So you’re thinking of selling your home… which sale method would be better for you? In this article, we will weigh up the things you need to consider, and the differences between an auction and tender campaign.

1. Price expectations: If you have a clear idea of the price you want to achieve, a tender may be the better option, as it allows you to set a reserve price. In contrast, an auction is an open process, and the final sale price is determined by the highest bidder.

2. Market conditions: Auctions tend to work best in a strong seller's market, where there is high demand and low supply, as this can drive up prices through competitive bidding. On the other hand, tenders can work well in a slower market or where there may be fewer interested buyers.

3. Type of property: Tender can be a more suitable method of sale for properties with specific complexities, such as those with weathertightness issues. This is because tender allows the seller to set conditions for the sale, which may include requirements for the buyer to address any issues before completion. Tender can also be beneficial in transactions involving multiple sites, as it allows the seller to consider each offer separately and choose the most favourable option.

Both auctions and tenders require a strong marketing strategy to attract potential buyers and at Bayleys, we have specialised marketing packages to attract the widest reach and traction across both digital and print media. Ultimately, the decision to sell your home through auction and tender does depend on your individual circumstances and goals as a seller.

It’s always a good idea to get in touch with me for a confidential appraisal and to strategise on the best approach for your situation. We’d love to obtain a premium outcome for you.

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