When it comes to selling a home, achieving a price well above the current valuation is every vendor’s dream. Recently, a four-bedroom family home at 25 Kaiwara Street, located in the coveted Cashmere High School zone, sold for an impressive $170,000 over the CV (Capital Value). This remarkable result was driven by a combination of expert pricing, beautiful presentation, and strategic marketing. Here’s an inside look at how this success was achieved and what sellers can learn from it.
This property, built in 1960, offers four bedrooms and two living areas, making it an ideal family home. Situated at the back of the road, it enjoys privacy and tranquillity. Adding to its appeal are three apple trees and several other fruit trees in the spacious backyard, providing plenty of room for children to play. Its location within the Cashmere High School zone adds significant value for families prioritising education.
One of the key factors behind the successful sale was the decision to price the property fairly from the outset. The property was listed with a price guide of $775,000 to $855,000, a range carefully determined through thorough market research. This realistic pricing strategy generated strong buyer interest right away.
“We priced it very fairly, and that created competition,” explained Nikhil, the lead agent. Despite challenging weather on the first open day, over 15 buyers attended, and more than 30 groups viewed the home over a two-and-a-half-week campaign.
Staging played a crucial role as well. Initially, the home was a rental with tenants interested in purchasing, but negotiations didn’t meet expectations. Nikhil and the vendor agreed to stage the home beautifully, which helped buyers fall in love with the property and justified the strong price achieved.
Nikhil emphasises the significance of including a price guide on every listing. Research shows that 72% of buyers will not consider a property if no price is provided. A clear, realistic price guide not only attracts more interest but also encourages serious buyers to engage.
“One of our unique selling points is always having a price guide on the property,” Nikhil said. This transparency helps buyers start their search logically, and once they visit the home and connect emotionally, they are often willing to pay more.
Buyers make decisions based on both logic and emotion. Initially, they approach the purchase with their head, evaluating pricing and market value. Once they visit the property and envision themselves living there, they buy with their heart. This emotional connection can lead to offers exceeding expectations.
Nikhil explained, “It’s not just a pair of shoes you can throw away tomorrow. It’s the most expensive asset or investment for somebody. When they buy with their heart, they pay a whole lot more.”
While auctions are popular, Nikhil advises that they are not always the best approach. For this property, a deadline sale was chosen to cater to a broad range of buyers, including first-home buyers and growing families. Auctions can sometimes discourage these buyers, especially those relying on KiwiSaver or those who find auction environments intimidating.
Nikhil’s approach is always tailored to the vendor’s best interests. “We only give recommendations based on what’s best for the owners and their property,” he said.
To put the sale into perspective, a nearby property on Spradon Road, which was subdividable and in a better area, sold at auction for $873,000. By contrast, this home in the Cashmere High School zone sold for $930,000 through a deadline sale, underscoring the exceptional result.
With such strong buyer interest and an impressive sale result, Nikhil notes there is a high demand for homes in this area.
The sale of 25 Kaiwara Street is a shining example of how fair pricing, exceptional presentation, and a tailored sales strategy can deliver outstanding results - even in challenging market conditions. By combining thorough research, honest communication, and a heartfelt approach to property sales, vendors can achieve significantly more than their initial expectations.
If you’re considering selling your home in a sought-after school zone or want to understand how to maximise your property’s value, take a page from this success story: price fairly, present beautifully, and choose the sales method that best suits your unique situation.