In this market, choosing the right sales strategy is essential to ensure sellers receive the best price the market is willing to pay.
Auctions bring interested buyers together, encouraging them to put their best offer forward, generally resulting in a good outcome due to the competitive nature.
Realmark managing director John Percudani said Realmark has conducted several successful auctions for metro and regional clients and have noted an increasing desire for sellers to utilise this sales method.
“We anticipate that this trend will continue in 2024, especially in a seller-favourable market as the auction process provides sellers with greater control in the selling process while also accelerating buyer competition,” he said.
“However, the auction method can exclude buyers who have conditions, therefore other hybrid selling methods can be used to widening the buyer pool.
“This is one reason that we have seen an even greater increase of the Set Date Sale method, which was pioneered by Realmark in WA.”
Set Date Sale draws on the best aspects of the traditional selling methods.
Buyers are given a deadline to submit offers to the selling agent, and once this deadline has been met, all offers get presented to the vendor to see if they would like to accept any of them, negotiate further or put the property back on the market.
“The reason this is favoured by sellers is that it is like an auction but with greater control over the sale timing and terms,” said Mr Percudani.
“These methods tend to reach more buyers as the property is on the market for several weeks, allowing adequate time for buyer inspections and the submission of offers.
“Whereas, with a traditional sales method buyers can place offers within the first few days of the property being listed, limiting the number of buyers coming through and potentially missing out on the best price.
“We anticipate that auctions and set date sales methods will continue to be preferred by sellers and buyers. They both provide clients with a smart sale over a fast sale solution.”
For more information on sales strategies or to speak to a local specialist contact Realmark on 08 9328 0999.