Private Treaty

A private treaty sale happens when a property is listed for sale with an asking price. The buyer makes an offer to the agent, who then presents the offer to the seller, who decides whether or not to accept it. Typically, negotiations go back and forth between the buyer and seller, via the agent, until an agreed price is reached.

The asking price for this type of sale should always be set a little higher than the price the seller will actually accept.

Auction

Selling by auction is a public, time-pressured process governed by the Property, Stock and Business Agents Act (NSW). The highest bid over the reserve price wins, bidders must register before taking part, and the auctioneer’s decision on any disputed bid is final. It suits properties where competition between buyers is likely to drive a strong result.

Not sure which method suits your property? Speak with us. We can help you decide.