Selling your home for the first time is full of important decisions which can be overwhelming without the right support and the best information.

We’ve already explored being clear on your decisions to sell and how to prepare your home for sale, there’s the all-important question of the way should you sell it. 

The Three Key Methods for Selling Property in Australia 

If you’re planning to sell property in Australia, it’s essential to understand the three main sales methods available—Private Treaty (or Private Sale), Expression of Interest (EOI), and Auction. Each approach has its own unique advantages and intricacies, and choosing the right one can make all the difference in achieving your desired outcome. Below, we’ll explore each method step-by-step so you can make informed and confident decisions. 

1. Private Treaty (Private Sale) 

This traditional method of selling property allows for a straightforward, negotiation-based approach. 

How it works:

The seller sets an asking price for the property.
A real estate agent advertises the property as ‘For Sale’ at that price.
Buyers express interest by making offers, which can be above, below, or equal to the asking price. 
The negotiation process gives sellers and buyers the opportunity to agree on terms that suit both parties. Once an offer is accepted, a contract is exchanged, and in most states, a ‘cooling-off period’ applies. 

Advantages:

Flexibility for buyers and sellers to negotiate.
Cooling-off period provides some breathing room for reconsideration after the initial agreement. 
Greater pricing control, as sellers can adjust the price during the sales process based on market feedback. 
This method is ideal for sellers prioritising stability and having time to consider their options, rather than working within rigid deadlines. 

2. Expression of Interest (EOI) 

An Expression of Interest process takes a more formal and structured route to selling property. This method is often used for premium properties or tailored sales strategies. 

How it works:

Buyers are invited to submit their offer by a specific deadline.
Offers typically include the proposed purchase price and additional terms, such as settlement periods or special conditions. 
The seller reviews all submitted offers and makes a decision based not only on the price but also on conditions. For example, a cash buyer or a shorter settlement period might create an advantage over higher-priced but complex offers. 

Advantages:

Provides sellers with multiple offers to choose from, often encouraging competitive bids.
More discretion for sellers, as offers remain confidential rather than public, unlike auctions. 
Allows sellers to assess not only price but also favourable terms and conditions. 
An EOI can be particularly useful if you’re seeking a structured and professional sales process with the flexibility to evaluate the complete package of offers. 

3. Auction 

For those looking for a fast-paced and often high-stakes process, selling property at auction remains a popular method in Australia. 

How it works:

A public or virtual auction is held at a designated date and time, where registered buyers compete by bidding on the property.
The auctioneer facilitates bidding, and the property is sold to the highest bidder once the reserve price is met.
The buyer and seller sign the contract immediately after the hammer falls, and a deposit is paid on the spot. 
Things to note:

There’s no cooling-off period. Once the auction concludes, the sale is legally binding.
Buyers must familiarise themselves with their state or territory’s auction rules and register beforehand. 
Advantages:

Creates urgency for buyers due to the set deadline. 
Often encourages competitive bidding, which can drive up the sale price. 
Results are immediate and binding, offering certainty for both parties. 
Auctions are best suited for sellers looking to achieve a fast sale or maximise interest in a competitive market. 

Which Sales Method Is Right for You? 

Choosing the right method depends on your personal situation, preferences, and how fast you’d like your property to sell. 

Private treaty offers a bit more flexibility and time, while EOIs bring structure to the decision-making process. On the flip side, auctions are all about speed and drama—perfect for the adrenaline junkies among us. 

Harcourts Is Here to Help 

At Harcourts Rata & Co, we understand that selling a home is more than just a transaction—it’s a major life moment! That’s why our local property experts are here to guide you every step of the way. Whether you’re wrestling with whether to go for private treaty or just want someone to chat about the finer details of auctions, our team has  you covered. 

Get in touch with your local Harcourts Rata & Co agent today. Because when it comes to selling your home, it’s good to have someone who truly gets it by your side. 

Check out our other tips and insights: