Smart thinking

"You've got to present yourself well and target-market your property effectively to attract the right buyers"

Kirsty Stevenson of Bayleys talks today's market as she sees it.

By VICKI HOLDER.

Kirsty Stevenson, manager of Bayleys Auckland Central office, warns vendors to think smart and make their house stand out if they want to sell in this market. "You've got to present yourself well and target-market your property effectively to attract the right buyers," she says. "Right now, there's a lack of properties for sale. Though there are a lot of buyers in the market, they're not making quick decisions."

Kirsty explains that because Auckland is a growing city, there are always new buyers about. "As well as people moving in from other regions you've got the off-shore buyers. But buyers are becoming tougher. Whether they're locals trading up or from out of town, you need to spend money and time to present your property well. You also need to put a time-frame on your marketing.

"By putting a time-frame on it, you put the buyers in the position where they need to make a decision on whether or not they want to buy."

Kirsty recommends a four-week marketing campaign - whichever process you use to sell - auction, tender or using expressions of interest. While in last week's edition of Weekend Real Estate, property expert Stephen Hart pointed out that less sellers were using the auction process right now, Kirsty says this is simply because there is less stock to sell, which is normal for the winter market.

She says come spring, more people will be using the auction process, for she believes it's always the best way to sell a property where there is more than one buyer. "For a lot of properties, there's still more than one buyer out there."

To make sure your property is looking its very best when it comes to open homes, vendors should seek an independent assessment of their home from an agent who can advise on work that needs to be completed. They should consider:

Fixing and repairing

Touching up any chipped paintwork

Hiring furniture and art to dress up their homes

Employing a gardener to make sure the gardens are in order and regularly maintained

Taking the time and effort to present an image of perfection is well worth it at the moment. "The money you spend at the front end will always be recouped at the back end, no question about it," says Kirsty.

To gain a realistic idea of the price you might achieve, it's important to do your research on the market by checking out prices in your area. Again, Kirsty says seek advice from a good real estate agent who can supply you with figures with which to compare your property.

Get a registered valuation if you are unsure, "for if you over-price the property, you'll lose the opportunity". Once you have turned buyers off, you risk languishing on the market and tainting your property. Buyers are more educated than they used to be. They know what they should be paying and are prepared to stick to their guns or walk.

Vendors must be prepared to recognise prices have remained relatively constant. They've stopped increasing at such a rapid rate, says Kirsty, so vendors should expect to consider a price in line with market expectations. "If they do so, they will sell. There's no question about that."

As long as vendors follow good advice from real estate agents and other professionals, they will sell their property.