Selling In Queensland
Selling a property can be an overwhelming, stressful and frustrating without the right Agent and the right Sale method for both you and your property. Within Queensland, we have a number of ways in which you can sell your property and our job as your Agent is to pick the right one for you, your property and the area in which your property is located.
You may be considering a number of factors when you are deciding to sell your property and we find that the most important ones are:
With properties for sale by way of Private Treaty, they are advertised with a specific price or price range which gives the market an idea or guide around the Seller's requirements for the eventual sale price. It allows buyers the opportunity to make an offer subject to various conditions including but not limited to Finance and Building and Pest opening it up to buyers who haven't already received pre-approved Finance from the bank.
A price is established with which to market the property, options can be as follows:
- Offers Over $XXX
- Just a Price (E.G. $XXX)
- Price Range $XXX - $XXX
- $XXX by Negotiation
My experience shows the best outcomes are achieved through a considered approach that creates maximum buyer interest. It is important for a marketing campaign to achieve the following:
- The creation of a strong competitive environment
- The establishment of the most appropriate sale terms and conditions for you
- A full understanding of the properties and potential
- The promotion of the property to the key target market groups
- Extensive and effective marketing
- The provision of equal opportunity to participate to all parties
- The adoption of a united team approach with our clients
In order to achieve the best result we have broken the selling process into three simple steps that we believe will provide the most effective structure in sale of the properties. Creating energy around the property is what attracts the best purchasers early. Solid marketing to our confirmed and registered database in addition to the promotional campaign will ensure that everything possible is being done to provide the comfort and security that the property is sold for its greatest price in the time frame that is acceptable to you.
The following is a summary of the selling plan.
Step 1 - Behind the Scenes
- Creative Development
- Contracts of Sale
- Database Notification
- Coming Soon Campaign Social Media
Step 2 - On the Market
- Hyperlocal Marketing - 40,000 Adverts online
- Internet Launch
- Distribution Marketing
- Buyer Appointments
- Interest & Price Guide feedback reports to vendor
- Media Release & Open for Inspections
Step 3 - Results & Decisions
- Marketplace feedback Reports
- Possible Offers
- Auction Onsite (if chosen)
- Confirmation of Sale and Price (for Auction Process)
- Sold and Awaiting Settlement
One of the major benefits of an Auction for a property is that is follows a structured campaign with a set auction date onsite so that all buyers can bid openly till the eventual sale of a property.
We would conduct a 4-week auction campaign, with the auction being conducted in the 4th week at the property, this would most likely be performed on the Saturday.
We would conduct Saturday open homes along with mid-week open homes (Mid-week in the final two weeks of our marketing campaign) and private inspections when required.
Your reserve price is set about 2 days before the auction with your agents’ guidance. Interested buyers compete by bidding and if the highest bid meets or exceeds your reserve price the property is sold and contracts are signed without a 5 day cool off period or any other clauses.
Some of the benefits of the auction process are:
Many properties can be listed for sale through various forms of advertising (internet, classifieds etc), however these properties may never receive any, or little enquiry. Most markets are currently characterised by an increased number of properties for sale, and with fewer qualified purchasers. If the property is marketed and present well and buyer enquiry is also qualified correctly, the auction process will capture increased purchaser enquiry and decrease the time to sell the property. You will be dealing with serious buyers due to the Auction contract being with no clause for finance (cash only) and with no building and pest allowance. Of course, building and pest inspections can be performed by the buyer during the course of the campaign but will not be included in the contract as a condition of sale.
Reduces the “days on market”
Statistics show that the auction process significantly reduces the time to sell the property when compared to the private treaty process. Using the current high supply and low demand characteristics within many markets, a correctly targeted auction campaign will always increase the amount of purchaser enquiry, thereby allowing the Vendor the chance to have a competitive buying and bidding environment via a deadline process.
Cash, unconditional. Not subject to finance, building & pest inspection and cooling off period when the property is sold under auction terms and conditions. If the property doesn't sell under the hammer, we are increasing our chances of receiving an unconditional exchange by capturing more qualified purchaser enquiries.
We are proudly certified as Openn Negotiation Agents. The Openn Negotiation Method brings together the best parts of the Auction Method and the Private Treaty Method in a single streamlined process. A property brought to market via this method has a set final bidding stage date and time, similar to the Auction Date, where bidders compete against each other in a short amount of time to achieve the highest figure possible in order to sell the property, but also allows flexible terms and conditions of the contract, similar to a private treaty sale. Please see the following videos which show some of the excellent benefits of this method.
Similar to an Auction, a final bidding stage date is set and a time, generally in the late afternoon during the week, without a price, and offers can be taken from the moment the property goes live and can sell straight away. Bidders have the flexibility of putting forward terms they are comfortable with, in comparison to the cash and unconditional, terms necessary at Auction. The owner has the final approval of whether to accept the prospective purchasers terms and conditions, or re-submit them to be changed. Once terms are accepted, the bidders bid will be displayed live on the Openn.com.au app and website. Bidders are then free to continue bidding against each other until the property is sold.
The excellent benefit of Openn Negotiation is that the final bidding stage can be moved around to suit our buyers and sellers should it be necessary. This option can also be utilised to help continue the momentum of bidding if we see it start to slow down.
There are many added advantages to selling by way of Openn Negotiation and these can be found on their website at Openn.com.au or through the videos included in this e-book.