BOURKE Commercial & Prestige Agents
Marketing property is not as easy as it sometimes appears.
Therefore, a specialist team local firsthand experience is imperative to achieve the best result.
BOURKE’S Principal and owner Jamie Bourke began his real estate career on the Gold Coast in 1986 at the age of 16. As a combined office, there is 210 years of property experience to draw from.
Sure, a Seller can fluke top dollar on the odd occasion, but why “roll the dice”, when you do not have to!
Sometimes it is not just the end sale price that is important to a Seller.
It can also be special terms like settlement or milestone dates/periods to achieve a certain outcome, legal and accounting structures and general advice drawn from this experience that results in the Seller being totally satisfied.
A seasoned performer, verses a beginner, may add tens or hundreds of thousands of dollars to a Sellers end price. In some cases, to achieve the top price, the settlement terms need to be negotiated. This can only come from experience in the negotiation arena.
BOURKE operatives work for the Sellers to achieve the optimum price and terms for each property marketed.
Methods of Sale
Selling via Private Treaty
A standard property transaction is known as a Private Treaty sale.
This is when a price is set, and Buyers are asked make offers. It is quite rare for a Buyer to see immediate value and agree to the Sellers list price, unless the property is offered under value.
In reverse, if a property is listed over what the market perceives as market value, it will not attract as many Buyers or inspections. It runs the risk of sitting on the market for an extended period of time and going stale. This is the worst position for a property Seller to be in.
Even registered valuers with years of training and knowledge, get it wrong on occasions.
Selling via Auction
By marketing a property without a price barrier, it is the attributes of the property and its marketing that generate Buyer activity.
A public auction commands that all prospective Buyers gather at the same place and time to compete against each other to own the property.
The bidding is on the Sellers terms and not the Buyers, making them all competitive and easy for the Seller compare.
Once all bidders have reached or exceeded their price, the Seller determines whether to accept that highest bid and place the property “on the market”. If the Sellers price expectation is reached, the property is then sold to the highest bidder.
The obvious advantages to an auction are:
|1.||There is no price barrier for Buyers to shy away from, so more enquiry and inspections.|
|2.||All potential Buyers gather at the one place and time to compete against each other and not the Seller.|
|3.||The Seller remains in control and has a degree of certainty to plan.|
|4.||The Seller determines the settlement period and terms.|
|5.||The bidding and sale are cash unconditional. There is no cooling off period, no finance clauses, no building & pest reports etc.|
|6.||An auction is an upward bidding motion, not downwards with a list price.|
There is no price barrier for Buyers to shy away from, so more enquiry and inspections.
All potential Buyers gather at the one place and time to compete against each other and not the Seller.
The Seller remains in control and has a degree of certainty to plan.
The Seller determines the settlement period and terms.
The bidding and sale are cash unconditional. There is no cooling off period, no finance clauses, no building & pest reports etc.
An auction is an upward bidding motion, not downwards with a list price.
Sale by Tender or Expressions of Interest
These methods are like the auction method by having a date to work with.
However, it is private and not public bidding. Some Sellers prefer to keep negotiations private and away from the public arena for a myriad of reasons.
In some cases, an Expressions of Interest campaign is run to make a short list of Buyers and then only those registered are selected to compete in a formal tender. This is sometimes the case for properties with a lot of leases to read through or there are other delicate situations involved.
These options can be further discussed in person on a case-by-case basis.
One thing that can be assured when dealing with a BOURKE agent, our clients confidence will be treated in high regard and we will do our utmost to exceed all expectations.