Become educated about the current market.

There is much reported about the property market – some of it correct and some of it not! Educate yourself by utilising trusted internet sites, economists, historical and projected statistics and salespeople who are busy in the market, salespeople whom you trust to tell it like it is.

Consider subscribing to:

Tony’s View https://www.markprior.co.nz/tonys-view/

NZ property Report https://www.realestate.co.nz/tag/new-zealand-property-report

One Roof News https://www.oneroof.co.nz/news

My concern for those who make decisions based on idle comment and assumption is their potentially skewed perception of the market, that invariably follows.

If you are taking “one” person’s experience of the market as offering you an understanding of “the” market for example; your higher list price, method of sale or overall expectation may result in any or all of the following.

You may miss a market if it is on the brink of changing from a sellers’ market to a buyers’ market or vice versa.

You may realise a lower sale price because incorrect pricing at the outset has resulted in additional and unnecessary time on the market. Nothing erodes price quicker than days on market!

Someone else’s expectation of a salesperson may not align with your own and the experience they felt was positive, may fall far short of yours. Undue stress and anxiety is going to be your bedfellow for the next 90 days, the term of your agency.

Waiting for an offer that a real estate market may not be accommodating of, is a typical mistake made by sellers who have not been educated. Your salesperson should be speaking with you about the reasons why, waiting on a wing and a prayer for the buyer you don’t believe has yet seen your home, a buyer that is in all likelihood not out there, is counterproductive. In most cases this thinking will actually cost you in terms of a ‘fair market’ sale.

To be aware of the reality of any given property market is for you – power!

Author - Diane Davidson