When it comes to selling, there's rarely one process that works for all. A range of sales methods, marketing techniques, consultants and other factors contribute to a unique selling experience - and it's our job to find the best combination for you.
Selling methods can be split into two main categories:
Your consultant helps you define a price that will be achievable and deemed acceptable by the buying market. Setting the price is crucial - too low and you miss out on return; too high and you miss out on potential buyers. Realistically priced properties generate a good number of enquiries and having a price in mind gives buyers flexibility to make conditional offers.
A no-price strategy places greater emphasis on the property and typically attracts a greater number of potential buyers. This offers an opportunity for a premium price and a higher rate of success in a shorter timeframe.
There are three main methods of selling without a price:
Auction is one of the oldest methods of sale dating back to the Roman times, and it's a very important method. A well-run auction programme ensures your property gets maximum exposure and there's a real opportunity for you to achieve more than you expected.
With auctions, you actually get not one, but three opportunities to sell your property. The first, in the lead-up to the sale, generates huge exposure and you can elect to consider pre-auction offers. The day of the auction is the best opportunity to stimulate competition and achieve a fantastic result. And it's not over if your property does not sell at the auction. The aftermath produces a whole new range of buyers and we often see many more motivated buyers enter the process at this stage.
Click here for our comprehensive guide to selling at auction.
Click here for our comprehensive guide to buying at auction.
Selling by tender offers a set deadline for prospective purchasers to put forward their best offer for your property. After this close-off date, you have the option to accept, decline or negotiate any offers.
The benefits of selling by tender are that it offers a great level of flexibility, the deadline creates competition and urgency and buyers can become emotionally engaged with the property before they consider price. On top of this, all tender details remain undisclosed and absolutely confidential.
Deadline Sales are similar to tender in that you set a deadline by which buyers must submit their offers, all offers are confidential and you can accept, decline or negotiate offers on the deadline. One difference is that tender uses specific tender documents whereas deadline sales use the standard sale and purchase agreement as is usual in New Zealand.
Selling by negotiation again removes the need for you to set a sale price for your property, placing the decision of valuation in the hands of the buyer instead. An offer can be received at any time and you can then accept, decline or negotiate with the prospective purchaser. In this method, all buyers are eligible, focus is on the property rather than the price and it removes the risk of under-pricing. It's particularly suitable for unique properties whose values might be difficult to predict.