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10

August 2016

Selling Methods Explained

This information is designed to help you understand the different selling methods adopted by Quest Realty Group.

If you would like to know more, please talk to us.

Fixed Price

  • As the name suggests, this selling method sets a fixed price on a property.
  • Prospective buyers place offers on the property based on the advertised sellers price.
  • The buyer can then choose the price and terms that suit their needs best.

Offers Based on Fixed Price

If the property is priced close to market value, the seller is likely to receive offers that match the fixed price.

If the property appears over-valued or has been on the market for a long time, the seller may receive no offers or offers below the advertised price.

Auction

Auctions happen after a comprehensive marketing campaign has taken place. On the day of the auction, all buyers have the opportunity to bid on the property.

Reserve Price Explained

  • A reserve price must be reached for the property to be sold on auction day.
  • On the day, bids are invited to capture a broad market of prospective buyers.
  • The reserve price is not disclosed to bidders before the auction.
  • If reserve price is not reached, the owner may opt to sell the property using an alternative selling method.

Set Date Sale

Set Date Sale draws on the best aspects of the traditional selling methods explained above.

Benefits for Buyers

Properties sold using this method are more likely to be priced according to market value, so buyers are more likely to achieve a fair price.

How Set Date Sale Works

  • The price tag is removed from the property, enabling the market to dictate it’s worth.
  • A professional marketing campaign is run.
  • The property is then placed on the market for a maximum of 21 days.
  • Buyers are invited to offer price and terms to the seller, who chooses the best offer on or before the 22nd day.

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