Selling Tips

Selling Methods
There are three common means of selling residential property in West Australia. These are; “Auction”, “Private Treaty” (standard for sale) and “Expressions of Interest”.
With “Auction”, the seller sets a reserve price and the competitive market forces determine the maximum price.  The pre-Auction marketing campaign takes place over four Saturdays. Auction is considered to be a fair means of determining market price.
Private Treaty (Normal ‘For Sale’)
With “Private Treaty”, the seller sets a maximum price and this price is usually negotiated downwards. The inherent risk is an excessive asking price resulting in a long marketing campaign necessitating a reduction in price and the risk of the property becoming stale. 
Expressions of Interest
With “Expressions of Interest”, the seller decides upon a base price and like Auction a marketing campaign takes place over four Saturdays. Buyers submit what is essentially a blind tender, and (unlike Auction) buyers are not aware of the differential in price between their bid and their competitors’. This sale method has produced many instances where premium prices have been obtained for properties that we have marketed.