Our experienced agents will guide you on the best selling strategy for you based on the following:
• Your previous real estate experience
• The ideal timeframe for your sale
• The method currently achieving the best results in our market
• Expected buyer interest in your home
Selling by Auction
Auction is by far the most popular method of sale in the Bayside area and in Melbourne itself. We currently have high Auction clearance rates and are achieving exceptional results at Auction.
Auction provides a set time frame, creates serious competition amongst buyers, is unconditional and offers a transparent sale. Throughout an Auction campaign, we will continually update you with buyer interest so that if an exceptional offer is made prior to Auction, you have the opportunity to consider it.
What Are the Rules of Auction?
There are strict rules about how an auctioneer conducts an auction, and how attendees must behave. Penalties may apply to anyone who breaks these rules.
The auction rules and an information sheet that explains auction laws in Victoria must be displayed for at least 30 minutes before the auction starts. The rules and information sheet are set out in the Schedules to the Sale of Land (Public Auctions) Regulations 2014, which also set out the announcements an auctioneer must make.
Before bidding starts, the auctioneer must tell bidders:
- the auction will be conducted according to the auction rules
- the rules prohibit bids being accepted after the fall of the hammer
- bidders will be identified on request
- it is against the law to make a false bid, hinder another bidder, or in any way intentionally disrupt an auction
- substantial penalties apply to anyone who engages in illegal auction conduct
- whether or not there will be vendor or co-owner bids
- any additional conditions that apply to the auction.
During the auction, anyone can ask the auctioneer a reasonable number of questions about the property, the contract, or the auction.
The auctioneer may:
- refuse a bid at any time during the auction, including when the auction hammer is falling
- if there is a dispute over a bid, resume the auction at the last undisputed bid or start the bidding again
- refer a bid to you at any time before the conclusion of the auction
- withdraw the property from sale at any time
Selling by Private Sale
Private Sale is a form of sale whereby there is no set completion date. Private sale can either be a quick method of sale (where the property is priced correctly) or can be a lengthy process as it does not create urgency or the need for buyers to compete under pressure. Under the Private Sale method buyers have a 3 day cooling off period and have the ability to make the contract conditional, such as: subject to finance, subject to a successful pest or building inspection.
Selling by Expressions of Interest
Mostly used for the sale of exclusive homes and land allotments, an Expressions of Interest campaign has a set date for the sale without the need for an onsite auction. Buyers are asked to produce their very best offer on the set date, sometimes along with their anticipated use for the site.