THE NECESSITY OF A PHYSICAL OFFICE HAS DIMINISHED SIGNIFICANTLY

In the past, real estate agents used to be the gatekeepers of listing information serving as gatekeepers in the industry. However, the advent of the internet has revolutionized this dynamic.

Today, home buyers are exceptionally well-informed, conducting extensive research online before engaging with an agent. The necessity of a physical office to showcase properties has diminished significantly. Platforms like realestate.com.au and domain.com.au have reshaped buyer behaviour, rendering the traditional agency window displays obsolete.

Leveraging digital marketing opens up substantial avenues to reach potential buyers not only locally but also across regions and even interstate.

4 METHODS TO SELL PROPERTY

  • Private Treaty

    Allows for a multitude of marketing approaches example: a nominated price, price range or offers over

    Allows private negotiations with the prospective buyers

    This method provides the seller with more control and time to negotiate to achieve the best sale price.

  • Tender

    Sometimes referred to as a ‘Silent Auction’

    Invite potential buyers to submit an offer (Tender) for the property

    Specified closing date is nominated which then all offers will be considered by the Seller

    The Seller may choose to accept an offer or reject all offers

  • Expression of Interest

    Market the property without a price but with a certain timeframe to sell

    Buyers are encouraged to submit their ‘best and final offer’ by a certain date

    Seller can choose to accept an offer or opt not to sell if no offers are suitable

    Allows Seller to gauge what price their property could achieve

  • Auction

    Public sale that happens on a specific date, time and place

    Specific event overseen on a nominated date and place by an auctioneer

    Seller sets a reserve price in writing

    Buyers register for the auction and place bids on the property

    If the reserve price is surpassed, the highest bidder must complete the transaction there and then

    If the reserve price is not surpassed the property can be handed in and no sale will proceed