SELLING WITH LORRAINE
WHAT TO EXPECT
Selling your home can be a time consuming and stressful process. There’s a lot to consider – should you buy or sell first? When is the best time to sell? How do you choose a sales consultant? What’s the best way to market and sell your property? And those are only a few of the major considerations!
We want to make sure that you’re well informed of the whole selling process and know exactly what to expect every step of the way.
WHEN IS THE BEST TIME TO SELL YOUR HOME?
There are always a few factors that play a part when it comes to listing your home on the market that will not be related to the time of the year. Things like personal circumstances and market conditions are always playing the biggest role in choosing when to market your home.
However, if the market is right and it is time for you to sell, then it makes sense to list during the time of the year that best suits your home to attract the most buyers. Below are some benefits of listing your home at different times of the year:
Selling in the warmer months
Traditionally, Spring has been long considered the best time of year to sell residential property. The garden and outdoor areas will probably look their best in Spring and warmer temperatures mean more people will be out and about and like to look at open homes.
In New Zealand, we see a lot of properties enter the marketplace at the end of Summer / start of Autumn, with March, April and May traditionally attracting a large number of new listings.
Whilst this means there's also traditionally a lot of buyer activity, if you are wanting to set your property apart from the competition, you might want to consider listing your property earlier in the year.
Listing your home around late January / early February means you'll get ahead of the competition that tends to come onto the market from March onwards, and it also means you'll start to attract buyers after the long holiday period. This may target buyers who have had time off over the Christmas and New Year period and have had time to reflect on their next big move for the coming year, including buying a new property.
Selling in the cooler months
Traditionally not the most busy times of the year, winter can still be the right time to list your home on the market. One advantage of the cooler months is the lack of quality competition, as other home owners holding off until the traditional March, April and May period. With fewer properties on the market, your home as a much better chance of standing out and attracting the best buyers.
the location of your home may also play a big role of what time of year to place your home on the market. If your property is near a ski field or nestled at the foot of a mountain range that looks particularly beautiful in winter, you can use this opportunity to capitalise on views and nearby winter activities.
Winter can also be an excellent opportunity to showcase how warm, comfortable and inviting your home can be in winter. Make the most of cosy features like open fireplaces and wood stoves, light candles and decorate with plush customs and warm throws throughout living areas.
OUR COMMITMENT TO YOU
AND YOUR PROPERTY
As a minimum standard, we will undertake the following activities - before, during and upon the successful sale of your property. This ensures you have a clear understanding on what you can expect from me and our team whilst your property is listed with us.
Written marketing plan
Following initial consultation and property inspection, we will present a comprehensive marketing strategy specifically tailored for you, your property and the current market conditions. A fully detailed marketing action plan calendar will be prepared which clearly identifies where and when all scheduled promotional activities and regular client contact will take place. Because we believe that our relationship is a partnership, your input is invaluable at this key stage.
Post-inspection feedback
Following each visit by an individual potential buyer and, of course, immediately after all inspections, we will keep you completely up-to-date on how your property was perceived, pertinent comments, price-relevant issues and prospective ‘hot prospects’. Just like us, you need to know exactly what’s going on at all times.
Weekly written marketing report
This is an important tool for assessing market reaction to your property and also to identify those prospective buyers who are showing the most interest. Based on this regular information, we will make on-going recommendations which will maximise the effectiveness of our targeted marketing efforts.
Marketing review meeting
It is during the initial few weeks after your property is first introduced to the market and has gained a high profile and maximum level of interest that it is most valuable to review the marketing progress to date. A frank and open discussion between client and consultant can often identify new opportunities and strategies which can build upon the original marketing plan.
All offers presented in writing
Because it is your property, it is solely your decision whether to accept or decline a specific offer. For your consideration we will formally present every offer received in writing so that you are better able to make an informed judgement. Obviously we are only too happy to offer advice, but we will always leave the final choice up to you without exerting any undue influence whatsoever.
PREPARING YOUR PROPERTY
FOR MARKET
As a minimum standard, we will undertake the following activities - before, during and upon the successful sale of your property. This ensures you have a clear understanding on what you can expect from me and our team whilst your property is listed with us.
De-clutter
The first tip is the simplest. It’s obviously a must to clean and tidy your home before an inspection, but it’s crucial to also get rid of clutter that could stand in the way of a potential buyer picturing themselves within the home. That means getting rid of personal nick knacks and photographs, unnecessary furniture or furniture within a room not designed for that purpose, for example a bed within a space traditionally used as a living area. Even if it means putting belongings and furniture into storage until the property sells, the investment will be worth it.
Repair
Make any aesthetic repairs well before inspection. Things as small as a chip in paint in an interior wall could detract from the overall feel for the home, so get these things up-to-date before your first open home. You could also invest in updating features like tired curtains, older fixtures and fittings, or laying new grass if you have a patchy lawn.
Style
Once clutter free, consider using a home stylist or home staging service. The results can be quite dramatic. Home stylists will take a look at your space, and then loan you the furniture which is the size and style best suited for your home, which will make a space look bigger, comfortable and liveable. Again, this will help potential buyers to see themselves living in the space. Lorraine works with a number of different home-stagers to best provide the right look and feel for your property.
Photography
Before even getting to your first home inspection, consider using a professional photographer to take quality, well-lit pictures of your home. After going to the trouble of updating, de-cluttering and staging your property, the last thing you want to do is turn people away before they’ve even inspected your home.
Professional photos are taken with professional equipment and can make spaces look bigger, well-lit and showcase them in the best possible way. Plus you benefit from the experience of someone who knows exactly how to take a photo that appeals. This way, you attract buyers looking online, scanning through ads, and looking through the paper. It’s about piquing interest to attract buyers to inspect in the first place.
Your property may not need all of the above, so it’s really about taking a look at your home objectively from a potential buyer’s perspective and assessing what needs to be done. What would distract you if you were inspecting the property? What would you want to replace or update if you were thinking of making an offer? If you were to say to yourself “this place is great, but…”, how would you finish that sentence?
Once you’ve made a list of the possible things your property needs, you can employ the top four tips above to make your home a stand-out to the sea of potential buyers out there. If you are unsure or would like recommendations, don’t hesitate to ask Lorraine.
METHODS OF SALE
With market conditions constantly changing and no two properties ever the same there’s never one ‘tried and true’ method of selling. The type of property you wish to sell and the timeframe in which you want to do it ultimately determine the most appropriate and effective marketing strategy.
Lorraine is among the top achievers, no matter what it takes. And, while the result is always about what’s best for you, that outcome can be achieved in a number of different ways.
Tender
Tender is when all the prospective purchasers must put forward their very best offer for your property. After the closeoff date you’ll view the offers and have the option to accept, decline or negotiate with them.
Benefits of selling at tender:
• Flexibility for seller
• Deadline creates competition and urgency
• Buyers become emotionally engaged in the property before they consider price
• All tender details remain undisclosed and absolutely confidential
By Negotiation
Selling by negotiation means an offer for your property can be received at any time. You can then accept, decline or negotiate with the prospective purchaser.
Benefits of selling by negotiation:
• All buyers are eligible
• Focus is on the property and not the price
• It removes the risk of under-pricing
Auction
Sale by auction is the most preferred selling method in today’s market. It means your property is usually on the market for a shorter time period and gets the best price. There is also the opportunity to accept offers prior to auction day.
One benefit of auction is the buyers are focused on the maximum price they’ll pay; not how low their offer should be. Combine this with the natural competitive energy on auction day and the highest price will be revealed. Lorraine will create an intensive auction marketing programme to attract genuinely interested, cash-in-hand buyers to your auction.
Benefits of selling at auction:
• Focus is on the property and not the price
• Builds urgency and a purchase deadline amongst buyers
• Removes the risk of under or over pricing
• Creates a competitive, transparent purchasing environment
• Finds a true ‘cash’ buyer with no conditions
• Provides complete control for the seller – you set the terms
• You have the option of accepting offers prior to auction
Set Date of Sale
Set Date of Sale is also a deadline sale, whereby you are inviting offers by the deadline or earlier (if advertised so). You will negotiate the terms directly with potential purchasers. Set Date of Sale allows for greater flexibility for both you and the purchaser as certain conditions can be negotiated into the contract at your request or the request of the potential purchaser, such as subject to building inspection or subject to finance.