We believe the method of sale utilised must achieve a competitive purchasing environment, a sale by a given date and encourage prospects to participate.
There are three basic methods available:
- Private Treaty: This is where your property is placed on the market with a price, Open for Inspections are conducted and it is great when sellers want a quiet sale.
- Auction: This method comprises extensive marketing and Open for Inspections. It is a great system, particularly for properties that are unique, are presented well or enjoy an outstanding position. In other words when demand for a property will be strong and buyers will compete to buy it, this is the ideal time to auction.
At Richardson & Wrench, we don’t believe in part-time auctioneers. We use the best – the Chief Auctioneer for R&W Australia-wide Peter Baldwin, who flys up from Sydney to conduct our auctions.
- Tender: This is most preferable for commercial property.
There are many tools available to us now. Marketing by the internet is essential, with advertisements and virtual tours allowing people to shop for properties whilst at work or home. This method tempts buyers from around the world and we have made a very large number of sales this way.