Updated November 19, 2022 - The national median (year on year) house price rose from $811k in September to $825k in October. Four regions saw price increases and days to sell reduced by two days in October, giving reassurance that now is still a good time to sell a house in many locations and situations.
Although year on year prices reduced in some regions (five regions decreased less than 5%), one should consider these in the context of the 'frenzied' high value increases of 20-30% for many regions in January 2022.
Regardless of when you sell, your choice of real estate agent is one of the major contributors to success
The method of sale you choose will also 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 not on the day, within a few days afterwards.
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 selling real estate agent to achieve the results vendors expect - again a key part of agent competence. Find out how to get a free real estate appraisal and what to look for.
View examples of what it costs to sell a property in New Zealand
Who is in the market to buy properties?
There are always buyers looking for properties including those wanting to move closer to family, upgrade their living standard, upsize or downsize, get on the property ladder, move 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.
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.
Longer settlement periods are now more common which helps everyone and gives buyers and sellers more time to find new properties and sell the old ones if they purchased first.
Find out more about the best time to sell a house
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 the 15,000+ selling agents and 906 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 business gained a national overview of. For example, 'non-disclosure' is still a subject of frequent complaints dealt with by the industry authority but in many cases goes unreported. This comes down to real estate agent integrity.
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.
Ask about free property appraisals or whether now is a good time to sell your type of property
Wise Up NZ Awarded Most Reputable Property Advice Hub NZ 2021
Page updated November 19, 2022 by Trish Willis | Member of Property Institute of NZ (IPAC)
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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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