Real estate in 2018 - what's going to matter most?

Buyers have a little more choice as the heat has been taken out of the market as Auckland slows down.

In our last piece, we talked about how great 2017 has been for our region and it really has. 2018 is setting up to be a watershed year for our region. The question we most often get asked though, is what will the property market look like in the Rotorua region in 2018?

An element of any answer to this question is really crystal ball gazing. There are always potential circumstances, like natural disaster, global economic conditions and governmental policy changes that can have an effect. Overall though, without any major issues the story remains very positive for the Rotorua district.

In 2018, we expect to see things continue the way they have been toward the end of 2017, which really is good news. In November we've seen the number of homes on the market increase compared to the same time last year, which means a good amount of choice for buyers. The asking prices have remained steady, which suits both buyers and sellers and the stock that is on the market is selling steadily.

What has changed is that buyers do have a little more choice as the heat has been taken out of the market as Auckland slows down and we see the trickle-down effect of that. With good amounts of homes coming on to the market, this means that buyers are taking more time as they have more options. This means that getting great real estate results in 2018 is going to be all about a great agent who is a savvy, innovative marketer.

In 2018 there are a lot of choices when it comes to marketing your property and that is a great thing. World class property marketing starts with identifying the likely audience is for the home and where they are likely to be shopping. By targeting the buyers most likely to buy, it creates competition for your property. Competition gives you ideal conditions for increasing the sale price.

For this to actually happen, you need an agent who understands all the options. They need to know the traditional media channels, like print (data shows that the top 20% of the most effective campaigns have a print component) and radio. They also need to understand social media, digital advertising, real estate portals (Trade Me, RealEstate.co.nz) and how these can help get your property in front of the right buyer. With Google and Facebook now owning 84% of the global ad revenue, they must be considered as a legitimate option to market your property.

Quiz your agent on these things as best you can and make sure they can demonstrate knowledge and experience in this area. They will also need specialist help with these newer channels which should come from their team. At Bayleys Rotorua, our people are given training in all aspects marketing on a regular basis. We are also backed up locally by a team of expert marketers who love to help. If you want great real estate results, from a local team give our guys a call.