Feel the Fear and Embrace New Beginnings Anyway
Starting something new will always trigger mixed feelings. The adrenalin rush of embarking on a change of habits, routines, location, or relationship status can be curtailed by the “what if?” questions and our natural urge to feel safe will immediately kick in.
As 2023 commences, the real estate market continues to see house prices fall and economists predict that this decline is expected to be the prevailing scenario for the next 12 months at least. But bear in mind that prices are still above pre pandemic levels, and for that reason many homeowners have an an opportunity right now to secure the sale result they desire in this the optimal summer period.
1. Plan and Prioritise Your Strategy
Getting your home listed on the market does not start from the moment you pick up the phone and call an agent to appraise your property. Granted, this is a pivotal part of the process, but before then there are some necessary steps you’ll need to take first. A meeting of all involved to draw up a checklist will be hugely beneficial and avoid potential heartache as you embark on the journey. Near the top of the list needs to be these important issues:
- Are all owners on the property Certificate of Title aware of the agreed way forward? Is everyone that’s needed to sign contracts from agency agreement to Sale & Purchase Agreement on the same page literally and figuratively?
- Are lawyers, mortgage brokers, bank, insurance company, property managers (for an investment property) identified and advised of your plans to sell?
- Is the house in a market-ready state or are their remedial issues that need attention – if so, which tradespeople will you need to action the tasks?
A sound plan and the order of priority will keep you on track with the old saying that “you can’t manage what you don’t measure” very applicable here.
2. Decide on How You Want Your Sale to Look
You will have heard a raft of opinions from friends and family about how they sold their home. The real estate anecdotes and stories you shared around the barbecue at Christmas and New Year will certainly influence your decision. Or, you may have sold your home before and have a strong opinion based on that experience. It’s natural to want to go back to a tried-and-true scenario depending on past evidence. Just bear in mind that at the start of 2023 the real estate market will be different from the one you sold in last time.
There will be those in your circle who say that auctions are unsuitable in the current environment and others who sing the praises of this method. You’ll see properties currently on the market with Price by Negotiation (PBN) and others that are being advertised with a price. This is your moment to see the bigger picture and think about the end game. Your deliberations will involve these three primary considerations:
- The overall cost of selling
- The sale price you need
- The necessary timeframe
Be prepared to give yourself some wriggle room on these because we know life doesn’t run on rails – now and then we hit a curve or need to negotiate a speed bump. Be ready for those but remain optimistic too.
3. Choose the Best Agent to Sell Your Home
The process of identifying the right real estate salesperson and company to sell your home can be a daunting thought. There are approximately 353 active real estate agents and 67 active real estate agencies in Tauranga. That is a veritable grazing platter of people to consider hiring for your home sale. Of that number, you’ll be able to eliminate many of those based on things that you’re not comfortable with. For example, you may not want to hire a “newbie” or a person who does not work your area or property type. Jump online and do some research on backgrounds, length of service and industry achievements to help draw up a shortlist of ideal candidates. Ask someone you know who sold recently what their experience was – especially if it was a home like yours.
If you weren’t happy with the agent who sold you your home initially, then it’s going to be vital to seek out an alternative who will be a good fit for you today. On the other hand, a positive relationship you established as buyers will shape your decision to use the same salesperson again.
Across all companies there are a range of marketing packages, commission fees and selling strategies that agents must adhere to. However, at East Realty, with our boutique structure, free marketing program, and adaptable campaigns, we’re not hidebound by corporate protocols and brand limitations. Our clients often tell us this special point of difference is the reason they chose us for the job.
4. Determine to Get the Right Real Estate Result
Once you’ve selected your team for the job, the real work begins! You will be building a relationship with your chosen agent. At East Realty getting to know you and your goals is the part of the job we love. The famous Simon Sinek once said, “Working hard for something we don’t care about is called stress; working hard for something we love is called passion”. We value the opportunity that’s been given us to sell a home and we’re incredibly passionate about what we do. We’ve been making the real estate magic happen for people for decades delivering a positive selling and buying experience – and apart from each other, our children, and our dogs – there’s nothing we love more!
Having signed the agency agreement and established the marketing strategy, one of the first things we take from your shoulders is the need to get your home looking its best for launch day. This may mean something simple like mowed lawns and weeding gardens or it could involve more substantial work that’s getting in the way your dream price. We have a slew of tradespeople on speed dial for painting a room, cutting down a tree or water blasting a roof. Whatever the issue, East Realty will project manage preparations at a time that’s already feeling a tad stressful for you.
5. Keep Calm and Stick with the Plan
We’re not in the business of blowing smoke and sugar-coating things. This is a tougher market than we’ve had in a while and interest rates are creating angst as households adjust to cost of living pressures. Properties are not selling as fast as they were in 2021 and 2022 but the good news is, homes are certainly still selling. Hence the need for an ironclad plan, gold standard marketing, dealing with close and trusted partnerships involving agents who care and have invested financially in your campaign. It may not happen overnight like it seemed to two years ago, but it will happen. The sooner you get on the market early in this new year, the sooner we can reach the exciting destination you seek and tick a great big New Year’s resolution off your list. Now, about that gym membership…
If you’ve resolved to sell in 2023, then there’s no time like the present. Call Tracey and Trevor East on 07 578 6736 for a confidential discussion about your plans.
