Latest real estate news, views & reports

As the Christmas decorations begin to adorn the shopping malls and the warmer weather becomes a little more consistent, we feel a sense of summer and that excited feeling that the holiday season is on its way. Of course, we have the hurdle of the Christmas silly season to get through first, but the general feeling is that better times are on their way. The turn of the new year is a celebration we sincerely look forward to.

So too is it in the real estate market. There are some interesting signs in the marketplace which are beginning to build our confidence that prices are beginning to establish a slight upward movement. The numbers of buyers entering the market is steadily increasing.

While the industry statistics continue to show us that the Rotorua and the Eastern BOP region is lagging on last year’s numbers relating to price, sales volume and numbers of days to sell, we are now seeing quite a few strong signs of good things on the horizon.

Our once desolate Auction rooms are now attracting active bidders and some exciting sales under the hammer. If properties are not sold at the auction itself, then soon after we often see the sold sign go up due to retrospective negotiations. First home buyers still seem to be the dominant buyer demographic in the market. However, we are beginning to see the signs of investors returning. People looking to upgrade their home and transition to a larger or more modern property are also showing a greater appetite to transact property

For those who are thinking of coming to market, do expect the market to take about a week longer than last year. The numbers say 5-6 weeks now.  As the summer activity speeds up though, we do expect those numbers of ‘days on market’ will begin to reduce. Buyer competition is also noticeably increasing compared to what we were experiencing earlier this year.

Looking ahead, it will be interesting to see the effects of the decision the Reserve Bank of NZ makes on the OCR interest rate and the trading banks response. Certainly, the main thing to watch is the effect interest rates have on the market. Will the trading banks free up available lending capacity for the buyers? On the flip side, many buyers are still being very cautious not to overload themselves with further debt.

If you are a buyer, now is a good time to get ahead of the competition. For a seller, talk to your local EVES salesperson sooner rather than later. A good sales strategy and marketing timeline will be critical for you to make the most of your selling price as we head into 2025.

As we move further towards the summer market, making your property listing stand out is more crucial than ever. With an increasing number of homes for sale, it is vital you leverage every advantage to captivate potential buyers. As market leaders, we are dedicated to providing you with insights and strategies to ensure your property not only stands out, but also achieves outstanding results. Here are our top tips to enhance your listing's appeal and stand out against the competition:

1. Choose the Right Salesperson

Partnering with the right real estate salesperson is paramount to achieving an outstanding result. Start by requesting a property appraisal, to get a feel for how they engage with you and how they plan to execute a successful campaign. Ask your salesperson to take you through their recommendations for pricing method and marketing. Your property is your biggest asset, and when transacting you want to rest assured that your salesperson is supported by a brand with a proven track record, excellent market knowledge and innovative selling strategies.

2. Price it Right

Competitive pricing is key. Work with your real estate salesperson to analyse comparable sales in the area and set a price expectation that reflects the true value of your home. An accurately-priced property often generates more interest and can lead to quicker sales. Remember – homes that are overpriced tend to sit on the market for a lot longer, which in turn results in more mortgage repayments, and often end up selling for less than their market value. If you’re home is overpriced, it will make comparable stock for sale seem all the more appealing.

3. Create the Perfect First Impression

The initial impression your property makes can have a lasting impact. Enhance curb appeal by ensuring your garden is tidy, the lawn and berm are mown, and the front of the house is clean and inviting. Consider a fresh coat of paint for your front door and perhaps some new, modern exterior light fixtures to brighten up the entrance.

The interior of your home needs to be equally presentable. Ensure you declutter communal spaces, clean your home thoroughly and even consider Home Staging to ensure that the furnishings create a cohesive and inviting atmosphere. Staging your home can not only increase the property's appeal but potentially its selling price as well.

With the high volume of residential stock currently available, simply listing a property for sale without prioritising presentation will not be sufficient in attracting and retaining the interest of relevant buyers.

4. Upgrade Professional Photography, Videography and Floorplans

In this digital age, the first viewings happen online. At EVES, all our property listings receive professional photography. We recommend you consider adding upgrades to further elevate your listing online, such as a video, twilight photoshoot, floorplan or virtual tour.

Videos can lead to property listings receiving 5x the amount of engagement online, due to the immersive and dynamic way they can showcase your home. Twilight photos add a ‘wow’ factor to listings, offering intense, dramatic lighting in your photos to ensure your advertising placements stand out. Floorplans and virtual tours allow buyers to visualise the layout of your home. 93% of buyers say they are more likely to engage with a listing online if it includes a floorplan.

5. Market Smartly

Invest in a robust marketing campaign that includes a combination of traditional and digital marketing strategies. Additional advertising on social media platforms and upgraded website packages can ensure that your property not only makes a strong impact but remains front of mind for the duration of the campaign. At EVES, we provide customised marketing campaigns, to ensure that your home receives maximum exposure and is positioned in front of the right buyer audiences.

6. Host Open Homes and Private Viewings

Allow your salesperson to conduct open homes at your property and be accommodating with requests for private viewings. Providing buyers the opportunity to thoroughly inspect your home is crucial for ensuring that the ideal buyer can see and evaluate your property effectively.

7. Consider Market Feedback

Take the time to review and consider the feedback your salesperson relays to you from potential buyers. Be flexible and willing to make adjustments to the campaign strategy, whether it's tweaking the marketing or making small improvements to the property based on buyer feedback.

By implementing these strategies, you will not only make your property stand out in a busy market but also enhance your chances of a successful and profitable sale. At EVES, we understand selling your home is a significant undertaking and with the right approach you can achieve exceptional results and a timely sale. Ready to get started? Get in touch with one of our helpful salespeople.