Episode 40: Adam Docking - Auction vs Private Sale vs Expressions of Interest

With Covid-19 creating new avenues in how Melbourne sells property, you are sure to have seen a variety of new versions of different types of selling methods over the past 6 months. Today, we talk to Senior Vice President of the REIV, Adam Docking to find out which is the best method of sale for you and your property.

Having started in real estate in 1991, Adam is about to tick over 30 years in the industry. Adam is the director of his own independent family owned business, Docking Real Estate in the eastern suburb, Vermont. A fellow of the Real Estate Institute of Australia, Adam is the current Senior Vice President of the REIV, Chair of the Auction Chapter and an accredited REIV Auctioneer.

Since you were on Real Estate Right earlier this year, obviously a lot has changed in the global economic climate, how have you found the real estate industry?

1. Getting into the questions, what are the differences between auctions, private sales and expressions of interest?

2. What are the different sales strategies that make vendors or agents choose or favour one over the other?

3. Do some work better in different suburbs than others?

4. Which system is more transparent?

5. What happens if you don't sell or have an offer by the auction or expression of interest deadline?

     a). Define what a 'reserve' is, and what I should consider when setting it?

6. Are there any differences between the commission structures when choosing auction over private sale or expression of interest?

7. What marketing is 'essential' when contemplating an auction?

     a). Is it different for private sale or expressions of interest?

8. Are there any other forms of sale that can be used?

9. Do you think online auctions and expressions of interest will start to be used more often, now we know they worked so well during this covid-19 year?

 

If you would like to contact Adam Docking to sell your home, call 8877 7022 or go to:

www.mjdocking.com.au