Selling Your House

Marketing your property

Miranda makes sure you understand where your advertising dollar is best spent; it needs to be more about your property and less about promoting an agent and their company. The size and frequency of your marketing should be determined by a number of factors, including the competition in your property’s price range.

 

Preparing your property for Market

View our pre-sale house recommendation tips

View our tips to maximise the sales value of your property 

 

The sale method

List Price

This method gives potential buyers a clear guide and attracts conditional and unconditional buyers in the price range. However a Listed Price may be difficult to set accurately in a changing market.

 

Buyer enquiry over (BEO)

The price indicated is the lowest price the vendor is willing to accept and can attract buyers quickly with competing offers. With this method your home will find its value quickly in the market place. The price level can be adjusted if there are no initial offers. However if the BEO is set too high it may attract lower offers.

 

Deadline sale date

A deadline private treaty is similar to a tender with a set date for offers to be submitted by. Unconditional offers can be received before the deadline date. All offers are considered after the deadline date and it may become a multi offer situation. There may or may not be a price indication with this method.

 

Sale by tender (unless sold prior)

Sale by tender has a finite timeline but offers the flexibility to sell prior if you get an offer at a level that is at the top end of your expectations. It gives you two bites at the cherry. If you do not sell early at a level you are happy with, you can go through until the tender date. It often attracts buyers in the early stage of the selling process, including people who are under pressure to buy, or who have missed out on other properties and are prepared to make an exceptional offer to take a property off the market.

 

Sale by closed tender

This is a good method if sale for a property that is clearly highly desirable to many buyers, and where those buyers will wait for the tender’s closing date. Best if there are no other houses like it on the market. In many cases, a closed tender process will deliver a highest offer that can surpass the rest of the offers in a multi-offer situation by tens and in some cases hundreds of thousands of dollars.

 

Sale by negotiation

Sale by negotiation means that the property is open for negotiation at any stage. If the property is unique with few comparisons in the market, sale by negotiation is a strategy that effectively forces the buyer to establish what the property is worth to them. Our view is that buyers need some guidance, and this strategy does little to help the sale process.

 

Auction

Auction is a popular method in big cities such as Auckland, Melbourne and Sydney, where many local and international buyers compete for properties. Auction only works if you are assured of multiple cashed-up buyers. An auction delivers a price determined by the price the second-highest bidder is prepared to pay. We often hear buyers comment after auctions that they would have paid more if they had to.