Contrary to what many people believe the most common and popular method of sale is the private sale.
For a private sale the agent will ask you to sign an exclusive sale authority, giving them the exclusive right to sell your property. This period is usually 90 days, but can be less. The private sale gives your agent the best opportunity to use their negotiation skills to get you the highest price from the buyers. It is also the safest and least expensive compared to auction.
If you want to leave the final selling price of your home to the buyers on the day, you can auction your home. Not all properties sell at auction.
If your property doesn’t sell at auction, and it may not, you are still committed to staying with the agent for the length of the agreement so know what you are signing.
If you are using the auction method to sell, you will also have to commit to several thousands of dollars for an advertising campaign, which you have to pay whether you sell or not. Not only does this add to the cost of selling it can also leave you out of pocket with no result.
Weigh up all your options and know your total costs and risks before committing yourself.