Quick Guide to Selling Methods

NZ SELL - Quick Guide to Selling Methods

Here are three recommended methods for selling your property:

1. Auction

Some of the benefits of selling your property by auction include:

  • Vendors have total control over the sale process.
  • Auctions attract more buyers to your property because prospective buyers aren’t put off by an asking price.
  • The auction date creates a sense of urgency that prevents buyers delaying their decision and lets them know you are serious about selling.
  • You are protected by a reserve price. This means your property won’t sell unless bidding reaches a pre-agreed level.
  • There is no ceiling price so you have the opportunity to achieve a price above your expectations.
  • Auctions produce an unconditional contract for sale with a set settlement date.

2. Private Treaty

Some of the benefits of selling your property by private treaty include:

  • A fixed price makes it easy for buyers — they don't need to ‘guess’ your desired sale price.
  • The price can be adjusted throughout the marketing stage, based on qualified buyer feedback and local market conditions.
  • This method of sale is a tried and tested style of marketing.
  • It assists buyers to formulate offers that address your desired selling price, which leads to a faster negotiation process.

3. Tender — selling to the highest bidder

Some of the benefits of selling your property by tender include:

  • This method of sale shows you are confident about your property and a successful sale.
  • Tenders offer the intensity of an auction but without the potential stress of an auction day.
  • Tender enables you to keep the price you may accept for your property discreet and lets the market dictate the price buyers are prepared to pay.
  • A tender has a closing date to create a sense of urgency in the buying process.
  • This method of sale generates competition for your property.

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