sale by private treaty involves the establishment of an asking price at the beginning of a campaign. It is best employed when there is little room for upward price negotiation, such as in an apartment complex where there are many similar properties available. When selling by private treaty it is crucial to establish the right asking price as one set too low will not maximise your return, while one set too high can put off potential buyers and lead to a protracted sale.
Sale by public auction uses the force of competition to help drive a higher sale price. With a fixed time frame, auctions can create a sense of urgency among buyers. On auction day a skilled auctioneer and social proof help raise the sale price well above what may otherwise be achieved. Those selling are protected by the reserve price and the conditions of an auction mean there is no cooling off period for buyers.
Tender or Expressions of Interest
- Fixed time frame for the sale
- Bids are kept confidential, which leads to buyers competing against themselves not others
- The seller has control as they don’t want to, but knowing this figure can lead to future negotiations
Off Market Sale
We understand everyone is different and their situations vary. With this, selling “off market” may be an option. With our strong database of buyers, we are able to market your property without going to the general public. Essentially, it is sold on the quiet.
An Agency by Glenn Regan consultant will be happy to discuss the right option for you and your property depending on the market, the property and your needs.