Private treaty is how most property in WA is sold. The property is placed on the market for a price and sold via the buyer completing an "Offer and Acceptance" form.
The Offer and Acceptance can contain conditions set by the seller or the buyer but must be agreed to by all parties. Examples of conditions include finance, termite inspections and building inspection reports.
Private treaty is favoured by sellers mostly because it is the most well understood form of selling. Buyers generally know how to make an offer under this method and buyers also find that having an asking price is convenient and gives them confidence in making offers.
Marketing property under the private treaty method is customised to the individual residence. Digital media is prominent (websites, MMS) as is a "for sale" sign, brochures and home opens.