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Many agents focus on the minimum price the seller is prepared to accept and endeavour to sell the property at or near this price. Here at GK Property Agents our focus is on the maximum price the buyer can pay. We use cutting edge negotiation tools and techniques to achieve this price.
There are three main methods used to sell property:
Public Auction is the normal auction process most sellers are well aware of. Buyers competing bids are disclosed to one another until a buyer gets to a price that no else is prepared or willing to go to. If this price is at or over the sellers’ reserve price, the property is sold.
In the current strong rising market, public auctions are achieving healthy clearance rates and above reserve prices.
Private Treaty is the sales process in which a property is offered for sale with or without a price until a buyer is found at a price acceptable to the seller. Expressions of interest, price on application, offers, offers above, are very prevalent. Private treaty without a price is favoured by most agents in the current strong rising market.
We recommend a 14 day price exploration strategy to explore and gain market feedback from active and genuine buyers to determine the maximum value before a price is offered.
Private Treaty with a Silent Auction. This selling method is rapidly gaining popularity. It is based on an idea developed by the late Noble Prize winning economist Dr William Zachary. It combines the best of the public auction and private treaty sales processes and greatly minimises risks and losses. As a seller determined to achieve the highest possible price in the current market, you should never let your interested buyers know what other offers you have received.
During a silent auction, buyers are not privy to competing offers and get one chance only or risk losing the property. They must submit their absolute highest offer in writing on a Property Silent Bid form. We are the only agents using this powerful negotiation tool. This must be accompanied by a signed unconditional contract with a deposit cheque by a certain date, mirroring the auction process.
Should you have any questions or would like to discuss these selling strategies without obligation, please feel free to contact us anytime.[/vc_column_text][/vc_column][/vc_row]