Real estate prices in New Zealand are slowly cooling, and buyers and sellers are becoming wiser. This means there is a healthy mix of properties up for grabs and sellers offering them. For investors like you, this means selling the property at a favourable price–one that allows for profit but will not keep your house on listings for too long.
Here are three things to remember:
You may have a couple of friends who are interested in the rental property you want to cash in on, but when you sell based on emotions or affinity, you may be lowballing your own property. That uncle might ask for a ‘family’ discount and who would be able to say no? It would be wiser to have a real estate agent who knows Auckland buyers and can price the real estate accordingly, so you get the profit you deserve.
Check the Value of the Property
Accurate valuation is important in gaining profit. You may think that your house has a higher value because of the sentiments you hold dear, and this results in you pricing it too high that buyers will be turned off. Even less favourable is if you price it too low and lose a good profit because you did not care to have the property valuated. An independent valuator should be in your contacts if you plan to buy or sell real estate in Auckland.
Mind the Length of Time
When your property has been on the market for quite a while, several questions come up: Why are people not interested? Is there something wrong with the property or its location? Is it too expensive for its size? This is not to say that you should rush into a sale just to get the product off the market sooner, but don’t wait too long either when there are offers that are close to your target price.
It is not enough to have a property of a good size to earn profits. What you need is a good strategy and a level head when selling real estate.