One important decision to make when selling your property is choosing the most suitable method of sale. Different methods of sales have different advantages and disadvantages depending on the type of property, market conditions, personal situations such as timeframe and goals, and your personal preference.

There are five main sales methods: auction, price, sale by negotiation, expression of interest/set date sale, and tender.

Auction
Advantages: Timeframe approach; ensures competition; unconditional sale; transparency; the vendor is in control.
Disadvantage: No conditional offers initially.

Price
Advantages: Buyers know what the price is; can deal with conditional offers.
Disadvantages: If priced incorrectly you may sell at a lower price; no timeframe; purchasers may not engage in property on price; not considering the features and benefits.

Sale by negotiation
Advantage: You can accept conditional offers.
Disadvantages: No time frame/no urgency; offers are often conditional; buyers often try to get a bargain.

Expression of interest/set date sale
Advantages: Timeframe approach; owner can accept conditional offers; deadline sale.
Disadvantages: Offers are often conditional; buyers often don’t understand this process; no transparency.

Tender
Advantages: Timeframe approach; allows confidentiality; ideal for challenging properties; interested parties have to do due diligence;  a very formal process that locks buyers in.
Disadvantages: Non transparent; buyers often don’t feel comfortable with the process.

Each sales method has its pros and cons. You need to weigh them carefully and choose the one that suits your situation best.

Yan Davies, a long-time North Shore local, has amassed a wide network of quality clients and superior knowledge of the area. She is a straight talker who enjoys an open communication style and ethical business model. She works hard for her clients, driven by a sense of duty to provide a high level of service. She holds a Masters degree in business and administration and speaks English and Chinese fluently.

Yan Davies 燕
021 585 590
yan.davies@bayleys.co.nz
Licensed under the REA Act 2008