What is the Best Way to Sell My House? – Do you want to know – What is the Best Way to Sell My House?
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Plaza Real Estate is the Professional Real Estate Agency serving Metropolitan Adelaide, surrounding suburbs and country areas.
Discover your Home Value or Book an Appraisal by calling Eriks on 08 83961100.
Q. What is the Best Way to Sell Your House?
A. There are 9 Different Types of Sale…
The most common method of sale is by a private treaty which accounts for around 70-90% of real estate transactions.
Others are an auction, set sale, tender, expressions of interest, price on application and a low-key sale. Private sale has a better alternative called the partner program.
Private Treaty # 1
A sale by private treaty means you offer the property to the market at a listed price or a price range and invite offers from interested purchasers. This way you have the ability to vary the price whilst it is on the market and you will also have the opportunity to consider each individual offer from potential purchasers.
In South Australia, you can offer a single fixed asking price, a price range of up to 10% or no price given. Other variables or different wording such as Offers from $, Offers Over $, are no longer allowed.
You can accept cash unconditional offers, subject to finance and/ or sale conditions or additionally acceptable contingencies.
Auction # 2
You set a reserve price with your agent (the minimum price you will sell your property for) and the agent prepares for the auction on the specified date and time. There are laws for conducting an auction, so it is best left to an experienced auctioneer on the day. If bids don’t reach your reserve price, your agent may negotiate with the highest bidder on your behalf.
Auctions can induce a sense of urgency and strong competition amongst buyers, however, the stress of an auction can also put some buyers off.
Only buyers who have unconditional offers as cash or pre-arranged finance can register and bid. Those who need to sell and/ or require subject-to-finance or other conditions cannot bid.
Those who need to sell their property to buy yours and/ or require subject-to-finance or other conditions cannot bid.
There is no cooling-off period.
Set Sale # 3
Combines private treaty, price range selling with the intensity of an auction campaign and allows subject-to-conditions into the mix.
As the name suggests a date 25 days after the marketing begins is the targeted endpoint or deadline to have all offers and registrations of interest presented for the seller’s consideration.
If the vendor receives an acceptable offer at any time during the marketing campaign, all registered buyers are contacted. They have 24 hours to the close of business the following day to submit their best and final offer.
An additional advantage is that unlike auction, your price is never publicly disclosed. Any offers are not disclosed to other buyers.
Here are some more specific details on how the set sale works.
Tender # 4
A tender is a formal sale process often used for commercial & industrial properties. Though seldom used in residential sales. It requires potential buyers to submit a proposal in response to the request to the owner’s advertised tender.
There is usually a time limit imposed when the purchasers highest & best offer must be made. There is usually no further negotiation.
Expressions Of Interest # 5
An expression of interest is similar to a private treaty sale, however, a formal written offer must be submitted for the property usually by a specific date. This process is also seldom used for residential.
A variation is where no price is given and buyers are encouraged to make offers. Unlike an auction, it is less stressful and allows for subject-to-conditions being made.
It can especially suit unusual property or where there a few comparable sales. It certainly has a place to be used for residential properties in these circumstances.
Price On Application # 6 – (POA) – A property listed with a sale price of “POA” means buyers will need to contact the agent to receive pricing details. This is not often recommended as it annoys purchasers and many simply won’t call. It reduces the number of interested buyers significantly.
Low-Key Sale # 7
Although a competitive marketing and sales process is normally the best way to achieve the highest price for your property. Sometimes, there are good reasons to sell your home without opening it up to the market. You can read the Low-Key Sale Blog Here.
Private Sale? # 8
A. In this case, it means private sale as in ‘for sale by owner’.
Sellers often mistakenly believe they’ll save the agents fee. That’s exactly what the buyers think too. So no-one really wins here. I know many investors and professional buyers who target private sellers because they usually buy the property for much less than it’s worth. There’s often little negotiation plus an agent is not there to protect the seller if things take a turn for the worse with potential buyers.
Here’s something you may like to know:
As founder and CEO of ForSaleByOwner.com, Colby Sambrotto naturally put his own techniques to work selling his personal property. Unfortunately, despite his best efforts, nothing happened. His trendy New York condominium sat unsold for six months!
Eventually, he gave up. Mr Sambrotto not only hired an agent, he even agreed to a full fee and marketing budget. His decision paid off, and his condo was soon under contract.
What was the key?
Experience…
Based on his knowledge of the market, Jesse Buckler pushed the CEO to raise his asking price. When they listed the condo, the savvy agent set their sale price $150,000 higher than originally marketed.
Despite his expertise in the FSBO sphere, Mr Sambrotto didn’t realize he was sabotaging his very own sale. By incorrectly pricing his trendy condo in a hot market, he actually scared away potentially interested buyers!
Sometimes that’s all it takes to close the deal on an unsold home –
An Expert…
And when the expert you hire helps get your home sold for more money, it’s really a no-brainer.
CEO of ForSaleByOwner.com or not, Colby Sambrotto would certainly agree!
And he’s not the only one: Craigslist founder Craig Newmark has stated at multiple conferences that he loves his real estate agent. His business gives many owners an opportunity to post their own home for sale. Craigslist gives owners a platform to attract local buyers including Australia, without an agent.
But, when Craig has real estate deals to do, just like Mel Gibson, Nicole Kidman, Vince Colosimo, Tina Arena & other celebrities…
THEY hire an agent.
Partner Program – An Alternative to Private Sale? # 9A. Yes, it’s called the Partner Program
Rather than just be left on your own or a with lack of local support. We developed a system for sellers who want to DIY or be more involved.
So, if you want to save on agent fees and do not want the traps and pitfalls of a For Sale by Owner by Private Sale.
This is the Partner Program…
We provide all the marketing and everything needed to sell your property as well as negotiate on your behalf. We do it all, except you do the opens yourself and save some money in the process.
Check out Partner Program here.
Are you looking for more answers to your Real Estate Questions? We can help, just call 08 83961100 or check out our Videos.
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Mission and Values
We believe in home ownership, for us, it’s personal as well as a big part of the Australian Dream.
You can trace the idea of owning land, since not long after the First Fleet arrived.
The merging of the individual and private property is basic to many people lives.
It makes lives better, unites neighbourhoods and our country is stronger because of it.
We’d love to help you own yours, whether it’s your first, second or the next one!
If we could show you how to Market Your Property, to more Targeted Buyers, through Specific Online & Offline Strategies, that get you Multiple Offers… All backed by a Real Guarantee!
“Your Home SOLD in 90 Days or Less or We SELL it For FREE”…
Would You be Interested in Knowing More?
If Yes, Call 08 83961100.
Our Marketing Will Put Your Property in The Spotlight so it Becomes The Star Attraction.
Why is This Important?
Because the internet allows buyers to eliminate as many homes as possible before they…
- actually, get into their car
- to look around the community
- drive through the neighbourhood
- before they examine your street
- then consider the outside, before
- they step inside to inspect your house
As any of these can be a show stopper!
It’s imperative that Online & Offline Marketing, especially the Photographs & Your Property Presentation meets their expectations.
We Need to Make Sure, They Turn Up!
So, You List It + We Market + Negotiate Hard + Sell It = Your Home SOLD!
The fact is, for 99% of us, real estate and property are our number one asset in life.
This is what our hard earned money goes towards.
It’s only natural that people take a keen interest in their money and assets and want trusted people to help them look after it.
And if you want the same thing…
You’ve come to the right place!
Our Purpose
It’s important that YOU know, our purpose is for YOU to be so outrageously happy with the help we provide that you’ll gladly introduce us to at least two people you really care about before your transaction closes.
Not because you feel obligated, but because you truly believe they’ll benefit.
Our intent is about helping people, just like you.
Clients treat us as their personal property-asset advisers, you can do the same.
Whatever you want to know, ask us or check it on our site.
Because property without people is just a building. It needs people to bring it to life and give it some soul. Without people, a building has no purpose.
Our expertise? Is helping people, work through the Sale of their Real Estate and Property needs.
The Plaza Real Estate & People Business can be summed up as… All-Inclusive!
Regardless of race, colour, creed, sexuality, religion, ancestry, marital status, age, gender or anything else. We do not care if sellers are straight, gay, coloured or from Mars.
You can also read through our site in another language to suit you. Scroll to the End of this Page and ‘Select a Language’.
We HELP People to SELL, Just Like You.
Your personal situation, circumstances and information will always remain private & confidential.
It’s important that YOU know, our purpose is for YOU to be so outrageously happy with the help we provide that you’ll gladly introduce us to at least two people you really care about before your transaction closes. Not because you feel obligated, but because you truly believe they’ll benefit.
As Your Agent, Because, We Are On Your Side – You Can Rely On Us To Be
- Your Trusted Consultants
- Your Skilled Negotiators and…
- The People Who Oversee ALL of Your Transaction Details
We Communicate and Always Keep You Informed!
You’ll be in Safe Hands. With over 25 years practicing Real Estate, the Plaza Real Estate team have helped scores of families, couples and singles to successfully make a move, then gladly get on with their lives.
Happy couples, Retirees, Deceased Estates, Separations or even Banks threatening to take over. We’ve assisted in ALL sorts of situations. Joyous to sad plus everything in between.
The vast majority have referred friends and loved ones to us over the decades because of our unwavering support through their best or occasionally worst of times.
Clients become friends and have come back to us multiple times.
Teamwork – Together We’ll Help You Get Your Property SOLD… Let us Show You How!
Need convincing, please check out the Testimonials from past clients.
You see, there’s no need to take Pot Luck in finding a competent as well as an experienced sales team.
Our people seek to understand, then communicate with all parties, to make the move as smooth and comfortable as possible.
Not every agent nor agency is capable of dealing with the angst, high emotion and sometimes drama involved, in a clear, calm and thoughtful manner.
We Do NOT Give Up!
We SELL EVERYTHING… but we do Not just LIST Anything! We List Property that Owners ‘Want to Sell’. We do not list property that owners want to ‘Test the Market’ – with no interest in actually selling.
If You Really Want or Need to Move…
We’ve Got You Covered!
Over the last few years, we’ve Sold ~100% of the property that clients have trusted us to ‘List For Sale’.
Why?
We Tell You the Way it is & Will Not Make False Promises!
There’s no need to ‘test the market’ because we’ll tell you the way it is.
No made up stuff. Just honest, transparent information & advice, that you can rely on & act upon.
Some agents treat Appraisals like Election Promises & their story changes once you are Listed for sale… We do not do that.
“You need 1 agent who will fight like hell for you than 10 who talk crap“
Simple really…
We Change People’s Lives… Let us Help Change Yours.
Call 08 83961100 Today & We’ll Guide You Home too!
Got questions, comments or feedback? Email [email protected]
To find out more, you’re welcome to call 08 83961100 to arrange a chat with people that care.
Alternatively, Book a Free Consultation or Get Your Home Value Here. We’ll Guide You Home!
Feel free to browse the rest of our Blog for more tips tricks and helpful info you can use.
Not sure of some of the terms & meanings used? Check our comprehensive Glossary, Abbreviations and FAQ’s!
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Thanks for reading…
What else would YOU like to know about? What would make a great story?
Do you have any specific questions or advice on buying, selling, renting or investing? Real Estate trends? Local, interstate international? Info on the buying or selling process? How to sell or buy? What NOT to do?
What can you TELL us about?
Your neighbourhood – What do you love? Shops, Parks for families, pets, to relax? Restaurants, pubs, hotels, places to go, things to do? Anything else at all? Share Your Own Real Estate, Property, Wisdom & Experiences… The Good, The Bad or The Ugly? What have you learned that other people should know?
Know someone who needs help?
You can REFER them here.
Whatever Topic or Suggestion you have… email us at [email protected] or call 08 83961100.
We’d love to hear about your ideas.
Like most things in life, these are recommendations only. It is not legal advice, it may or may not suit your own circumstances and you may need to make your own additional enquiries.
Regards Eriks & Team Plaza Real Estate
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