CHOOSING A LIFESTYLE AGENCY
By Trish Willis | Member of Property Institute of NZ (IPAC)
Revealing data about lifestyle property sales
Since 2009, we have been monitoring what makes some property types more difficult to sell than others. Lifestyle blocks are always in the results.
Our data identified a number of risk indicators that help to predict which properties will most likely be difficult to sell, and which ones should sell for an optimum price, within a good time frame.
If a lifestyle property meets more than one of the risk indicators, this can make the viability of a sale, even when re-marketed with a competent agent second time around, a waste of investment in time and money.
If you would like free advice selling your lifestyle property get in touch or call 0800 789 532
What makes lifestyle blocks hard to sell
Some properties have shown themselves to be harder to sell for reasons including:
- Rural or lifestyle properties on the market a second time around
- The real estate agent had insufficient knowledge and experience in lifestyle property marketing
- Vendor price expectations unrealistic
- Poor property presentation
- Unconsented buildings
- Use of amateur photography
- Issues with legal documentation or interpretation there of (see examples below)
- Structural or layout issues
- Lifestyle blocks in rural areas
With regards to lifestyle agencies, the hardest part of selling a lifestyle block is their agents' professional due diligence to complete the sale after the sale and purchase agreement has been signed. There is a great deal of administration and taking their eye off the ball can be very costly.
It pays to know more about what real estate agents are required to do - it is your responsibility keep your eye on them.
Choosing an appropriate lifestyle agency
There is information specific to lifestyle blocks that you should check before signing an agency agreement, and rather than choose the first agent that comes along, you should ask them questions and find out how qualified they are to sell a lifestyle property.
You can get more information about lifestyle real estate agents from a lifestyle real estate agent broker that offers a free service to sellers.
Expectations of lifestyle real estate agents
Selling a lifestyle property is a specialist area and we recommend only engaging a real estate agent who has the relevant background experience in lifestyle property sales. There are many quirks with these types of properties and it helps to have an agent with knowledge of how to deal with them. Issues can include:
- The condition of the ground and outbuildings
- Septic tanks
- District Plan policies including new developments such as sub-divisions
- Zoning - rural and lifestyle
- Easements with neighbouring properties
- Boundaries, surveying and related reports
- Covenants on the land
- Issues with neighbours
- Taxation
- Titles, Plans, Cadastral Maps, LIMs, PIMs and more
Whether you are selling an average value lifestyle block or a luxury one, you should expect the best service available. Selling lifestyle properties is a specialist field of real estate work.
You should expect a real estate agent to be fully competent and have substantial experience, who can answer any enquiries from buyers with integrity. A real estate agent who primarily specialises in residential properties is less likely to have the skills you need.
Free Help is available
We have advised many New Zealand owners of lifestyle blocks for over a decade by helping them:
- Wise up about the whole real estate process step by step
- Front foot the sale by providing trusted resources from other agencies
- Know what to look for and expect of real estate agents, specific to lifestyle properties
- Position themselves to achieve the best price outcomes in good timeframes
Find out more about selling a lifestyle block
Choosing a competent lifestyle real estate agent experienced in your type of property is imperative and ultimately determines the fate of your sale, good or otherwise.
Do you need help or advice about selling your lifestyle property? Get in touch.
Wise Up NZ Awarded Most Reputable Property Advice Hub NZ 2021
Page updated February 10, 2024 by Trish Willis | Member of Property Institute of NZ (IPAC) & Awarded Independent Property Advisor of the Year 2023 (PINZ)
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