Property Selling Methods

Let me start with some feedback.  Forsyth’s Selling Your Home Seminar and Expo on Wednesday night was a fantastic success.  One hundred and eighteen acceptances, three great speakers and over twenty experts in their relative fields, from tradesmen to solicitors, to stylists to valuers, all there giving great advice. 

There were also fourteen prizes won on the night – everything from free auctions, photography packages to bottles of champagne.  We will be running another event before the end of the year, or very early in the New Year and will keep you informed.

Some of you may remember I asked Joe Hockey, on facebook, how the carbon tax would affect real estate?  I haven’t heard back from Joe yet but I’ll let you know if I do.

There are so many ways to sell a home these days. All these methods have their place and their market and the exciting news is you can have a combination of almost any one of these to suit your situation or a changing market.

There’s auction, private treaty (for sale), tender, expressions of interest (which are very similar), online auction, quiet sale and pre-auction.  When choosing the method of sale, it is important for you to know the ins and outs of that method, but just as important, is that the market place (the buyers) who understand the method.  For example, tender or expressions of interest are a very good way of selling a property especially when it is hard to determine a price and when you want to keep the results less public.  However, many buyers do not understand this method of sale so it is often kept to the more expensive properties where the buyers are more commercially minded.

A quiet sale, in other words just dealing with buyers on the database – therefore, no signboard and no internet - can be an extremely effective method of selling a property as the buyers feel special because they have been introduced to a property not exposed on the market.  However, you do run the risk of missing out on other buyers.  Naturally, a pre-auction quiet sale gives you another line of attack at selling a property because, if you don’t sell it for the price you would like, you can always turn around and openly market it for a sale by auction. 

I think we will see the market fairly quiet until after the Olympics when we will see more stock come on from then until Christmas.

Sellers, the spring market has begun.  It’s time to act and advertise your property on the best dates and times to get the premium result.

We have three auctions this weekend – one in Willoughby, one in Castlecrag and one in Northbridge.  Three different styles of homes, three different areas.  Can’t wait to see what happens!

Happy home hunting. Please share any comments at james@forsyth.com.au.