WHEN IS THE BEST TIME TO SELL A HOUSE?
By Trish Willis | Member of Property Institute of NZ (IPAC)
Changes are afoot with interest rates lowering and more buyers coming to the market. Added to the changes already made to capital gains tax that benefit investors, there is a sense of positivity in the market backed by recent industry statistics.
Are there buyers out there?
During October 2024 the number of properties sold rose by 20% on October 2023. Besides the current return to optimism around real estate, there are always buyers whose circumstances are changing, for example, moving closer to family, upgrading their living standard, upsizing or downsizing, getting on the property ladder, moving school zones, selling to build new. There are births and deaths, changing locations for new jobs, or wanting a warmer home - the list is endless.
However, New Zealander vendors could greatly improve the way they choose real estate agents to sell their biggest assets, especially in today's economic climate.
Find out about vetted real estate agents - an important and completely free service for New Zealand property sellers.
If you would like a shortlist of independently vetted real estate agents to compare, Send a request here.
Sharpen your pencil when choosing a real estate agent
Selling well at any time of year depends on your property type, the preparation you do, value, location, method of sale and most importantly, who you choose to list with. Regardless of when you sell, your choice of real estate agent is one of the major contributors to success because people buy properties every month, every year.
If your property is in Auckland find out more about selling a property now zoned for development.
If your property is in Christchurch, Wellington or any other New Zealand location, you might want a list of recent sales in your area, need help finding a suitable real estate agent or just want to obtain a property appraisal to see how much you could expect if you sold your house.
If you need some information or direction on where to start, send us a message - we can guide you with this.
Find out more about the best time to sell a house
Factors affecting sale success any time of year
The method of sale you choose will play a vital role in your sale price and timeframe. For example, auctions are fewer in numbers and 'negotiation' or 'buyer enquiry over' seem to be more favoured these days. However, some real estate agencies are auctioning properties successfully and if the sale doesn't happen on the day, often it goes through in the following few days.
Strong real estate negotiations with buyers are undoubtedly important and why a competent real estate agent plays a financially pivotal role for home sellers. Choosing a competent real estate agent has never been more important.
Meanwhile, with tighter restrictions for borrowers, home buyers require more input from the vendor's real estate agent to achieve the results vendors expect - again a key part of agent competence.
How to pay the lowest real estate commission in NZ
Compare real estate agents
Whatever time of year you decide to sell any type of property, an optimal result will depend wholly on your choice of real estate agent. It pays to compare vetted real estate companies and agents prior to making this all important decision.
Why compare real estate agents
Home buyers need more help to meet bank lending affordability and LVR rules and competent real estate agents can assist and liaise with banks, mortgage brokers, insurance companies, property valuers, lawyers, councils, building inspectors, accountants, Trusts and families.
Many Kiwis preparing to sell their properties often underestimate the competencies required of a real estate agent in today's property market and it can be confusing who to choose. Many choose the real estate agent they purchased with but this can end up in regret and having to switch property agents.
Real estate agent competencies vary greatly so it's important to get this decision right.
Request a shortlist of vetted real estate agents tailored to your property.
Compare real estate companies
The real estate industry is regulated under the Real Estate Agents Act 2008 to protect both buyers and sellers and real estate agencies must therefore have standards, policies and procedures in place to ensure compliance is systemised for around 14,000 selling agents and 864 real estate companies in New Zealand.
Some real estate companies are better than or more committed to compliance than others and this is something we have through our years in the industry gained a national overview of. For example, 'non-disclosure' is still a subject of frequent complaints dealt with by the Real Estate Authority but in many cases goes unreported.
Although a real estate agency may have its own rules, ultimately it comes down to the real estate agent conducting the sale on your behalf. Choose wisely.
Learn more about how long it takes to sell a house and questions to ask real estate agents
Wise Up NZ Awarded Most Reputable Property Advice Hub NZ 2021
Page updated November 1, 2024 by Trish Willis | Member of Property Institute of NZ(IPAC) & Awarded Independent Property Advisor of the Year 2023 (PINZ)
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Disclaimer: The content of this article is general in nature and not intended as a substitute for specific professional advice on any matter and should not be relied upon for that purpose.
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