Most Australian homes sell either by auction or by private treaty (sometimes called private sale). Each method changes the timing, the negotiation and the conditions you can attach to an offer, so it helps to know what to expect before you start.
Understand how the price is set
At auction, an advertised guide and a confidential reserve price set the framework, and the highest bidder above reserve wins. In a private sale, the asking price is usually a point of negotiation. Ask the agent whether the guide is a realistic range or a marketing figure.
Prepare before auction day
Auction contracts are typically unconditional: once the hammer falls, you are bound, with no cooling-off period. Arrange pre-approval, a building and pest inspection and contract review before the day, and be clear on your maximum bid.
Know what happens if it passes in
If bidding does not reach the reserve, the property may pass in and the highest bidder often gets first chance to negotiate. Be ready to walk away if the price exceeds your limit, and use the negotiation calmly.