Should You Go to Auction?
When it comes to selling your home the sales method you choose can significantly impact your outcome. Auctions are a popular, fast-paced option, but they come with a limitation: they’re geared exclusively toward cash buyers who are ready to bid on the day. This can reduce the pool of potential buyers and might not always yield the highest price for your property.
The Auction Route
Auctions are renowned for their speed and the competitive excitement they create. The bidding process can drive up the price and lead to a quick sale. However, auctions cater only to cash-ready buyers, which automatically excludes those who need to arrange financing. This limits your market reach, and there’s always the pressure of auction day, which can be a high-stakes experience for both sellers and buyers. Plus, if bidding doesn’t meet your reserve price, you risk going home without a sale.
Price by Negotiation: A Broader Market
Alternatively, choosing to sell by Price By Negotiation allows you to engage a wider pool of potential buyers, including those who may need time to arrange finance. This method provides more flexibility, letting you work with any interested party and negotiate terms to potentially achieve a higher sale price. If time is on your side, Price By Negotiation can give you a more strategic approach to finding the right buyer at the right price, without the pressure of a single auction day.
Which Method is Right for You?
The best method depends on your unique situation and goals. If you’re looking for a fast sale and are comfortable limiting your buyer pool to cash buyers, an auction might be the right choice. However, if reaching a broader market of prospective buyers and taking a more measured approach sounds appealing, Price By Negotiation could be the better option. This method offers inclusivity, flexibility, and often, a smoother transaction process.
Get Expert Advice
For a free appraisal and personalised advice on selling your property, reach out to Tina Lum, a licensed salesperson with REA 2008. With her expertise, Tina can help you navigate the selling process and determine the best method for your needs. Whether you choose to go to auction or opt for Price By Negotiation, Tina’s guidance can make all the difference.