SELLING & MARKETING
When we are selling, it is hard to know who to listen to and what our needs really are.
Ask yourself:
1 - Why are you selling?
2 - What do you love the most about your house and its area?
3 - Do you have a time frame to respect for selling? Why?
4 - How much would you buy your own property for? How much do you think its worth?
5 - Does your property need some urgent renovations? Within the next 2 years? Or some quick repairs?
6 - Have you done any upgrades to your house since you have owned it, which could increase its value?
7 - What final results are you after?
8 - What options do you have if your property doesn't sell or not in the ideal time frame?
These will be the most important questions you can ask yourself before calling me or putting your house on the market. It is important to have a plan B and to know what results you truly want before expecting them.
Your most frequent questions:
- Why is the RV (Rateable Value) different than what you say my home is worth?
Rateable value is not the same as market value or appraised value. There are many homes that could be sold for significantly more than an assessed value and others that maybe sold for significantly less. The rateable value of a home is used for the purpose of taxes by your local council. The rateable value of a home is multiplied by the local tax rate to determine what your yearly taxes are.
Unfortunately, there are many home buyer’s who believe that a home that is listed higher than the rateable value is overpriced. This is the furthest from the truth. Home buyer’s also question if something is wrong with a home if the list price is much less than the rateable value. The bottom line is the rateable value has no impact on how much your home is worth. There are home owners who don’t pay attention to their rateable value, just to find out their council has been slowly raising it, year after year, even though the market value hasn’t been increasing.
- What is the difference between a list price and sale price?
The list price is the price a home is currently listed for sale at. The sale price is the price a home is sold at.
- How do you determine how much my home is worth?
There are a handful of methods that Real Estate Salespersons use to determine the value of a home. The most common method is by completing a comparative market analysis. A comparative market analysis is an in-depth evaluation of recently sold “comparable” homes in the past 3-6 months. A comparative market analysis, also known as a “CMA,” isn’t a crystal ball that determines what a home will sell for, however, if performed properly, it should greatly narrow the sale price range.
A professionally completed “CMA” will take into account many features of not only a home, but also the local area and neighborhood. Considerations that a professionally completed “CMA” include, but is not limited too:
- Area of the property
- Number of bedrooms
- Number of bathrooms
- Upgrades to kitchen and bathrooms
- Window quality
- Roof age
- Lot features
- Location; primary or neighborhood street?
- Style of residence
- Flooring type
- Can I determine how much my home is worth from an internet website?
Unfortunately not. Anyone who has bought a home, sold a home, or just looked at homes, has heard of websites such as Oneroof and TrademeProperties. These are also commonly referred to as third party real estate websites. Third party real estate websites are not local to every real estate market. They provide estimates of home values for practically any home in New Zealand using computer generated home values based on calculations and formulas.
These websites providing inaccurate estimates can create a false sense of hope and lead to frustration. A home seller who is told their home is worth $20,000 less than the online estimate is going to be understandably upset. It’s critical that when selling a home, the value is determined by a Real Estate salesperson in your local area, not an internet website.
- How much commission do you charge?
Commission is negotiable, period. Don’t let any Real Estate tell you otherwise. This being said, the saying “you get what you pay for,” often is true when it comes to real estate. If a Real Estate salesperson offers a lower commission, do you think they will negotiate aggressively on your behalf when it comes to the price? Also, if you were working for a reduced hourly wage from your “normal,” would you work as hard as you normally would? The answer is likely not. Choosing a Realtor based solely on the fact they offer the lowest commission amount is a top mistake made by home sellers when choosing a Real Estate to sell their home.
- What happens if I’m not happy and want to cancel the contract?
The hope when selling a home is a quick sale and top dollar. This isn’t always the case though. Every contract has different terms but generally speaking, if you decide to cancel the listing agreement, you could be responsible for any expenses incurred by the real estate agent.
- What steps should I take to prepare my home for sale?
Not properly preparing a home for sale can put a home owner at a huge disadvantage.
The expression “You never get a second chance to make a first impression” is absolutely true when it comes to selling a home. When selling a home you must be sure that your home presents itself in the best possible light. Making sure clutter is at a minimum, freshly painting rooms, installing a new carpet, or ensuring odors are non-existent are just a handful of things that should be done before listing your home for sale.
- How do you plan on marketing my home?
A comprehensive marketing plan is something that you should expect from your Real Estate Salesperson when selling a home. The days of placing a sign in front of a property and waiting for someone to sell it are over. With the evolution and the impact the internet has had on the real estate industry, it’s critical that not only is your home marketed through “traditional” avenues, such as newspapers and mailings, but it must also get maximum exposure online. Over 90% of buyer’s are beginning their home search online!
- Why isn’t anyone looking at my home?
This can be a fairly complex answer. However in most cases, the reason your home is not being looked at by potential buyer’s is due to the price. Buyer’s who feel a home is priced to high will choose to look at other homes before yours, likely finding one before they reach yours. Other possible reasons your home is not being looked at could include a poor curb appeal, a poor location, poor quality pictures or lackluster marketing efforts from your Salesperson.
Want to know a little bit more about our most common methods to sell? Give me a call or just have a read to one of my Pdf documents below:
Sale and Purchase Agreement Guide
Harcourts Property Selling Guide
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MY MARKETING STRATEGY:
Truth is I cannot do any marketing without your help.
Because I need to access your property to begin the process and I want your ideas and point of view.
I will of course give you my guidelines following my experience with the best method I believe on marketing your home, but I want it to fit your home, your needs and your budget.
How I am marketing your home in a rural, commercial or residential area will change so as during the Pandemic or the type of property.
Giving the same advertising to everyone is expecting the same buyer to buy any property.
Here is a little booklet which will give you some ideas on marketing prices :
