Is Selling by Tender Right for Me?
What is a real estate tender?
A real estate tender is method of selling a property through the process of private and confidential offers made by a set deadline.
The Benefits of selling by tender
- Sense of Urgency: The tender deadline sets a finite selling period and creates a sense of urgency amongst buyers.
- Buyer Competition: A tender creates the conditions for buyer competition – which can lead to a premium price.
- Confidentiality: The result of a tender is private and confidential.
- Time to Consider: You have a five working day irrevocable period in which to decide which offer to accept.
This can be important if there are a number of parties involved in the decision. - Flexibility: A tender allows you, the seller, to be more flexible with the terms and conditions of the sale e.g. You choose the possession date.
- Level Playing Field: Because the property cannot be sold before the closing date, all interested parties are competing on a level playing field.
- Tracking Interest: All salespeople can register potential buyers for your property via a centralised online database, so we can track interest.
- No Price Limitations: By marketing without a price you are never limited by an asking price that is too high or too low, so you can attract a wider range of buyers.
- Feedback: Your salesperson will provide regular market feedback to assist you in establishing the selling range of your property.
Talk to your salesperson to find out more about tenders, including how the process works and the best way to market your home for a tender.