When browsing real estate listings, you’ve probably come across the phrase “Expression of Interest” (EOI) and wondered what it actually means.
While auctions and private sales are familiar to most buyers and sellers, Expression of Interest campaigns are often misunderstood. Yet, when used correctly, they can be one of the most effective methods of sale for certain properties.
At Lewin Real Estate, we believe the best sales method depends on the property, the market, and the type of buyers you’re trying to attract. So, let’s take a closer look at what an Expression of Interest campaign is, when it works best, and whether it’s the right choice for your property.
What Is an Expression of Interest (EOI)?
An Expression of Interest campaign is a sales process where buyers are invited to submit their best offer by a specified closing date. Unlike an auction, buyers don’t publicly compete against one another. Instead, offers are submitted privately and presented to the vendor for consideration.
Think of it as a “silent auction” where buyers have time to complete their due diligence, review contracts, arrange finance, and submit their strongest offer before the deadline.
The vendor can then:
- Accept an offer
- Negotiate with one or multiple buyers
- Request best and final offers
- Decline all offers if expectations are not met
How Is It Different From an Auction?
The biggest difference is transparency.
At an auction, buyers can see competing bids in real time and respond accordingly. Auctions create urgency and public competition.
With an EOI campaign:
- Buyers submit offers privately.
- There is no public bidding.
- Buyers often have more time to conduct due diligence.
- Vendors have greater flexibility during negotiations.
In many ways, an EOI campaign sits somewhere between a private sale and an auction.
When Does an EOI Campaign Work Best?
At Lewin Real Estate, we’ve found EOI campaigns can be particularly effective for:
Unique Properties
Properties that are difficult to price accurately often benefit from an EOI campaign.
This may include:
- Development sites
- Luxury homes
- Acreage properties
- Commercial properties
- Rare landholdings
When there are few comparable sales available, allowing the market to determine value can often produce stronger outcomes.
Development Opportunities
Properties such as development sites frequently attract builders, developers, and investors who all value the property differently.
A recent example is 78 Northcliff Road, Edithvale, where the development potential of the site created broad buyer interest and multiple potential uses.
High-Demand Markets
When buyer demand is strong but difficult to quantify, an EOI campaign can encourage buyers to put forward their strongest offer from the outset rather than waiting for negotiations.
When Might an Auction Be Better?
Auctions remain one of the strongest methods of sale when a property appeals to a broad buyer pool.
Family homes, renovated properties, and highly sought-after homes often perform exceptionally well at auction because competition becomes visible.
Recent Lewin Real Estate examples include:
- 22 Avenza Street, Mentone
- 19 Harpley Street, Cheltenham
- 8 Ivan Avenue, Edithvale
These properties generated strong buyer engagement throughout their campaigns because they offered the combination buyers are actively seeking in today’s market: location, presentation, and lifestyle appeal.
You can view more recent success stories here:
How Does Lewin Real Estate Approach EOI Campaigns?
The reality is that the sales method is only one piece of the puzzle.
Whether we’re running an auction, private sale, off-market campaign, or Expression of Interest campaign, our focus remains the same:
Buyer Engagement
We don’t simply wait for offers to arrive.
Our team actively engages with buyers throughout the campaign to:
- Understand their level of interest
- Answer contract questions
- Discuss property features
- Identify genuine purchasers
Database Marketing
With thousands of active buyers across Bayside and Kingston, we can often identify potential purchasers before a property even reaches the market.
Strategic Negotiation
One of the biggest advantages of an EOI campaign is the ability to negotiate with multiple buyers simultaneously.
Our role is to ensure every buyer understands the value of the property while creating competitive tension throughout the process.
Should You Use an Expression of Interest Campaign?
The answer depends on your property.
- An EOI campaign may suit:
- Unique homes
- Development sites
- Commercial properties
- Premium properties
- Sellers seeking flexibility
An auction may suit:
- Family homes
- Renovated homes
- Properties with broad appeal
- Markets with strong buyer competition
A private sale may suit:
- Sellers seeking price certainty
- Buyers wanting finance or building conditions
- Properties in more balanced market conditions
For information about Victorian property sale methods, visit:
Final Thoughts
Expression of Interest campaigns are not necessarily better than auctions or private sales — they’re simply another tool available to sellers.
The most important decision isn’t choosing a sales method. It’s choosing an agent who understands your property, your buyers, and your local market.
At Lewin Real Estate, we tailor every campaign to the individual property rather than relying on a one-size-fits-all approach.
If you’re considering selling and would like advice on whether an auction, private sale, off-market campaign, or Expression of Interest strategy is best suited to your property, we’d be happy to provide an obligation-free appraisal.
Lewin Real Estate
Local Knowledge. Personalised Service. Exceptional Results.