Apartment Specialists Podcast No: 21
Are urgent sales really that disastrous? Is it really true that you are going to accept a low price if you sell your apartment urgently? Learn more from this podcast.
Andrew Murray, Apartment Specialists. You know, I get this question quite often – and a lot of owners think that – if I have to sell their property or their Auckland apartment really quickly, it means they’re going to have to accept a low price because of their contract. Now, unless you’ve got to sell it within days – which is very unlikely – generally a bank or whatever the situation is that’s making you have to sell it, we usually have how many months time. Now, this means you definitely don’t have to accept a lower price or lower than the market value.
The reason why I say that is, most of the activity that happens when you list an Auckland apartment happens in the first two weeks. You can see this by the amount of hits or the amount of views. For example, when you put an apartment in TradeMe, which is where most of your leads come from. Because with apartments – unlike houses – people search more on the internet than they do on the papers.
So the key thing there is to not panic and realize still – the fundamentals apply – which is presentation. So you’ve got to make sure that you take that week, to make sure that – say for example – what I do with an owner is, it takes me a week to make sure that I’ve got the apartment ready. All the information – I’ve got my sales pitch down, I’ve written the ad the best I can, I’ve got all the photos. So when it goes up on TradeMe, it’s got 12, 14, 15, 16 professional photos. Not putting up one photo and then adding them in five days time because it’s a rush. You’ve already missed the boat.
So the important thing for an owner to remember is you do not have to sell your – or undersell your apartment if you need an urgent sale unless you have to sell it in one or two days. And then what I’d do is I’d probably advise you to go to a trader and they can give you an unconditional offer very quickly. And I would gladly put you in touch with one and you won’t need to go through with a sales agent.
So I hope that gives you a little bit of justice. If you have to sell your Auckland apartment urgently, you don’t have to take that when it comes down to value. You’re just going to make sure you present your apartment properly. Do what you think is normal and just trust your agents to do a good job. And make sure that they explain it to you. And make sure that you follow how they market your property. It might take that time.
All right, next week we’re going to talk about another one. When an agent says that any other agent can sell your property. It’s a bit of a myth in this industry because it doesn’t actually happen. And I’ll explain to you why. Talk to you soon.