Sales Methods
Pros: •Seller does not have to accept the highest bid in an EOI campaign •The set time frame creates competition as buyers have to put their best offer forward to secure the property •Offers confidentiality for both buyer and seller •Unknown creates uncertainty and could receive higher than usual offers as fear of loss. •Developers favour this method Cons: •Buyers are unaware of other offers for competition •Not disclosing the sales price can put some buyers off particularly if there are not many comparable sales
Pros: •Greater control over the sale process •More time to consider offers and to negotiate with buyers •Less pressure on both the buyer and seller to negotiate a deal •Potentially less expensive marketing campaign Cons: •Getting the listing price right – if its too high it will deter buyers and too low the seller will not maximise his profit on sale •Can be on the market for a longer period of time •Usually have conditions on the contract like finance, B&P and cooling off period
Pros: •Unconditional sale / transparent process •Creates urgency and competition leading to a higher price •Property marketed without a price •You are protected by your reserve price •Quicker sale as the auction has a set timeframe and unconditional Cons: •Short marketing program doesn’t suit some buyers and can’t put special conditions at auction •Higher marketing costs to reach more buyers and to pay for the auctioneer •Some buyers like developers prefer to transact under private treaty conditions
Knight Frank Gold Coast | Level 7, 64 Ferny Avenue, Surfers Paradise QLD 4217
Knight Frank Gold Coast | Level 7, 64 Ferny Avenue, Surfers Paradise QLD 4217
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