BestBID


Click here to download the BestBID Booklet
WHAT IS BestBID?

BestBID is a unique real estate marketing system, designed and exclusively used by Jones Ballard Property Group.

Combining the best elements of traditional Private Treaty (For Sale) selling with the more ‘campaign based’ marketing structure of Auction-style advertising by creating a time frame and closing date for the sale, BestBID brings together more buyers during a defined marketing period, providing the seller with the comfort in knowing that the majority of potential buyers will have had sufficient time to view the home during the marketing period and giving the buyers confidence in knowing that the property is to be genuinely sold, rather than just ‘testing the market’ at an inflated price.

With a combination of mid-week and weekend Home Opens, BestBID sales often have up to eight Home Opens during a 21 period – a similar number of views as could normally be expected during a two to three month ‘For Sale’ period. This significantly minimizes the stress to the seller in terms of keeping the home ‘inspection ready’ as it is generally required to be presented at a high standard for a much shorter period of time.

Our current average selling time for BestBID sales is under 21 days, while the Perth average time to sell is in excess of 70 days, according to figures provided by REIWA.

What are the key benefits of BestBID to sellers?

- Increases the chances of a sale in a defined time frame, usually in less than 21 days
- Creates a genuine sense of urgency for buyers to act quickly in making an offer, rather than sitting back and ‘waiting to see what happens over the next couple of months’
- Provides three opportunities to sell the home – 1. During the marketing period before the closing date; 2. At the closing date; 3. during marketing period following the closing date
- Involves an aggressive marketing campaign over a short period of time, maximizing exposure and increasing competition for the home
- Eliminates ‘bargain hunters’ looking to ‘steal’ a home at far below market value
- All potential buyers who are looking at or above the buyer guide are attracted to the property – our research shows that most buyers end up spending 5% to 15% more than their initial intended budget that they set when they first start looking
- Allows the seller to make an informed decision when considering offers, with confidence that the property has been exposed to all potential buyers
- Allows the seller to be selective when accepting conditions of sale on Offer and Acceptance contract
- The seller always reserves the right to accept an offer before the closing date, if an attractive ‘early’ offer is made to them

What are the key benefits of BestBID to buyers?

- Gives a clear indication of a realistic sales range rather than an inflated price, as is so often the case with a normal Private Treaty (For Sale) type of sale
- Creates an ‘even playing field’ where every buyer is given the same opportunity to put forward an offer under their own terms
- Is a private and confidential selling method, as opposed to Auction, which is conducted in a public environment
- Allows the buyer to determine their own opinion of value, based on sales of comparable homes, the details of which are provided to them by the agent as part of the BestBID information kit for the property
- Allows buyers to add special conditions to their offer, such as building and termite inspections, finance conditions, etc (as opposed to Auction, which must be an unconditional contract with strict settlement and deposit terms)
- The Buyer does not miss out on a home that they would love to buy simply because it was so over-priced in the first place that they did not get the opportunity to view it
- Does not place the buyer ‘on the spot’ to make a rush buying decision, as is often the case at Auction

As an innovative and forward-thinking real estate firm, Jones Ballard are pioneers of alternative selling methods that are tailored to suit individual properties in an ever-changing real estate market. For more information regarding the BestBID sale method, please contact one of our friendly sales team today on 08 9474 1533.