Auction vs private treaty in Queensland — which suits your home?
By Graham Lynham · Published
Choosing how to sell is one of the first decisions you’ll make with your agent. In Townsville, most homes sell by private treaty, but auctions and expressions of interest have their place.
Private treaty
Your home is listed with an asking price, or “contact agent”, and buyers make offers. You can accept, reject or counter. If an “offers over” price is used, it should be the minimum you’re willing to accept.
Suits: most family homes in established suburbs where recent comparable sales make the value clear.
Auction
Buyers bid publicly on a set date. If bidding passes your reserve, the highest bidder buys the property unconditionally on the day.
In Queensland, agents are not allowed to tell buyers a price they think is likely to be bid, so auction listings don’t show a price guide. You’ll see a standard statement on those listings explaining why.
Suits: unique or high-demand properties where competition could push the price up.
Expressions of interest
Buyers submit their best offer, with their conditions, by a set closing date. You then choose the offer that suits you best.
Suits: prestige or hard-to-price properties.
How to choose
Talk it through with your agent, and ask for the evidence: recent sales, days on market and how buyers are behaving in your suburb right now. If you ask what your home is likely to sell for, your agent has to give you a comparative market analysis along with that price.