The Cominos family has been part of the fabric of the Blacktown community for two generations. James Cominos made his name in the 50s developing commercial and industrial sites before establishing the independent real estate office Matheson & Cominos. His sons Terry and Brett joined the family business straight from school and worked alongside their father, helping to grow it into the most trusted and successful real estate agency in Blacktown.
R&W Blacktown has a distinct point of difference as a modern, full service real estate agency offering significant expertise in both residential and industrial / commercial property sales and leasing and development site sales.
The combined knowledge of both Terry and Brett, together with the depth of their relationships with members of the Blacktown community, has contributed to R&W Blacktown’s leading position. As a member of the Richardson & Wrench network, Australia’s most trusted and progressive real estate group, R&W Blacktown is committed to delivering outstanding results with integrity.
RECOMMENDED SALE STRATEGY
Method of Sale
As you know there are three main methods of marketing property we can apply:
- Sale by Private Treaty - Negotiated Price
- Sale by Auction
- Sale by Tender or Expression of Interest
1. Private Treaty - Marketing With a Price
Sale by Negotiated Price allows you to establish an asking price to which offers near that figure are usually received. Sale by Private Treaty does not put any time constraints on the market and may end up in long and drawn out negotiations.
2. Marketing without a Price - Auction
Auctions and Tenders both require buyers in the market, in a competitive environment, to make offers for a property based on their perception of its worth. This perception is influenced by the level of competition and the prospects desire to be the winning bidder. No indication of price is usually given by the Seller.
Auctions are an open marketing system where potential purchasers bid for the property in an open forum. Auctions work particularly well when the property’s value is unknown by all parties and there are numerous potential purchasers who desire to own the particular property, there by generating the highest bid.
3. Marketing without a Price - Tender or Expression of Interest
Conversely, Tenders are a closed marketing system. That is, competing parties are totally unaware of the level of competition, what their counterparts are tendering or the price you want for the property.
The difference between Auction and Tender is the way they generate offers from the market.
Advantages of the Tender method of selling are:
1. No disclosure of price. Tenders allow you to achieve the absolute maximum price that can be achieved at any point in time.
2. There is a greater sense of urgency generated with the buyers under the Tender method of sale, due to a specific closing date.
3. Sale by Tender allows the seller to secure an unconditional contract thereby locking in the buyer.
4. The Tender method sends a strong message to all buyers that the owner is serious about selling.