WHEN IS THE BEST TIME TO SELL A HOUSE?

SELLERS BECOMING MORE CONFIDENT

By Trish Willis | Member of the Property Institute of NZ

The real estate market has got off to a flying start in 2024 with a very noticeable uptick in the number of property sellers going to market, showing trust in the market is returning and in many parts of New Zealand, prices are starting to recover on the same time last year.

It is even more important to ensure you go to market with a competent agent who will work hard on your behalf to get buyers through your property.


Find out how much commission you might need to pay first.


BEST TIME TO SELL IS ALL IN THE PLANNING

The best time to sell a house is when everything lines up for you - a prepared seller will do better than one who isn't.

Do you have trusted information at hand and a real estate agent you can rely on to appraise your property accurately, advise you with integrity and sell well in today's market? Or should you wait it out?

CHOOSE YOUR ESTATE AGENT CAREFULLY FOR BEST RESULTS

Your choice of real estate agent combined with numerous other decisions to make will have a direct impact on how well your property will sell. For example, some estate agents are good at advertising but not so good at sales with buyers, some excel at both plus some. (Refer below to why buyers need more help to purchase properties in today's market.)

In the current real estate climate, it is not unusual for real estate agents to be more pushy and pressure people to list with them, often with an appraisal valuation in hand at a price that might be too good to be true. Choose your agent wisely.

Planning to sell well ahead of time is advised to avoid overlooking the fine print and making decisions under pressure for time or lacking proper advice, which can end up very costly.

Vetted real estate agents proven competent are known for achieving optimum sale prices in shorter than average time frames.


Find out more about vetted real estate agents - a genuine free service New Zealand-wide.


BUYING & SELLING IN THE SAME MARKET EASES PRESSURE

If you are buying and selling in the same market, you have less cause for concern as you might sell for less than you might have a year ago but you can also expect to pay a bit less for your new property than it would have cost a year ago. While you might get a bit less for your property, you will also probably be paying less commission - so keep that in mind. 


Use this overview of how much it costs to sell a house in NZ.


WHO'S IN THE MARKET FOR BUYING PROPERTIES?

There are always buyers for the usual reasons such as getting onto the property ladder, downsizing, upsizing, upgrading, changing jobs to new locations, births, deaths, building new, wanting to invest, wanting a warmer home or being closer to family which has become more common in recent years.


HOW TO SELL FOR THE HIGHEST PRICE

Regardless of the property market, sale prices are dependent on things like the structure/layout of the property, presentation, land size, aspect and location to name a few. But ultimately, house sale prices are heavily reliant on the competency of the real estate agent, their appraisal accuracy and method of sale used. Here is a checklist to help you better scrutinise free real estate appraisals.

As long as a property is listed with a suitable property agency and the real estate agent is capable, experienced, trusted and proven competent, your chances of the price you want increases.

We find that properties listed with a real estate agency and agent that we have vetted are more likely to achieve the highest price possible. Notably, they also sell on average in 27 days. (The current national average is 38 days)

Real estate agents who have been proven competent through our vetting process are more likely to have worked in difficult markets and have the attributes and negotiation skills required to get you the best result. 


Find out more about independently vetted agents.


TIPS FOR SELLING A HOUSE IN 2024

If the time is right for your circumstances, any time of year can be a good time to sell, depending on:

Proactive, digital real estate marketing to find qualified buyers for your location, price range and property type is key, as is the method of sale - all things which impact on your sale price. 

Doing your due diligence and comparing real estate agents' competence has never been more important. 


BUYERS NEED MORE HELP TO BUY HOUSES

Home buyers need more help to meet bank lending affordability and Loan to Value Ratio rules. This requires help from their real estate agent to liaise with banks, mortgage brokers, insurance companies, property valuers, lawyers, councils, tradespeople, Trusts and families - often at speed.

You may have a property zoned for development in Auckland and would like to know how to sell to developers or you may have tenants that wish to remain as tenants if the buyer is investing in your property. 

On many occasions, home buyers need to sell their existing home, so your sale and purchase agreement may be conditional upon that. The scenarios are many and a real estate agent must have the capability to manage conditions, often within tight timeframes.

A high level of knowledge, tact, integrity, competence, experience and negotiation are a minimum so make sure your real estate agent has been vetted - it can be very reassuring and can achieve the result you need. 


You can request a list of vetted agents to objectively compare here - a genuine free service for New Zealanders since 2009.


ACCURATE HOUSE APPRAISAL PARAMOUNT

Window view of Johnsonville property that sold in 13 days

A real estate appraisal sets the foundation for a property sale and if it's poorly researched in the economic climate of the day, you will be on the back foot from day one, possibly without even being aware of it.

We are still hearing many stories of real estate agents providing unrealistic appraisals to entice sellers to list with them, and once they are in a contract, the price crunching starts, creating a disheartening experience rather than a satisfying one.

Successful property sales in this market depend entirely on the real estate agent's initiative, digital marketing, integrity, personal attributes, ability to manage various methods of sale and of greatest value, their negotiation skills. 

Our vetting process throughout the last 13 years has proven to achieve optimum sale prices, within shorter than average time frames, regardless of the time of year. Read some of our reviews.


If you need any advice get in touch now or call 0800 789 532 - we're here to help.


Agent Finder NZ Awards:

  • Best Independent Real Estate Advisors 2022 | BUILD 2022 Real Estate & Property Awards
  • Best Property Advice Hub New Zealand 2021 | APAC
  • Most Reputable Property Advice Hub New Zealand for Wise Up NZ 2020 | APAC
  • Best Real Estate Agent Vetting Service 2018 | APAC

Article updated January 14, 2024 by Trish Willis - Agent Finder NZ director | Member of the Property Institute of NZ (IPAC) & awarded Independent Property Advisor of the Year 2023.

Disclaimer: The content of this researched article is general in nature and not intended as a substitute for specific professional or legal advice on any matter and should not be relied on for that purpose
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