For Sale V Auction
Depending on market conditions and certain fundamentals of your property, the two main methods of selling real estate in Sydney are the Auction method and Private Treaty method (For Sale). Your chosen representative of RRE will explain the advantages and potential disadvantages of both methods to you as well as recommend the most suitable method of sale tailored specifically for your property.
Private Treaty - For Sale
The property is submitted on the open market place with a predetermined asking price based on market analysis and discussions between you and your agent. As there is no “Sale Date” as with Auction, your marketing budget and projections will differ to the typical intense four week advertising campaign of an Auction sale.
The negotiation skills of your agent are vital to the private treaty method. A price which realistically represents top market value without being “over the top” is essential, often in Sydney's Eastern suburbs the first four weeks of any campaign dictates the most response from potential purchasers. Rely on the expert advice of your agent and discuss all aspects of a unique marketing plan for your property.
The For Sale method allows buyers either to accept the asking price or, more likely, start by making a lower offer. Your agent will handle the negotiations, which will be aimed at raising the offered amount to your predetermined price or, possibly, higher if more than one buyer is interested.
Auction
Auctions allow an intense four week period of marketing your property to be sold on a specific date. In certain market conditions, the Auction method of sale can achieve a result beyond the expected selling range of the property due to competitive bidding from two or more potential purchasers. Auction is all about creating an atmosphere that promotes competition between buyers and thus ensuring a maximum result for your home.
A vigorous marketing campaign will allow your agent to give you regular feedback from buyers, which will assist you in setting the reserve price. You may accept an offer before the date of the Auction thus your options are open in this period to both negotiate before or rely on the competition at the Auction. At RRE we believe that the method of Sale chosen depends on whether your property is suitable to Auction or not. Your representative will discuss with you the reasons in which one method may be more appropriate than another. The right advice.
RRE PROPERTIES IS CONSTANTLY IN THE MEDIA FOR ALL THE RIGHT REASONS,
RECORD RESULTS !!
Another $85,000 over Reserve May 2011 Rosebery Auction
“Jim Michos just sold by semi home in Rosebery in May 2011. To obtain over $85,000 over the reserve I felt was a tremendous result considering the original condition of the home. With 20 contracts issued before the Auction, I felt confident in Jims ability however the result truly amazed me. If you are considering selling, and would like to deal with an agency that is non pushy and the most experienced I n this area, I would not hesitate to recommend Jim Michos and RRE Properties as excellent agents that go beyond the extra mile to please clients”
Record Non Brick Home sold in Botany $982,500
Southern Courier News Article 2010
Rosebery Auction Sold $165,000 over Reserve Price
Southern Courier News Article 2009
