Today I am here to discuss a very common question that’s in every sellers mind: “Will an Auction or Deadline Sale work best for my property?”
There are some homes that are more suited for auctions and others we recommend a deadline for, as there is never one kind of method that will suit every home. Let me explain....
Properties that are more suited for auctions are houses that are unique. A home that inspires someone and may just make a perfect forever home. They are in a desirable area of town with great school zoning perhaps and are usually above 500k in price/above your first home buyers range if you will. They have much more emotional value attached to them and have features that you may not find anywhere else.
Properties that are more suited for deadlines are houses that are ideal first homes, or even investment properties. These homes are under $500,000 or are properties that are in subdivisions with repetitive housing styles all around.
Why is this?
From my research and personal experience of being on the frontline and selling real estate for over a decade, the majority of first home buyers wouldn’t be able to buy under auction circumstances. Having an unconditional bid without first consulting a bank is a tough thing to do when working with government or kiwi saver grants.
In my opinion there are far too many homes going to Auction that shouldn’t be. A home passing at Auction instantly destroys the integrity of the home and ends in a less than ideal selling situation for the vendors.
Every home is unique, and needs a unique selling strategy to bring out its best features, and ultimate sell for a maximum value. Next week I talk in more detail about how exactly this maximum value, or premium price is reached. Thank you for watching, see you next week!
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Last week I talked a bit about how important the right selling strategy is for your home. I’d like to speak in more detail, as I’ve had a few requests to clarify.
Now I understand if a vendor is in a hurry and just want to get their home sold and move on. This may be an option, but I know the reason people hire a professional is to get the best result, and you cannot achieve the best result if 90% of the marketplace is cut out from the running.
There is a process and a science to getting a premium price, so how is this done?
You need to get more buyers, and you need to get them emotionally involved in the home. Competitive tension must be created, which results in a premium price. That’s the formula.
You gotta make it easy for buyers; you gotta get the price right, you need to have the home presented right, and you need to have all information online at the buyers fingertips which includes the price guide.
Our primary objective as professional real estate agents should be to help our clients maximise the value of their home while making the process as simple and transparent for both parties (sellers and buyers). I understand any agent can put a listing onto trade me and realestate.co.nz, and put an ad in the paper, but the question is what are they going to do to add value and guide their vendors?
People have been lead to believe that all agents are exactly the same. They think they just turn up, get the listing, stick the property on the web, and that’s all an agent has to do. Yes, that might have been how things were done in the old days, but nowadays that is not enough.
One of the reasons that we sell a lot of our properties and have very happy clients at the end is because we are very honest with our clients. We tell them what’s best for their house and their situation and we make recommendations on how we can progress each step of the way. That seems to be a very successful formula because our clients and buyers often tell us that we have made this often daunting process so easy, simple and enjoyable for them.
If there is anything you are curious about when it comes to selling your home, feel free to contact me and I’d be happy to speak about it next time.