HOW TO SELL A HOUSE QUICKLY
February 28, 2023 - An awareness of how to avoid time delays is key to selling a house quickly in New Zealand. These four easy steps are proven to help speed up property sales largely due to the fact they satisfy buyers more quickly which in turn helps avoid the need for inserting conditions in a sale and purchase agreement.
You may be worried about house prices reducing or you may have purchased another property, accepted a job offer elsewhere or some other reason - whatever the case, streamlining your due diligence will help you sell successfully.
The method of sale you choose (and a quick home makeover if needed) will also help set the foundation for a achieving premium sale price and quickly, but there are lots of important tips to be aware of that are often overlooked.
Find out how much it costs to sell a house here first.
Step 1: CHOOSE YOUR REAL ESTATE AGENT OBJECTIVELY
Operating since 2009 and awarded 'Best Property Advice Hub in New Zealand', we have guided many vendors to sell houses, apartments, lifestyle blocks or investments, most often in half the average timeframe for the area.
This is largely due to quick access to relevant, accurate information for their property type and situation plus the stringent vetting of real estate agents.
Finding property agents with tenacity and attention to detail matters a lot - you're entitled to competence.
For example, once a sale and purchase agreement is signed, the period between that date and the unconditional date is often the most demanding part of the process for a real estate agent. If sale and purchase agreement conditions are not met within the timeframe, the sale can get delayed or fall over. Not all agents can manage the process effectively or efficiently when the going gets tough - which it often does.
In the current economic climate, helping buyers purchase properties is harder than in prior years often due to banks moving the goal posts.
The value of real estate agents with proven due diligence can not be underestimated.
Our stringent vetting is of a standard similar to that of a recruitment agency and it's all provided free to New Zealand property sellers. We have a national overview and the benefit of over 13 years' experience vetting real estate agents. We know what to look for and certainly what to avoid - and what resources you'll need to get your property sold fast.
Request a shortlist of vetted, competent real estate agents to compare objectively.
Everything you need, all in one centralised hub
You may be a seasoned vendor or a first time one. Whatever help you need, we can provide it to you. For example:
- What to expect and what to avoid in real estate appraisals and marketing plans.
- Methods of sale options which will differ in effectiveness for locations, price ranges and property types.
- How much it costs to sell a house which includes tips for negotiating real estate fees and commission.
- Questions To Ask A Real Estate Agent to establish their suitability for you and your property type.
- Quick links to government and non-government resources pertaining to property tax, legal advice, title documents, building inspections and property valuations.
- Real estate guides on signing agency agreements, sale and purchase contracts and approving your marketing plan.
Having these resources centralised all in one place helps you make fully informed decisions quickly and diligently.
We cannot stress highly enough that the real estate agent you choose to sell your house will determine how quickly you can sell, the price you obtain and your overall experience.
We can provide all of Step 1 so you can focus on steps 2-4 below. Ask for help or call 0800 789 532.
Step 2: HAVE PROPERTY DOCUMENTS READY
Selling a house quickly requires having important legal documents ready up-front to prevent time delays following buyer enquiries.
Delays give buyers more time to keep searching for more properties competing against yours so acting fast is critical.
Doing so can prevent the need for conditions and clauses being added to sale and purchase agreements which can slow property sales down by weeks.
What property documents to start collating if you can:
- All legal documents such as council property information, insurances, titles, easements, covenants, plans and maps.
- If you are selling a lifestyle block you may have water bores, survey plans, council district plans and shared entranceways.
- If selling an apartment, you will require minutes of meetings from bodies corporate or other management structures.
- Property valuations and building inspections up front can provide real estate agents with leverage when negotiating a sale price.
A property information pack with this type of information pre-empts buyer questions, satisfying their need for detail quickly when their interest is at its peak.
If you can't find everything you need, don't worry - we can direct you to the right sources.
Step 3: AGREE YOUR SALE PRICE RANGE
This applies for all properties, even if you choose a no price method of sale such as tender, auction, negotiation or buyer enquiry over (BEO).
The sale price range should be agreed between you and your real estate agent prior to signing an agency agreement.
To get this right, a comparative market appraisal is conducted by your real estate agent primarily based on recent historical sales for similar properties in your location and applied to current market conditions.
But most people know that many real estate agents will over-estimate a property's worth to gain your listing, then start reducing the price. This is why vendors often want to change real estate agents - highlighting why choosing an agent objectively at the outset is so important. If you know someone wanting to change real estate agents, this might help.
Incorrectly valued properties have been proven to delay the speed of property sales. Many won't sell, and conflict between a vendor and their real estate agent is inevitable.
Learn how to scrutinise a real estate appraisal
Step 4: REPAIRS & HOME STAGING HELP SELL FASTER
Home Staging combined with repairs and maintenance can help sell your house faster.
Having repairs and maintenance done prior to going live online can prevent the need for sale and purchase conditions and issues showing up in building inspections - these can create time delays or turn buyers off because another house was better.
With regard to home styling, real estate agents have consistently reported over the years that home staging a house with existing or hired furniture can add 10-15% onto an expected sale price.
Doing your own styling costs next to nothing and can make a significant impact on the quantity of online viewers - your potential buyers and how quickly your house might sell.
Many people tell us "I wish I'd found your service last time I sold a house", so make sure you get all the free help and advice you need from us.
To get started - request a shortlist of vetted real estate agents or ask a question
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 February 28, 2023 by Trish Willis | Member of Property Institute of NZ (IPAC)