What is the Best Way to Sell My House in Adelaide’s West: Private treaty or auction?
By Amanda Scali

26/05/2016 10:16am

What is the Best Way to Sell My House in Adelaide’s West: Private treaty or auction?

The clock is always ticking while you have your home on the market—both for you and for potential buyers.

Choosing the right selling strategy for your situation will help you to achieve the best price for your property in the shortest time.

Putting your home up for sale by private treaty is our most popular method and one that we encourage you to focus on unless you have strong reasons not to do so.

Private treaty or auction?

For most people, the private treaty method puts gives more control over the selling process and outcome than selling by auction, providing greater peace of mind.

If you do have a compelling case to sell by auction, the key to a successful outcome is all in the timing—to match your personal needs, as well as the mood of the market.

During your appraisal meeting, ask your McGrath Real Estate agent about the pros and cons of sale by private treaty versus by auction (as well as the comparative costs for commission, fees and marketing) and allow his or her expertise in your local area to guide your decision-making.

The treaty and auction strategies operate under different mindsets and knowing where your property is positioned in the local marketplace is key to determining which will best serve you.

Selling your home by private treaty

Sale by private treaty involves starting with the highest price the market would accept—and here your McGrath Real Estate agent’s local experience is invaluable—and negotiating down to a figure at which a motivated buyer is willing to sign a contract.

Choosing sale by private treaty allows time for the ideal buyer to come along—the one for whom your property is a great fit and who is, therefore, willing to pay the best price for it.

Selling your home by auction

By comparison, selling by auction involves starting with the lowest price you are prepared to accept (the reserve) and having a skilled auctioneer elicit the highest price possible from a competitive pool of bidders.

Putting your home up for auction sets a strict timeline in motion that, while it may suit your circumstances, will necessarily limit the pool of prospective buyers.

The importance of choosing an agent you can trust

Your local agent knows what properties in your area are currently selling, by what means, and how to choose and best use the selling strategy suited to your price goals and timeframe.

At McGrath Real Estate we have a vast pool of experience in selling property in Adelaide’s western and coastal suburbs.

With us, you can be sure you’re dealing with a local who knows the lie of the land!