Keith MacDonald

03 337 6543 0274 964 799
Licensed Agent REAA 2008
03 337 6543 0274 964 799

Selling options


The Mystery of Auction

Records handed down from ancient Greek scribes document auctions occurring as far back as 500 B.C. and even though auctions have been conducted for centuries, they still remain a mystery to many sellers! 

While the term ‘auction’ is widely-recognised these days, it is still one of the least understood methods of marketing – even though it has proven time and time again to be the most successful method of marketing a property – in all markets.

Every property is different with its own unique set of features and benefits. How these are marketed is crucial to a successful outcome. Many sellers ask me: is my home an auction property? Good question!  More and more homeowners these days are finding the auction process to be the most successful strategy to ensure their property is exposed to the greatest segment of the market and achieves the best market value within a set timeframe. But while almost any property can be auctioned, it still comes down to each seller’s particular objectives and what they want to achieve with regard to price and in what timeframe. Therefore it is important that my sellers get the full picture of the four methods of marketing (including auction), so they can make an informed choice based on what suits their particular situation. 

An auction ensures that competition among buyers sets the final price – the highest price the market will bear in that particular timeframe. If effect, the auction allows the seller to compare all buyer offers simultaneously and choose the best one. It is less time-consuming than rounds of one-on-one negotiations, and it preserves the seller’s position.


Marketing with a Price

This gives the buyers the flexibility to make conditional offers. Setting a realistic asking price is crucial, and this will need to be determined in conjunction with your Harcourts Sales Consultant.

Too low and you miss out on the best return. Too high and you miss out on the potential buyers. Realistically priced properties generate more enquiries, which means higher levels of interest , increased competition between buyers and a far greater chance of a better price at sale time.


Tender

Tender is another opportunity for you to create a competitive situation without stating a listing price.

You set the terms, conditions and the deadline and prospective buyers have the opportunity to put forward their most competitive offer. Offers can be subject to conditions and do not have to be unconditional like at an auction. When you offer your property for sale by Tender everyone with an interest to purchase must seal their offer (tender) in an envelope and deposit it with us by a predetermined date and time. All tenders are then opened together allowing you to choose and/or negotiate with the one most favourable to you. The date may not be changed.


Deadline Sale

A Deadline sale is similar to a tender however not as formal.

It is an effective method of bringing one or more offers to a head for you to view. Because Deadline sale is another method of marketing without a price it can increase the number of enquiries, inspections and opportunities assisting in obtaining the best price for your property. Often Multi-offer situations can arise which is a process of a purchaser being informed that they must put their best offer forward. Marketing is usually accompanied by "Unless Sold Prior" and the date and time may be changed should you receive an early offer.


By Negotiation/No Price

If there is any doubt about the right price to put on your property and you do not want to go with a Tender or Auction it can be a good idea to market your home for the first week or possibly two weeks 'by negotiation'. 

This will allow you to obtain some market feedback through your agent, prior to advertising with a price. However, it is not a good idea to leave the property by negotiation for a longer period as buyers see it as not really 'on the market'. They understand there not being a price with an auction or tender but the enquiry may pull right back if it is 'by negotiation' for any length of time.


Get the tools

Fill out the form below if you are interested in receiving a useful selling Marketing Booklet.


What people are saying

View more testimonials

I found Keith excellent to deal with, he has kept in contact throughout and explained the processes well. I found him very professional in regards to a multiple-offer situation and felt he treated both the seller and myself very fairly. Read more

Mark - Christchurch


I found Keith excellent to deal with, he has kept in contact throughout and explained the processes well. I found him very professional in regards to a multiple-offer situation and felt he treated both the seller and myself very fairly. Read more

Mark - Christchurch


Keith MacDonald was wonderful, kept us informed and was able to deliver a quick sale with a great sale price. We did the sale from Melbourne, so all correspondence was done by phone or email. Our experience from our first point of contact has been wonderful.

John and Cheryl, live in Australia, sold a property in Cashmere


View more testimonials