1 . Fo r Sa l e
Negotiation advantages include: • • •
A focus on the property, not the price; The vendor’s negotiator may be able to significantly add to the selling price; and The perception of less pressure for the Vendor.
Disadvantages: • • •
The price established may be under or over what the market is prepared to pay; Price may be based on previous stock that has been undermarketed or misrepresented in the marketplace by other agents; and Time on market is often not tested appropriately and can be used by weaker agents to garner a deal within a short time period.
2. Tend er Pr o c e s s
Tender advantages include: • • • • •
Preservation of your privacy; Creation of urgency through deadlines relating to offers; A focus on the property –not the price; Buyers having the opportunity to submit their best offer; and Allowance for negotiation.
The major disadvantage associated with this option is the fact that the agent misses the opportunity to place parties within a competitive environment. This option is not transparent and does not allow disclosure to all parties which potentially means that buyers budgets are not stretched to capacity. Again this option is suitable for agents who are perhaps weaker negotiators.
3 . A uction
Auction is a proven method of Sale. Looking back at the previous campaigns run by Place Newmarket, it is during our Auction Campaigns that we have achieved the highest volume and level of sales with the highest rate of success. During the sales process, Place does not exclude offers, however an Auction campaign ensures the following points: