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The power of getting your house sale right first time

Tony White — Mon, 28 Nov 2011 20:55:09 +0000

There is no doubt that today’s home buyers, looking to make that move, are very price conscious, very price and value educated. This means that even when they see the property that is ideal for them, they won’t just pay any price.

There is also no doubt that some properties languish on the market for months. One clear principle in real estate marketing, is that time on the market erodes value.

Therefore, when selling your property, it is vital to get it right first time. The things to get right are:

Your property. Prepare your property to look it’s best.
Get the price right! The most buyers for any property are in the market in the first 10-14 days. Don’t wait and see and drop your price later. The best buyers may have been and gone. If you can’t agree on the right asking price sell by Auction or Tender.
Your Marketing: You only have one chance to make the biggest impact. Launch with the biggest and best campaign you can. The first two weeks are critical!

Open Home Preparation

Tony White — Thu, 15 Jul 2010 23:16:16 +0000

Opinions about whether to hold an open home vary greatly amongst real estate agents and sellers, too. You’ll hear real estate agents flatly refuse to hold open homes because they view them as a wasted marketing effort, or they’ll say open homes are just a tool to find the agent new clients. And they take up the whole weekend!

There is some truth to this, but open homes sell houses. Nearly all of my listings sell at open homes. Many buyers find it more convenient to visit an open home at the weekend, and do not feel as though there is any pressure from a real estate agent showing them property. A buyer can decide to attend several open homes on one day and get a good overview of the market.

And sellers find it more convenient, too. A sellers know that the open home is a scheduled time, and that is the time the property is shown to buyers. Some of my sellers choose to make the open home the only time that the property is shown to buyers, maintaing security, privacy and a level of control over when people visit.

Although not all homes are candidates for an open home due to location, condition or competition in the marketplace, you won’t know how much buyer traffic you will get until you try. Exposure to potential buyers and to individuals who will talk about your home to others is almost always worthwhile.

Best Time for an Open Home

In many communities, Sunday afternoon is best, but in others, it’s Saturday. Occasionally if the home is close to a school, mid week can be productive.

30 minutes is typically the minimum, but some home are held open for 2 hours, for example, a lifestyle block.

Some agents will swap open homes with a colleague, in order to get time off, or if they are particularly busy. Others will do one open home during the week, and another on the weekend.

Schedule your open house to avoid conflicts with holidays, community celebrations or special events such as a Test match.

In Auckland, with our changeable weather, it is very difficult to plan an open home around the weather. Sometimes, wet days can be very productive as buyers check a home to see what it is like on a miserable day. Fine weather can be difficult; everyone goes to the beach! In Auckland and the North Shore, when buyers want a home, they will generally view it whatever the weather.

Advertising:

Properties that are overpriced, or are priced “by negotiation” with a small or no advertising budget have little chance of attracting buyers.

If you are conducting an open home, make sure that you have a good marketing plan, with good advertising and a good price or deadline. An open home is just one element in a good marketing plan, make sure you have got it right!

A sign advertising your open home is an absolute minimum!

Internet:

Most of the real estate websites advertise the open home times, and give the real estate agent the option of establishing a schedule. Make sure your agent gives you that schedule, I usually plan a month in advance for each property and advise the seller. An internet advertising an open home with no print advertising will bring buyers, as long as the price is right. I have sold several homes this way.

At Least 7 Days Before Your First Open Home

Before my sellers finish signing the listing agreement, they often ask if I’m going to hold their open home that weekend. After the decision to sell is made, most sellers are eager to get started. However, the home needs to be in prime condition first. Here are few things I suggest doing before holding your first open home:

Host a team viewing. Most listing agents will ask their colleagues to view new listings. If they don’t, then ask them. This is a great opportunity for your home to be shown to many agents who should have buyers ready to view.

If you are selling your home privately, real estate agents will not normally view the property with the intention of showing buyers. This is because New Zealand law prevents real estate agents from selling a property without a signed listing form. Calling a local agent to view your private sale, “in case they have buyers”, may not yield any results.

Move some furniture into storage. Sometimes sellers don’t want to cooperate with home staging. Excuses I have heard are “my furniture is too valuable to move twice,” or “I think the rooms look lovely arranged this way.” But smart sellers prepare a home for sale and move at least one piece of furniture out of every room. It makes the space look larger and more inviting to buyers — to the people whose opinion matters.

Remove items not included in the sale. Telling a buyer she cannot have your dishwasher because it’s too expensive to leave behind or that the ceiling fan does not stay with the house because your father gave it to you serves only to make the buyer demand it. If buyers don’t see it, they won’t want it.

Make arrangements for your pets to leave the house, especially dogs. Selling a home where pets live is difficult enough without advertising the fact that pets live there. Call a family member or friend and ask if they could take care of your pets for a few hours. Pets are also a distraction during an open house, and you want buyers to admire your home, not your cockatoo.

Part of your home marketing should include printing full colour flyers or brochures promoting your home. Make sure you include photographs, specs and pertinent information such as the price on your flyer, because it’s easy for buyers to forget particulars. I usually have a LIM report from the council, title, and a builders report if available.

48 to 72 Hours Before Your First Open House

Make sure that the open home time is on the sign!

Clean the house top to bottom. Vacuum cobwebs from corners, wipe windowsills and wash the windows, inside and out. Forget preconceived notions about cleanliness — pay attention to small details and concentrate on making the home appear sterile.

Polish surfaces, appliances and floors to a gleaming shine.

Launder and fluff bedding, towels and rugs.

Touch up spots on the walls.

Sweep out the garage.

Prune bushes, deadhead flowers, clean the path and mow the lawn. Check the footpath outside the house, remove any litter.

24 Hours Before Your First Open House

Most of your work should be completed by now, and any anxiety that is sometimes caused by last-minute chores should dissipate. At this point, your home should sparkle. In fact, you may be thinking to yourself that the house looks too nice to sell! Consider if you are truly committed to selling, because if you’re going to experience seller’s remorse, you may as well work through that process before your first open home!

On the Day

Open all the windows to air out the house. If it is a cold day, turn the heating on and make you home cosy.

Give every room the “once over,” by standing in the doorways and scrutinizing the view.

Take a look at the house from the road. Make sure that there are 2 or 3 “directionals” pointing the way to your house, and that a flag is up. Remember that City Council bylaws on the North Shore require that directionals and flags be put up on the day of the open home only.

Arrange flowers in attractive vases and place in appropriate places throughout your home to add color and floral fragrance.

When you’re finished, go out to dinner and reward yourself. Dining out has an added benefit too; at least you won’t be temped to mess up the house!

Afterwards:

Your real estate agent will be doing “callbacks” to discuss your home with the buyers. Anyone that showed interest will be given first priority! You should expect to hear from your agent immediately after the open home; I text sellers immediately after the open home.

Later, you will get a phone call advising the result and a email or letter for a final update. Sometimes a face to face meeting is warranted; especially if there is an offer! Sometimes the agent will have advice on how things can be improved, and you may have some issues to discuss with the agent.

Open Homes for Buyers

Tony White — Thu, 15 Jul 2010 22:14:53 +0000

Open Homes are a great way to find a home on the North Shore! They are also a great way to find the right agent to sell your North Shore Home.

A favorite pastime of many people — whether in the market to buy or sell a home or simply curious — is to attend a weekend Open Home. In fact, checking out open homes is almost a religious experience in Auckland. Everybody seems to go to open homes.

If you’re wondering about the proper open home etiquette or have questions about the role of the agent holding the open home, here are some suggestions to help make your open home visit productive.

Agent Roles at Open Homes

Because not all real estate agents host open homes in the same way, you can’t always be certain who will answer the door. It could be the listing agent, a buyer’s agent or even the seller. One thing is for certain, you do not need to ring the door bell or knock, unless there is a sign posted instructing you to do so. Open the door and walk in. If you don’t see an agent, call out “hello,” just in case the agent is, um, otherwise occupied in a private room. Usually there is a sign asking you to remove your shoes, most people to unless the agent says not to bother.

Here are types of agents you may encounter:

Standing at the front door to greet you. This type of agent will shake your hand, introduce himself or herself, get your name, hand you a flyer and say, “Go on through at your own pace.” The agent might even follow you to point out features and answer questions you didn’t realize you had.

In the driveway, asleep behind the wheel of their car. This agent might leave the door ajar and never get up to greet you. Feel free to go inside anyway. Make a note of the agent’s name and promise yourself you will never call this company or the agent.

Reading a book or the newspaper in another room. The non-engaging type agent will say, “There is information on the bench. If you have any questions, let me know.” Generally, this is an agent who didn’t really want to hold open the home but is doing it so she can tell their seller they did.

Is the Open Home Agent the Listing Agent?

The best way to find out if the agent holding the open home is the listing agent is to ask. You can’t always count on the fact that the agent’s name will be on the For Sale sign or that the agent will be wearing a name badge. Sometimes two agents co-list a home.

Occasionally, the agent holding the open home will not be the listing agent but an associate agent. This agent will be hoping to represent a buyer to buy that home or, for that matter, any other home.

If the home is a private sale, the person showing the home may be the owner or an associate of the owner. They may not ask for your name and number, feel free to view.

Open Home Buyers With Agent Representation

If you are already working with an another agent and you want that agent to represent you, your agent should accompany you to the open home. If the agent cannot attend they should make an arrangement for you to visit. Most agents conducting an open home would expect to represent you should you wish to buy, unless they have an arrangement with your agent.

The easiest way to inform the agent you meet that you are working with another agent is to ask your agent to call first.

Open House Home Buyers Without Agent Representation

If you have not yet decided on an agent, let the agent at the open home know that you are looking for someone to help you buy a house. Maybe you will want to interview the agent to determine if you want to work with them. Ask the tough questions to get the right answers.

Open homes are a good way to find an agent because you will meet face-to-face. You can witness the agent in action as well.

Open Home Buyers Who Stop on a Whim

Often, buyers will drop in on an open home simply because it is open. Maybe it’s a home that you’ve often admired on that street and are curious to see what it looks like inside. If that’s the case, just tell the agent you have no inclination to buy. You can still tour the home. And who knows, more than one person has decided to buy a home because they unexpectedly and immediately fell in love it!

Neighbours Who Visit Open Houses

You might think the agent doesn’t want you to come to the open home if you are a neighbour, but actually, the agent would love to show the home and get your feedback. Neighbours are a great source of information. In addition, you might have a friend or coworker who could be interested in the home. So don’t feel embarrassed to admit to the agent that you are “a nosy neighbour”.

Selling In Winter in New Zealand, 9 more Tips!

Tony White — Fri, 25 Jun 2010 04:02:59 +0000

Last week Pip and I sold a home that had been on the market for 2 years with another company. What did we do that was different? It’s winter and once again there is a shortage of homes. Properties that have been on the market a while are moving.

Selling your home in winter in New Zealand presents it owns challenges. As I write this it is pouring with rain, and cold. Homes just do not show well in this weather, and both buyers and sellers are often reluctant to get out and look at property.

But, at this time of the year, buyers are serious. Many buyers like to look at homes in the winter months, because they see them in a different light. The weather will filter out any tyre kickers and nosy neighbours. And when you sell in winter, you’ll be the one shopping for a home in spring, when all the other houses come on the market. There’ll be a bigger choice and you will be cashed up and in a good position to buy.

In winter there is often a shortage of homes of all types. Many real estate agents begin to focus solely on buyers because there are so few homes on the market. Multiple offers, and bidding wars result. Houses that seem stale, suddenly sell.

And its a lack of listings that is prompting this buyer competition. When there are fewer properties to see real estate agents concentrate their attention on the few that are on the market, it’s easier to stand out in the Property Press and on the Internet, and more buyers visit your property.

There are steps you can take to brighten your home and make the showing a great experience for your buyer.

Here are my 9 tips:

1 First Impressions:

Sweep up leaves!
Footpaths and decks can be slippery, especially if there is a moss or mould about. Wet and Forget is a great product and easy to use, and will remove moss and mould. For a quicker result, a water-blaster will do the trick.
Unblock drains and especially gutters. A blocked gutter and rain will often put a buyer off right away.
If you live in an area with heavy frosts, sprinkle sand over your footpath.
Put a container for umbrellas by the door, and have a doormat handy. Make sure that buyers have somewhere to put their shoes out of the weather.
Buy a daphne in a pot for the front door. The scent is welcoming.

2 Let The Sun In!

Pull up the blinds, open your curtains and push back the drapes on every window.
Turn on every light in the house, including appliances and wardrobe lights. Bathroom vanity lights, table lamps and rangehood lights all help make a home more attractive.
Try putting some spotlights behind furniture especially in darker rooms and corners.
Don’t forget to turn on the lights in the garage.
If it is gloomy outside or at dusk, if buyers are coming, don’t forget to turn on outside and garden lights.
Trim tree branches away from windows and paths, remember the weight of wet tree limbs will make them hang lower.

3 Warm Up!

A warm house will encourage buyers to stay, especially on a cold day. Buyers really appreciate a warm dry home.
If you have central heating or a heatpump, turn up the heat a degree or two, and then turn it back to normal (about 20 degrees) just before buyers visit. This will stop a noisy heatpump turning on when buyers visit or at open homes.
Turn up underfloor heating especially at the front door.
Turn your dehumidifier off and put it away when open homes or buyers visit.
Light your fire. Make sure the damper is open, so there is no smoke. Make sure the firescreen is up and don’t leave the fire unattended for long.

4 Creating a Mood.

Try a bit of romance!
A couple of champagne glasses and a champagne bucket on the coffee table in the lounge, with some candles (don’t light them!).
Lots of cushions and a throw across your lounge suite.
Set the dining table, as though for a romantic meal.
Get some winter flowers.
Set a breakfast tray on the bed in the master bedroom, with a coffee cup, napkin and newspaper!
Roll up some hand towels, tie with a ribbon and place artistically on the vanity in the bathroom.
Hang two plush bathrobes
Add some special soaps, lotions and shampoos.

5 Music Music Music!

Turn on some music. The best is some soothing classical, or perhaps jazz.
Turn the TV off.
Don’t turn on a commercial radio station, Concert radio is fine, but better to fill a CD changer or perhaps use an iTunes collection.

6 Scent

Please don’t spray room deodoriser around or use plug in air fresheners, some people are allergic.
Don’t burn candles or oil scents for the same reason.
It can be a great idea to bake some biscuits or bread, it’s even better to put a few out for buyers when they come!

7 Make Your House Shine!

Washing the windows inside and out will let more light in.
Clean cobwebs.
Bleach the grout around your sinks, tubs and showers and if necessary replace it.
Polish up your chrome fittings in the bathrooms.
Clean the refrigerator and oven.
Vacuum daily
Wash and wax wooden floors.
Dust the furniture, ceiling fan blades, and lighting. Some lights attract insects, make sure they are clean.
Empty your waste and recycling bins.

8 Use Timers and Other Technology

Plug table lamps into a timer to turn off and on automatically.
Consider motion sensors to turn light on outdoors, or in your garage and basement.
Set up a crock pot to make soup or a casserole when buyers are coming!
Turn off you answering machine.

9 Information

Try taking some photographs of the exterior, and especially the view, or use the photos taken for your marketing and put them on display. When people visit at night or on cloudy days they will be able to see the view and outdoors.
Make a display of photos of your garden in spring or summer, especially a pool or BBQ area in use on a hot day.
Make a display of information about the home. Special features, like an antique chandelier, a famous architect, or a dormant plant in the garden, will give you home a little difference that could clinch a sale.