Important Questions to Ask When Selling Your Property

When the time comes to sell a family home, most homeowners will have a multitude of questions running through their heads as to the best process to follow and above all, the best agency and individual salesperson to employ; after all, selling a home is not an everyday occurrence for most people. Most home seller’s expectations are quite simple and logical. They want a seamless transaction that complies with all legal requirements, a stress-free exposure to the market and a sale that produces the highest possible price in the shortest possible time.

As a potential home seller, we have listed below some of the questions you may have when considering a sale and selecting an agency to represent you in the marketplace:

How do I select a company to represent me?

Reputation and sales success are paramount. Has your chosen company a successful track record? Do they have a strong profile and are they able to provide details of previous successful sales in your specific location? Tommy’s ticks these boxes and, for the last two years, has also been recognised by the Real Estate Institute of NZ as leaders in the field at the national real estate awards. What better recommendation?

How do I select an agent from within a specific company? 

Ask for evidence of their sales successes and a great idea is to attend an open home viewing and gauge first-hand the competence and professionalism of that agent. Perusal of the public register on the website of the Real Estate Authority (REA) will reveal any complaints against the agent in the previous 2 years.

How do I assess the market value and the positioning of my property within the pricing spectrum?

Tommy’s will provide you with comparative data from properties that have sold recently which is the best possible guide. Don’t be influenced by friends or associates who have the best of intentions but often have very little realistic data to support their opinions of value. Check out the mood of the market on independent websites such as Quotable Value NZ.

Should we ask a “bit more” than we really think the property is worth?        

There is an inherent danger in doing this as you will attract the wrong buyers and we often see examples of sales being concluded below true market value after an overpriced property has languished on the market for a long period of time. Use a method of sale such as Sale by Tender that usually gives a price guide but leaves scope for that special buyer who will pay a premium price in a competitive market.

How do we assess what is a fair cost for real estate fees and marketing costs?

Most agencies are competitive so we recommend that you place greater emphasis on agent ability and compatibility than on costs. A good agent will compensate for any cost excesses with superior market exposure and with the sale results. Marketing costs will be determined by a combination of location, price expectations and multi-media coverage. Internet exposure is important and is cost effective. Marketing costs should be looked at as being an investment in your home and a positive step towards a successful sale.

How important is having a signboard and open home inspections? 

In our opinion, both are an integral part of the sales process. We refer to a signboard as being a silent salesperson in that it works for the agent and the home seller 24/7 and is often the catalyst that promotes buyer enquiry. Similarly, love them or hate them, open home inspections attract serious buyers who prefer the anonymity of inspecting a property without declaring their interest until they view a property that ticks the boxes for them.

What preparatory work should I do to my property before going to the market? 

First appearances do count so any cosmetic work that enhances that first impression is worthwhile. Items of major expense should be seriously considered, as that outlay may not reflect in an increased sale price.

Do I need any supporting documentation before going to the market?

A title search is a must and a Land Information Memorandum (LIM) will reveal any outstanding building permit or Code of Compliance issues. Depending on the condition of the property, a builder’s report may be useful.

In summary, every property is different and Tommy’s will gladly provide a considered opinion on all of the foregoing topics as they pertain to your property. If you are in the market to sell, we welcome your obligation free call for marketing advice.