INTERNATIONAL PROPERTY AGENTS FIND OVERSEAS BUYERS
By Trish Willis | Member of the Property Institute of NZ (IPAC)
Buyers living internationally have access to New Zealand properties for sale via the internet, but these well-funded buyers could slip through your hands if you do not use a properly qualified international property agent.
There are real estate companies that target the international buyer market in Europe, the UK, USA and Asia.
Even after Overseas Investment Office rule changes limiting who can buy property in New Zealand, Singaporeans and Australians are still eligible and there is also the expat market.
International buyers are most often wooed for properties in the higher priced and luxury property market where the New Zealand buyer pool is limited.
If you have an Auckland home rezoned for development under the Auckland Unitary Plan you could consider using a real estate agent that can reach buyers who might put in a much higher offer due to the land's development potential. Overseas buyers may be able to purchase but only after applying through the Overseas Investment Office process. This is a specialist area.
Find out what skills you should expect from an international estate agent in NZ.
Choosing An International Property Agent
If you have a property that you believe needs marketing to international buyers, choosing the right real estate company and agent is crucial.
It's often a high pressure process and with quick decision making needed, so you need confidence in your real estate agent.
Do your due diligence because there are many balls to juggle all at the same time and often under pressure, in a short time frame.
Even when the legalities of an international property sale are conducted by buyers' and sellers' lawyers in both countries, international property agents need experience and a particular set of skills to successfully conduct international sales. They need a high level of real estate expertise with skills that include:
- Long distance negotiation of the sale price and conditions.
- Being able to answer questions about NZ immigration, taxation and banking policies.
- Knowledge of documentation required for such purchases, witnessing and transmission of legal documents.
- A high level of tact, communication and confidence when negotiating with high value buyers and their lawyers.
- Commitment to best practice real estate guidelines including the industry's Code of Conduct covering things such as adequate disclosure of property information.
- A strength in the interpretation of Land Information Memorandums (LIM) and Property Information Memorandums (PIM) or other legal documents.
- A high level of knowledge and attention to sale and purchase contract details, dates, amounts, clauses and signatures of all owners.
- Up to date knowledge about transferring money internationally and exchange rates.
- Knowledge of international advertising platforms and specialist e-magazines that are seen globally.
Successful international property agents have exceptional project management skills and not all agents have these.
What are vetted international property agents?
Stage Your Home to Appeal to International Buyers
If your property is empty of furniture, you may want to consider home staging it.
The best-case scenario from home staging is gaining a premium price within a short time frame. Real estate agents often say that home staging can add 10-15 per cent onto an expected sale price due to the higher volume of interest the presentation attracts.
An international real estate agent can coordinate staging for you.
Use this overview of how much it costs to sell a house in New Zealand.
Need A Property Lawyer for Advice?
We recommend you engage a property lawyer or conveyancer.
Do not underestimate the level of skill required for international real estate property marketing.
Lift your expectations of service and set about finding excellence.
Request a list of vetted international property agents.
Wise Up NZ Awarded Most Reputable Property Advice Hub NZ 2021
Page updated April 17, 2023 by Trish Willis | Member of Property Institute of NZ (IPAC)
You might also like:
- International real estate agents for selling in Auckland
- International real estate agents for selling in Wellington
- International real estate agents for selling in Christchurch
- International real estate agents for selling in Central Otago
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