Ways you can sell your home

You may have bought your current home by making an offer and negotiating from there; or at auction, by submitting a tender or by set date of sale.

Now that you’re on the other side and looking to sell your home, what do you need to consider from a seller's point of view?

The pros and cons of each way to sell

Selling by	Advantages	Disadvantages
Offer and negotiation
Can be done through a sole or general agency, or privately	there’s less pressure on the seller you can take your time to consider offers and wait for the right price you can negotiate until you get a deal that suits you buyers have a price range to guide them	you need to be sure of your asking price buyers may try to negotiate the price down offers may have conditions included
Auction
Can only be done through a sole agency	you don't have to set an asking price (but you do set a reserve, which is private) you have a set day for the auction a keen buyer may pay a top price to buy the property before it goes to auction competition between buyers on auction day may push the price up a sale at the auction is unconditional if the home doesn't sell you can negotiate with the bidder/s	it's a very public process you may have advertising costs to pay even if you don't sell, on top of real estate fees
Tender, or set date of sale
Can only be done through a sole agency, or privately	you don't have to set an asking price it's a private way to sell buyers put in their best offers - there's an element of competition between buyers offers are usually received by a set date you don't have to accept the offers/sell you can sell early if you want you can negotiate with some or all those who put in offers	some potential buyers are put off by the 'closed' nature of tenders you may have advertising costs to pay even if you don't sell

Private sale vs. selling through an agent

Selling by	Advantages	Disadvantages
Private sale
	you won't need to pay a real estate agent's fees you're in control of the whole process there are companies that can help you manage your private sale (like providing you with an advertising toolkit). These elements usually cost less than using a real estate agent	you'll need to get your home valued and set an asking price or tender date yourself doing it yourself doesn't mean it's ‘free' – there are still costs like your lawyer's fees and potentially advertising costs you'll need to wear many hats to manage everything from advertising to being a salesperson, and be available for property viewings whenever needed
Real estate agent
Can be done through a sole or general agency. Fees vary between commissions, commissions and a base rate, or fixed fees.	your real estate agent/s will take care of organising advertising, promotion and open home days the agent will deal with potential buyers' offers, and showing them the property	fees vary a lot between agencies, but could include a base fee of around $500, and a commission starting at 4% of the sale price