Private Sale

What is a private sale? 

A private sale in real estate refers to the process of selling a property directly between the seller and the buyer, without involving an auctioneer. Here, the seller and their agent negotiate with potential buyers to finalise a sale. 

Is an auction better than a private sale? 

Whether an auction or private sale is better, depends on the seller's preferences and the property's market conditions. An auction can sometimes result in a higher sale price due to competitive bidding, but it also carries the risk of the property not reaching the reserve price. 

A private sale offers a more relaxed process, giving the seller more control over the negotiation process but may delay the timeline in securing a buyer. Ultimately, the best method depends on the seller's goals and circumstances. 

Cost of selling your house privately 

The main cost saving in selling your house privately comes from the fact that you don’t have to hire an auctioneer. However, your agent will likely still insist on investing in things such as effective marketing, which cost may vary from home to home.