Header Ad Module

Collapse

Announcement

Collapse
No announcement yet.

Best way to find top selling agents (for PPOR)?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Best way to find top selling agents (for PPOR)?

    We have gained about 40% in equity in 12 months and we really do not like our current property. Is there a way to find the top selling agents for your district? Also is there other things we should take into consideration outside sales figures?

    We have made 40% equity in 12 month, but sadly the property has had its issues, 99% neighbour ones. But having never bought into a similar situation, the positive I take is it is a learning experience. We know what we want from our next property.

    How do you mitigate being stuck without a property and losing potential equity? Are bridging loans the only answer in the current market? Given nobody is going to except a "when we sell our house" clause, or at least commit to that, is a bridging loan based on our equity the best option?

    We expect to go back from single to double relatively good 6 figure incomes, which will make a huge difference on payng off our remaining loans, but may also be a huge difference in what we can borrow. However, if we cannot secure a 5 year loan at below 3% then it is not worthwhile, where 2.5-3% means we can go bigger and climb the ladder without having much of a difference in repayments. Either way having $4k spare cash per week will mean what feels like a big mortgage now, can be paid of easily with 4-6 years.
    Last edited by OnTheMove; 15-02-2021, 05:58 PM.

  • #2
    I too would move on and take the gain. You would also gain the benefit of the stress loss re neighbour problems.
    Regarding best selling options we chose open auction and we were happy with our decision, thru Harcourts Gold.
    Sold in 3-weeks.

    Comment


    • #3
      Originally posted by erinak View Post
      I too would move on and take the gain. You would also gain the benefit of the stress loss re neighbor problems.
      Regarding best selling options we chose open auction and we were happy with our decision, thru Harcourts Gold.
      Sold in 3-weeks.
      Thanks for that. It does seem Auction is very popular. yes I think for the sake of enjoying your life, there is no point living in a property that makes you miserable.

      There seem to be a number of good agents around us, the one who sold it to us seems to have their name on most listings, however we didnt feel like they didnt much to try and sell us this house, I bought it as I new the vendor was over committed elsewhere, and whilst I didnt make a huge gain at purchase it was still ~15% below pervieved MV and $190k below RV.

      Now homes are selling WELL above the 2017 RV. One house is asking $500k above RV (ours is RVd $100k above theirs), it is a nice home no doubts there, but its on one of the more well used roads. Very nice house, although I prefer weatherboard and brick. No views.

      Anyway, only reference is a house that sold in October, for $210k above RV (again our RV is $100k above theirs). Im wondering what to price at, I have median sales data, but with Auctions its more about how many genuine buyers can the agent get haggling that price up. He also has no views at all, whilst ours are not great, you can clearly see the water and a national park. Its not a great comparison, but aside from an initial estimate from an agent, it gives me a minimum price I would accept.

      Do I just accept the agents pricing? Do I push them to list for more if I think MV can handle it? How many agents should I have appraise the property? (currently have 3 lined up)

      After that, there is a major infrastructure development here and any homes close will benefit, so Im looking for homes in a 4km zone from there.

      Comment


      • #4
        Look at ratemyagent.co.nz

        It lets you compare agents by number of properties sold and value of sales.

        Comment


        • #5
          You don't want the "top selling agent".
          Picking an agent based on number of sales is a stupid measure. Any idiot can sell 100 houses for $1 each. A good agent can sell one house for $100k more than the idiot.

          We once recorded our "top selling agent" doing an open home. She did not try to sell the house AT ALL. All she wanted to do was stand at the front door and latch on to everyone who turned up, and try and get the listing for their old house

          Comment


          • #6
            Quote:
            "Do I just accept the agents pricing? Do I push them to list for more if I think MV can handle it? How many agents should I have appraise the property? (currently have 3 lined up)."

            Unquote:
            We agreed on the minimum and got the Agent to make his own assessment. He was within our range but marginally under so we stuck with our asking price. Our first offer was from a private owner who was right on target but unfortunately two others made higher bids and so it started. We were blessed as the market pre-Xmas was bouyant and it sold for $25k above our expectations.

            We only asked 2 Agents based on on our assessments and Harcourts got our vote. Very thorough and kept up informed every step of the way. 3 open-home days over 3 weekends before it went to auction and sold. Bloody brilliant.

            Comment

            Working...
            X