Monthly Archives

December 2018

Where Should my Property be Advertised?

Where Should my Property be Advertised?

Q: I’m about to list my property for sale and I’m concerned about getting it marketed properly so that my home sells for the best price.  What should I be looking out for? Bruce F.

A: It is really refreshing to hear someone asking about how best to market their property. In our opinion, a comprehensive marketing campaign is the first, and possibly the most important, step in getting a premium price. There are three main areas to cover: Online (realestate.co.nz,TradeMe, etc.), print Property Press, NZ Herald, Epoch Times, etc.) and social media (FaceBook).

Advertising online will certainly get you in front of buyers, but these buyers are actively searching for a property and you need to have ‘passive’ buyers too. And passive buyers come from print advertising (like Herald Homes). By the way, make sure your agent uses a professional photographer to take the photographs of your property and make sure he has someone complete a floor plan. This is all about making sure you get as many people to view your home as possible – amateur photos will not do the job.

Check the copy for print advertising. Your agent should run this by you prior to having it submitted to the magazine or newspaper. People make mistakes, so check spelling and grammar carefully. Do the same with advertisements as soon as they appear online.

Facebook: Your property needs to be marketed on Facebook. Not many agents know how to market on social media, so make sure your agent has a plan, and check them out on Facebook to see how many followers and interactions they get. Again, you do not need to be on Facebook to get your home sold, but if you want to maximize your exposure to produce more bids on your home, you cannot afford to miss out on this great exposure. If your home is not actively featured on a highly trafficked Facebook Page, tell your agent to make it happen right away.

Don’t be fooled by a low-price marketing budget – make sure all your bases are covered so that you reach as many potential buyers as possible.

We wish you a Merry Christmas and a very Happy New Year.

Don’t just use the cheapest agent to sell your property!

Don’t just use the cheapest agent to sell your property!

 Q: Hi, we are looking to sell soon and are interested in your thoughts on how to choose an agent. Commission rates vary quite a bit, but we are wary of choosing the cheapest.

 Ronald and Jane L.

 A: Selling a property is usually a stressful time, and knowing who to sell it with can make all the difference.

The process of deciding on an agent begins with doing some research. Many people feel they need a local agent: Today it’s far less about which agent knows more about the area and recent sales because all of this information is available online. What is far more important is that the agent has the key skills (sales, negotiation, marketing, and technology) and a good success rate (i.e. lots of successful sales) backed up by client testimonials.

For your part, it’s also a good idea to research homes for sale in your neighborhood – and how much they are selling for. It’s even better to attend a few open homes, and auctions, as this will allow you to see how well the different agents conduct themselves.

Then you should get up to three different agents to appraise your property.

Agents appraising your home will use comparable sales to provide you with an estimated selling price for your home in the current market. Don’t allow yourself to be swayed by a flattering price. This is a common tactic to get the listing, followed by plenty of communication re how the market is not seeing the price at that level.

An appraisal also provides an opportunity for you to ask agents what services they provide, the strategy behind their marketing and advertising campaign and what their commission fees are.

When looking into commission fees don’t let commission make up the bulk of your decision making, as while you may want to find an agent who asks for the cheapest rate, the cheapest agent may not necessarily be the best agent.

As mentioned above: Focus on the agent’s skills and on their success rate.

A skilled agent can negotiate the final sale with one or more interested buyers, achieving the best possible outcome for what is possibly your most valuable asset.

Trying to sell your house ‘on the cheap’ is very likely to cost you significantly in the long run.

Choosing your agent: 4 things to watch out for?

Choosing your agent: 4 things to watch out for?

Buying and selling homes is one of the most stressful and complicated things that a person can go through; which means that choosing the right real estate agent is essential. The right real estate agent can move your house more quickly and even more importantly, get you a better price. Here are some red flags and signs that you may need to ditch the current agent you have and find one cut from a better cloth.

  1. Lack of Confidence

When looking to hire an agent, you should have a predetermined list of interview questions in hand. You will want to know for certain that the individual you hire is a top performer with a proven track record that can guarantee you will get what you want from the selling process. If they start looking nervous or uncertain of how to answer any of the questions you have, you should be suspicious of their credibility.

  1. Negotiation Skills

A good way to test an agent’s ability to negotiate is to demand a lower commission rate from them right off the bat. If they give in without too much of a fight, there is a pretty solid chance that they will do the same when negotiating prices with potential buyers. You want someone fiercely committed to getting you the best price, after all, it is you who is paying them.

  1. Poor Communication Skills

Don’t forget that, your real estate agent is working for you. It means that they have an obligation to keep you in the loop throughout the selling process. Does that mean that they have to tell you about each tedious and monotonous step? No, but it does mean that you should be kept in frequent contact as to any progress made. A clear lack of communication between you and your agent is indicative of inexperience, incompetence, or even worse, a lack of care. Should you be alerted to the feedback provided from attendees of your most recent open house? Absolutely! Any agent worth their salt will know what you need to know during the process.

  1. Failure to Utilise Technology

The technological era offers several resources that can be utilised to your benefit. If an agent lacks social media presence, consider it a glaring red flag. An experienced agent will not only have a strong social media presence but will know how to use it to your advantage.