These properties are offered to the market with a set price or price range.
Buyers are then encouraged to make offers, these offers can be conditional to
finance, building inspections or a sale of the purchaser’s home. Under this
method buyers are also entitled to a 3 day cooling off period.
• Buyers can purchase subject to finance, settlement
or building inspection
• More flexible time frame for sellers and buyers
• Buyers know price that the Vendors want
A public auction is a sales process whereby the property has a set date that the property
is to be sold and where interested parties gather to make bids. An auctioneer controls the
process and calls for buyers to make bids and express their interest for the property. Once
the bidding reaches the vendor’s reserve price the auctioneer announces the property
“on the market” this means the highest bidder will then be the purchaser of the home.
A board room auction is an offset of a traditional auction campaign and is triggered when
an interested party places an offer at the vendor’s reserve price prior to the auction. If
others are also interested the agent will call upon all buyers to a boardroom to state their
offers in writing. The highest offer will secure the property.
• Unconditional sale, meaning buyers cannot buy
subject to any conditions
• Fixed time frame for the sale
• Pressure is put onto the buyers to make decisions
• Social proof for buyers to bid more
• Greater likelihood of a higher sale price if multiple
• If unsold it reverts to private treaty
Off Market Sale
An off market sale generally occur when sellers want a silent sale without any fuss.
These properties will not be advertised. These properties are offered to pre-registered
buyers wanting to purchase a property quickly. A deal is negotiated behind closed doors.
• Exclusive deals with pre-registered buyers only
• Hassle free sale
• No advertising expenses incurred or min.
• sales are kept confidential