Which Marketing Method is Best for You?

This depends on your circumstances, the property you are selling and on prevailing market conditions.

Closed Tender

  • Tender date is set at beginning of marketing
  • All offers are submitted in writing to vendor on a pre-determined date
  • No offers considered prior to that date
  • Offers can have conditions attached
  • Vendor has the option to reject all offers
  • Vendor has the option to negotiate with a buyer
  • Process is very private and confidential.

Auction

  • Auction date is set at time of marketing
  • Vendor occasionally reserves the right to sell prior
  • Auction bids must be cash
  • No conditional bids can be considered
  • Vendor sets a reserve price prior to auction, below which he will not sell
  • Process is very public. 

Asking Price

  • Vendor will set an asking price at beginning of marketing
  • Vendor can negotiate with potential buyers
  • Buyers generally expect to buy below asking price
  • Buyers can submit conditional offers
  • In a multi-offer, vendor may achieve asking price or occasionally even slightly more.

Buyer Enquiry Over

  • Vendor sets a price slightly below what they expect to receive for the property
  • Vendor can accept conditional offers
  • Buyers are aware that they will have to pay above BEO (Buyer Enquiry Over)
  • A specially useful way of marketing when there is a shortage of homes and plenty of buyers
  • This method encourages buyers to compete against each other to secure a home.

Deadline Sale

  • No price indicator is published except possibly RV (Rateable Value)
  • A short time span until deadline date
  • Has many of the tender benefits without having to involve vendor's solicitors.

Other Methods

  • "Sale by Negotiation", "Open Tender" or "Sale by Private Treaty"
  • These are really all the same selling method, but under different names
  • No expected price is indicated.