Which is the best way to sell your home in 2018?

Auction vs. Private Treaty vs. Off Market – Which is the best way to sell your home in 2018?

2018 has become a year of uncertainty for the Real Estate Industry. With the market slowing down, it’s becoming a buyers’ market, with many homes for them to choose from. With this in the back of vendor and agent minds, it’s becoming more difficult to determine the best way to sell your home.

There are three different ways to sell your home; Auction, Private Treaty and Off Market, all with a range of qualities that will benefit the sale. However, with the changing market in 2018, not all of these qualities will be beneficial.

Auction sales tend to be popular for agents and vendors as they run across a set four weeks providing them with a deadline and sense of urgency. However, if not marketed to perfection, an Auction can fail miserably or result in a lower sale price. A booming market, highly sought location or a unique property are the best scenarios for Auction.

Cameron Nicholls, Director of Nicholls & Co Estate Agents says “I like auction campaigns because you have the option to sell under private treaty conditions beforehand, giving the vendor greater selling opportunities. You can use the auction process but shift your strategy to private treaty if you so wish. It is important to remember that in a cooling market, it is not the end of the world if a property is passed in and that this stigma needs to change”.

Private Treaty is traditional and although there is no deadline, this process allows the agent to work with the buyers as and when they view the property to achieve the best possible price.

Off market allows the agent to sell the property without any public advertising, giving the process a sense of anonymity. Local agents will reach out to those buyers they have dealt with previously, who they know are searching for similar homes in an attempt to sell the property. Cameron believes “Off Market is an effective method of selling in a cooler market so long as the agent can demonstrate a strong buyer services ethos and has a track record of matching buyers with sellers off the market”.

“Having a skilled agent and auctioneer makes a large difference to the sale process and price of a property” adds Cameron.