HOW TO SELL A HOUSE QUICKLY AT A PREMIUM
August 2021 has had a huge surge in enquiries from home buyers quick to purchase and they are paying premium sale prices.
With family and lifestyle priorities changing course as a result of our second lockdown, New Zealanders are searching for properties to purchase now.
There four important steps below to help set you up for a fast house sale. They will also help you sell for an optimum sale price, but getting the basics right first is a must.
INDUSTRY LOCKDOWN RULES
Real estate companies should have established systems in place from 2020 industry lockdown rules enabling their property agents to provide remote appraisals, manage digital methods of sale and conduct price negotiations remotely and to your advantage.
These rules are designed to protect home buyers, sellers (and the wider community) but the standards between agents are varied.
Using a vetted real estate agent from a shortlist tailored to you and your property provides greater assurance about selecting the most suitably qualified and experienced agent to sell your property.
We've been vetting real estate agents for vendors for 11+ years. Find out more.
YOU'RE ENTITLED TO COMPETENCE
Selling a house at a prime sale price demands real estate agent competence, tenacity, integrity, attention to detail, dedication and a professional who does not take their eye off the ball at any stage for the duration of your property listing.
Add to this the industry rules related Covid-19, this is certainly not the time to 'give someone a go' at selling your house.
In a market with a record number of licensed real estate agents needing listings, do your due diligence when selecting a real estate agent.
- Real estate appraisals and estimates of property values provided by real estate agents when there is a shortage of properties for sale can often be misleading.
- Real estate commission is negotiable - it pays to understand what all the costs entail.
- Non-disclosure is one of the leading topics of formal complaints reported to the Real Estate Authority.
- Under lockdown, industry rules require additional compliance and unwavering due diligence of real estate agents.
Find out what to expect from a property appraisal first.
HOW TO SET YOURSELF UP FOR A FAST SALE
When all combined, the following four steps will help you create buyer competition and optimise your sale price.
1. Choose your real estate agent objectively - you're entitled to competence
Why agent tenacity and attention to detail matters
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. Not all agents can manage this effectively when the going gets tough - which it often does.
If conditions are not met within the timeframe, the sale can fall over.
Choosing a real estate agent objectively from a vetted shortlist who have met our stringent criteria will help you sell your house more quickly.
We know what to look for and what to avoid in an agent - and what resources you'll need to get your house sold fast.
Request a shortlist of vetted, competent real estate agents to compare objectively.
Your shortlist will also include industry resources that will properly inform you prior to signing anything. 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, especially during lock-down.
- 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 will 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.
2. Have property documents ready
A fast house sale means having important documents ready up-front to prevent time delays following buyer enquiries.
Doing so can prevent conditions being added to sale and purchase agreements which can slow sales down by weeks.
What 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 development 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 if needed.
3. Settle on your house sale price range
Real estate agents are required to enter a price range into websites so your property will show up to buyers searching within that range and location. This applies for all properties, even if you choose a no price method of sale such as tender, auction, negotation. The sale price range should be agreed between you and your agent prior to signing an agency agreement.
To get this right, a comparative market appraisal is conducted by your real estate agent which is 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 choosing your agent objectively is so important.
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.
Want to know what houses have been selling for in your area? Just ask - we'll email it to you.
4. Repairs + home staging will help sell quickly
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 regards 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 a 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 now.
Article updated August 27, 2021 | Trish Willis