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5 Real Estate Sales Methods You Will Love!

Houses For Sale Wanganui
Trade Me Property Wanganui

For many people, Trade Me Property Wanganui is the first port of call when looking for houses and properties for sale in Wanganui, New Zealand but MyMansion.co.nz is now becoming just as popular for people looking in the New Plymouth to Wellington regions.

We do not offer Wanganui houses for rent on our site.

This is because it is more specific and fewer properties to sort through that are of no interest to buyers. Trade Me Wanganui is one method of sale but there are several methods.

Some of the most common methods of selling property in New Zealand include advertised price, deadline sales, auctions, tender and negotiation.

These types of sale methods require offers to be written on the standard purchase & sale agreement issued by the Real Estate Institute of New Zealand.

Regarding auctions & tenders, some agents like Bayleys Real Estate, Property Brokers Wanganui or Arizto Real Estate Wanganui seem to specialise in these forms of sale more than other Wanganui real estate agents.

Auctions and tenders are a process that is often recommended by agents for higher-priced properties or unique properties that are hard to put a market value on.

Whanganui real estate prices have risen quickly over the last few years so valuing property can be difficult. The vendor usually pays extra money to promote the auction or tender.

Property Brokers Wanganui houses for sale generally have the largest number of properties for sale.

With an auction, for example, the buyer who places the highest bid above the reserve price wins the auction, and they must be ready to complete an unconditional sale.

With other methods like an advertised price or deadline sale, the buyer can either make conditional or unconditional offers to buy a property.

What is selling by negotiation and deadline?

Selling by negotiation and deadline is one of the most common selling methods for houses for sale Wanganui.

For this method, the prospective buyer makes an unconditional or conditional offer at any given time. There is just no advertised price.

When the property for sale has an advertised price, the buyer has no time limit for making an offer.

It is important to note that property sold under deadline sales is advertised for a given period with a marketed end date.

Price by negotiation is often used when there is no accurate estimate of the property’s value or the vendor and their agent are just hedging their bets to see what the market might be prepared to pay.

As prices, sky-rocket during 2021 agents seemed to be using the deadline sale option more than ever to sell. It is no different for houses for sale Marton or Bulls or Waverley.

But this may change as prices level off as they are in 2022. Houses for sale Westmere Wanganui are at the expensive end of the market.

With price by negotiation, the prospective buyer makes an offer based on how they perceive the market price and value of the property for sale.

The seller has to bargain the price with the buyer to reach an agreement. If an agent is involved in the process, they have to present all offers they receive to the property’s owner.

If there are multiple offers, this can often become what is known in the industry as a “Dutch Auction” where buyers compete against each other with higher and higher offers until one pulls out.

It is kind of like having an auction when you aren’t having an auction.

What is selling by auction?

Selling property by auction allows prospective buyers to bid against one another face to face (sometimes over the phone) until the one with the highest bids wins the sale.

The method is usually a fast-paced public event that can attract many buyers hoping to snag a bargain.

We recommend that you do your homework, know what a property is worth and set yourself a limit if you intend to buy at auction.

People can often get carried away in the heat of the moment so another good idea is to take a level headed person along to the auction with you who is not emotionally involved with the property for sale.

A thought to keep in mind is that many properties sell straight after an auction.

Before selling at auction, auctioneers usually require the property owner to set their reserve price.

The reserve price is the lowest price the property owner is prepared to take during the auction. The information is only available to the property owner, the auctioneer and a trustworthy agent.

By selling property through an auction, the owner can always receive a pre-auction offer. The offer is made before the auction day, and it is written on the auction sale and purchase agreement.

The offer is also unconditional unless the seller agrees to other conditions.

During the auction, all sales and purchase agreements must be unconditional. This means that the buyer cannot attach conditions to an auction purchase.

However, the buyer can approach the property owner to discuss the auction’s terms or even change the settlement.

Remember, the sale is unconditional as soon as the hammer falls, the buyer is obliged to complete the transaction and this is a great way to find your perfect place to live.

If either of the two parties fails to honour the sale, the matter becomes a legal issue forcing both to seek legal advice.

What is selling by tender?

Selling by tender is a sale method where interested buyers submit written offers to agents before the deadline day arrives. Under this method, buyers are often allowed to make conditional offers.

For example, vendors may allow the buyer to make conditions on the offer, subject to securing finance. The prospective buyer can also attach conditions for sale, such as defining the settlement date or listing information of chattels that come along with the property.

Prospective buyers are allowed to make offers on houses for sale at any time before the deadline arrives.

However, tenders are usually not considered until after the deadline day. After the tender closes, the seller usually has up to five days to decide which offer, if any, they will pick.

What is a mortgagee sale?

Trade Me Property Wanganui

Houses for sale in Whanganui being sold through a mortgagee sale are often seen on Trade Me Property are more often than not sold under auction and are often being sold under duress.

And recently more houses for sale Pahiatua trade me real estate for sale view now is often quoted.

In other words, the owner has fallen behind in their payments and the bank is foreclosing on the property. Mortgagee sales are more likely to be very stressful for the parties involved.

Arizto Whanganui

Whanganui Real estate agents will be highly sensitive to the seller’s situation as reluctant sellers. Still, their focus and obligations will be with the bank or financial institution that is forcing the sale. So this could be your perfect place trade for real estate.

To guarantee the sale’s success, the real estate agent starts by creating a solid marketing plan for the property and can also advertise the property as “under mortgagee sale”.

The agent will then ask for access to the property so that they can market the property but this does not always happen and at times buyers are unable to look through a property being sold under mortgagee sale.

Buyers have no guarantee what condition the property will be left in.

Should I sell with an agent or privately?

Whanganui real estate agents are there to work for property sellers. Most Wanganui real estate agents are familiar with the location they operate in and are experienced negotiators.

Houses for sale by the owner can save the owner paying commissions but real estate agents argue that because they can often get multiple offers through their advertising and marketing experience, it is better to use them and get a better price.

This is debatable of course but private houses for sale Wanganui are very popular and free on MyMansion.co.nz.

When selling through a licensed real estate agent, the agent receives a commission fee, usually a percentage of the total property sale price.

The agents then liaise with prospective buyers to negotiate the best price for the property. This can take the stress out of the process for the sellers.

Another advantage of using agents is that they are aware of individuals who are actively looking for houses for sale Wanganui, Waverley, Marton or Bulls.

They also have access to specialist platforms like MyMansion.co.nz and print publications and various others that are not always available to private sellers.

The local Whanganui Chronicle Property Guide, for example, does not allow private property sales.

If selling through an agent, the property owner can report an agent to The Real Estate Authority (REA) if they have any issues with the real estate agent.

Selling a house privately is fraught with difficulties and is time-consuming unless you get lucky enough to sell your property quickly.

Trade me houses for sale Levin is a popular search but Levin is around an hour’s drive from Whanganui.

Dealing with highly emotional people wanting to buy your house can have its moments. The main advantage of selling property privately are saving on commission fees and control over the negotiations.

About the Author

Steve Baron is the Founder & CEO of MyMansion.co.nz. He is a former successful real estate agent and property investor when based in Auckland and formerly the Managing Director of Baron Marketing Ltd, an advertising company he founded and ran for over 20 years.

He is a past mentor for Business Mentors NZ and holds a Bachelor of Arts Degree from the University of Waikato, Majoring in Economics & Political Science. He also holds an Honours Degree from Victoria University of Wellington in Political Science.

He is a published author of three books and a prominent guest editorialist for newspapers throughout New Zealand. In his spare time, Steve is the Clerk of the Scales for New Zealand Thoroughbred Racing, is a Bridge Grandmaster and enjoys walking, running and cafes.

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