Agent view: Selling by tender offers alternative to auctions

With the Canberra market doing extremely well, there are many ways to sell and buy property.

Another method of sale is “by tender” – very similar to an auction, but with far less stress for buyers and sellers.

You have time to consider the price you are willing to pay for the property instead of thinking on your feet in a crowd.

Multiple parties submit their best offers by a closing date (like an auction, tenders will be accepted prior to the closing date) and a round of final private negotiation, where buyers are given a second opportunity to rebid, ensures none of the competitive advantage is lost.

We feel that this is a good alternative method for those that want more time and discretion.

Since 2012 our tender sales have had a clearance rate of 96.55 per cent.

Deborah Blaine is a sales consultant at Maria Selleck Properties.