At the moment it is a ‘buyers market’ so make sure you are not enticed to pay for advertising when in an exclusive contract. (Get the licensed salesperson to ‘cost out’ and the benefits ‘to you’ for advertising before you commit). – Your target market may be outside the area.

If you take your home to auction it must be because you need a quick sale, do not do it because you feel you have a ‘desirable’ home, everyone has a desirable home filled with precious memories. Auction is good for exposure and makes the vendors meet the market. (The target market at present is tiny).

If your licensed salesperson recommends a price, stick to it for as long as possible, buyers will expect to negotiate. Find out why the salesperson has come to the conclusion of price reduction. See their statistics or feedback from the open homes, remember $10,000 or $20,000 is a lot to pay for a ‘hunch’.

Listings do not equal a good salesperson. The listing agency gets to put ‘SOLD’ on their sign; but this does not mean they sold the listing… Marketingman may have found the buyer for that listing!

When you sign an exclusive listing with an agency… Be sure all the licensed salespeople in town are permitted to present your property to potential buyers, be sure all the agencies in town know this by a letter; you are trying to sell your home, not line the pockets of your licensed salesperson.

A ‘Competitive Market Appraisal’ or CMA must be done for your home every 3 months, make sure yours is up to date.

Get a copy of your commercials every month and request contact every week so you know you have not been placed on a shelf and forgotten.

Don’t drop your price to get interest, buyers are looking at all different price ranges, if you drop a price you lose and gain interest from different sets of buyers, the public are wise to a sign saying ‘REDUCED’.

Don’t paint a room in your house, it can make other rooms look drab and new carpet may not be to your buyers’ taste, better to move on price.

Make sure the first open home is also for the other licensed salespeople in town, this allows them to get a feel for your property. (You should drop the flier off to the other agencies in town and invite them to a wine a cheese evening).

 Make sure you receive and read ‘NEW ZEALAND RESIDENTIAL PROPERTY AGENCY AGREEMENTS GUIDE’. It’s a booklet from the REAA that must be handed to you by law.