Selling your property
Should I sell my property by auction or private treaty?
The right method depends on your property and your priorities. Private treaty suits most family homes, while auction can offer speed and certainty for the right property.
The short answer
Private treaty is most common, but auction can provide speed and certainty
Private treaty — the most common method — means the agent sets an asking price and takes offers, with nothing binding until contracts are signed.
Auction means buyers bid publicly on a set date and the sale is binding on the fall of the hammer, giving speed and certainty.
The two methods
How do auction and private treaty differ?
Private treaty
Private treaty is the most common method. The agent sets an asking price and takes offers, with nothing binding until contracts are signed.
Often suits: most family homes
Auction
Auction means buyers bid publicly on a set date. The sale is binding on the fall of the hammer, giving speed and certainty.
Often suits: farmland, unique properties and strong demand