Selling Tips

 

To get the most out of your Proppy experience you need to get in the know. We have crafted a raft of no-nonsense resources below which will provide you with everything you need to know about selling with us. From top tips to definitions of industry jargon and how to guides, we’ve got you covered.

Top 5 tips for selling your home online 


1.    Plan ahead. You need to allow about 4-6 weeks from the time you list your property through to sale day. If the timeframe between listing and sale day is too short, you won’t be giving potential buyers enough time to view it and carry out their due diligence, if the time is too long, buyers might get put off and find something else. We certainly don’t what that happening!


2.    First impressions count. For your open home viewings, you and your home need to be looking spick and span. Clear away the clutter, open the curtains, switch on the lights and turn on your sales charm.  Check out our tips for preparing for an open home. 


3.    Don’t act desperate. It is a great sign if a potential buyer is keen to do a deal prior to your auction date  - but don’t be over keen as you may just get a better price from someone else. Simply smile and say that you have arranged other open homes which need to be honoured, however, if they would like to make you an offer, you will happily consider it.


4.    Set a sensible reserve. Do your research, listen to the market and be sensible about what you really want for your house. A property is not for sale until it hits reserve. If the reserve is too high, you might price buyers out before they even get a chance to place a bid.  


5.    Tell everyone you are selling!  Don’t rely on the real estate marketing channels. Use social media or flick an email out to friends and families with the url of your listing telling them you have a property for sale, then ask them to forward it on/share it. The power of online communications is incredible.  
 

Join up

  • Join up and get started by looking around Proppy. Find out who we are, how Proppy works and most importantly find out what works for you.

  • If you get stuck, don’t forget to check out our FAQ’s or if you have a question chat with us online.

  • If you are keen to list your property with us we welcome you aboard!

  • First we need to verify who you are. Either a driver’s license or passport will do the job. If you're a non-NZ resident, you'll need a NZ solicitor to verify your identity.

  • At this stage, if you don’t have a solicitor it’s probably a good time to start thinking about getting one. If you’re a bit stuck and need some help, go to link to https://www.lawsociety.org.nz/about-nzls/law-society-services/find-a-lawyer.

  • Now a member of the Proppy family you will be given a “My Proppy” page which is your own secure dashboard of your listing. Once you have listed your property you can check in here to track the performance of your property, view questions and answers and keep your reports and important documents.

  • Ask for a free appraisal (Comparative Market Analysis) on your property – you will find this to be very useful!

Marketing 

Tell us what type of property you’re selling - residential or lifestyle. Commerical is coming soon.

  • List the property address, suburb and city

  • Disclose the CV/GV (if known)

  • Decide how you want to sell - online auction, online tender, negotiation or 'buy me now'

     

The next step is to cover off the property basics, just fill in the online form:

  1. List your property details, size, beds and baths etc.

  2. Then list your chattels. Please give details on each chattel so the buyer is informed of what they are getting with the purchase sale. 

  3. Choose your settlement date

  4. Pick whether you are GST registered or not

  5. Add your lawyers contact information 

  6. Complete your legal information around the house - who is the legal owner, tenancy, ground lease details, important information that the buyer will need to know. Remember it is important to disclose all information. 

  7. Upload your photographs if you are doing it yourself. If you have chosen professional photography Proppy will upload photos for you once they are ready

  8. Please enter an advertising headline for your listing. This is just a couple of words that sums up your place and will attract people to your listing. It will be used as the headline for your online advertising and the headline on your signboard and open home flyers.  To help you get started think of two words that describe your home – words like cosy, warm, sophisticated, modern, original, contemporary, elegant, inviting. Get creative!

  9. Write a "Property Description". Go on, give it a try, after all you know your place better than anyone… or any agent. If you get stuck, just ask us for help.  We’ve certainly had plenty of practice. Within the description you have the opportunity to welcome potential buyers to your home with a short personal description of your time there. Good things to include are details like how long you have lived there, what you have enjoyed about the area and why you are moving on.  This description will be used in your open home flyer and for your online advertising.

  10. Add your "Key Features". Here we are looking for six key features about your property.  These are the sort of features that potential buyers might have on their “must have” list when searching for a property e.g.; garaging, ensuite, north facing, 4 bedrooms. It is a good idea to detail the land and house area in sqm as part of these points.  These points will be used on the signboard, in the open home flyer and for your online listing.

  11. Add your "Selling Points". There will be some things that you really love about your property, and it is highly likely that others will fall in love with these too. Take some to think about the five key things you love about your home. It might be the short walk to the beach, the friendly neighbourhood or your large family living room. This content will be used to help market your property in the open home collateral and in the online advertising.

  12. Set your indicative price – Have a go, you can revisit this at any time when more information is provided.

  13. Choose a marketing package. We’ve carefully crafted three smart marketing packages to suit all budgets. There is no mark-up in this pricing, it is direct from the third party. Naturally our marketing predominantly supports the online marketplace, however if you want to add some traditional print to the mix we can certainly help you out.

  14.  Once that’s done, you can pay for your marketing package, or choose to pay later. Yay!

  15. You’ll need to read the REAA guidelines and then sign Proppy’s listing agreement, which outlines our terms and charges. But like everything at Proppy, it’s all digital, so it’s not in the least bit daunting, even the signing part.

  16. Time for us to roll up our sleeves and get the hard stuff underway. This means commissioning an independent valuation and building inspection report and finding the property titles. We’ll also produce a comparable market analysis (CMA) if you don’t already have one.

Promotion 

 

We’ll commission and schedule to photograph your property (if you've selected this package) and get the marketing jobs underway.

  • e.g. signage, brochures, digital listings, floor plans and 3D walkthrough so everything is ready to go as soon as your listing is published.
  • Set your open home dates and times. You choose when and what time, but don’t forget the market and when buyers are free to visit open homes. And please choose your dates and times carefully, because they can't be changed after the listing has been published.
  • Our turn again. As soon as your property’s listed on Proppy, we’ll swing back into marketing action and get your listing up onto the other marketing channels you’ve selected –TradeMe, Real Estate.co.nz etc. This’ll happen pretty quickly, as we'll have everything set up and ready to launch as soon as you hit publish.
  • Now it’s time to tune in regularly, as interest builds, see how many people are ‘watching’ and answer questions as they arise.

Open homes

Choose the best time of the day to show off your home to optimal effect.

You need to think about sun and light. Light and warmth in a living area, for example, is always advantageous because prospective buyers always want to know about north-facing living.

Always air the house a few hours before people arrive, to remove any cooking or pet odours. If you must use an air freshener do so, but never overdo it as people are often suspicious of artificial scents or can even be allergic to them. On the other hand, the smell of cut flowers or fresh coffee are positive aromas that can positively influence a prospective buyer’s impression of your home.  

Music – playing light classical or jazz in the background can also be another subtle, yet positive influence.

Half an hour before viewers start arriving, take a final look around – wipe all kitchen and bathroom surfaces and put away personal toiletries and check that all valuables have been securely locked away.

Draw back all curtains to let in as much light as possible and depending on the season, open windows and doors or turn on some form of heating to take the chill off the air if it’s cold. If you have a radiant gas fire, a flickering flame even at low heat will enhance the ambiance of any room.

Turn on lights even if it’s a bright day to illuminate the interior to its best advantage.

Another trick is to give all plants and trees, close to the house, a light sprinkle with a hose so the foliage looks fresh, shiny and healthy. This just adds another touch of sparkle to the overall presentation of your property.

And finally check that the entrances, back and front, are sparkling clean and free of any clutter.

Sell 

If you are selling by online auction then sit back and watch the bidding take place. Once your reserve has been reached your property will be on the market and you can sit back and watch bidders fight over your property. After the auction is complete the successful bidder will sign the sale and purchase agreement digitally and then you can also sign digitally to complete the sale process. Congratulations - you have just sold your property!

If a buyer meets your Buy Me Now price, Proppy will generate a Sale and Purchase agreement for the purchaser to sign. Once this is completed Proppy will email you a link so that you can complete the sale digitally.

Coming Soon:

If you’re selling by Negotiation, watch the offers come in online and agree or counter offer until you arrive at a successful price and conditions. Then sign the Sale and Purchase agreement.

If the sale is by Tender, wait until the agreed date then open your digital lockbox. Read the offers and choose one. Once you have accepted the tender price, Proppy will generate a Sale and Purchase agreement, which you’ll sign digitally.

Methods of Sale

Online Auction

An online auction is a method of selling to the person who bids the highest, the person who is prepared to pay the most! It is an open process whereby keen buyers bid against each other. Once the reserve price is reached, the highest bidder becomes the successful buyer.

Benefits are:
  • Sense of urgency: With an online auction you have a deadline date for when the property will be sold, so you have a finite selling period. This means those who are keen to bid on the property have to get themselves sorted if they want to bid.
  • Buyer competition: In an online auction situation you create real time competition - which can lead to a premium price
  • Certainty: There is real certainty when selling by online auction as potential buyers must bid on an unconditional basis. They need to have everything sorted, there is no scope for complicated conditions
  • Control: What vendors love about online auctions is the ability to control the reserve price and select a possession date that works for them.
  • No price limitations: When you market a property by online auction you don’t list a price so you are not setting an expectation with the market and in turn you can attract a wider range of buyers

Online Auction Rules​

  • You must refresh your screen to see active and current bids
  • It is suggested that you hold your online auction at least 5 weeks after signing a listing agreement. This will allow adequate marketing of your property. If you need to bring your online auction forward, please contact Proppy and they can do this for you
  • Open homes should be scheduled to start at least 7 days after your listing has been published to allow for marketing of your home
  • Auction is set to start 24 hours before the chosen finish time. For example, if an online auction is set for 8pm it will finish at 8pm 24 hours later
  • Proppy online auctions will not allow seller (vendor) bids. However, the seller sets the starting (opening) bid for their property
  • Bids – can be set at any number you wish. If you use the auto-bid functionality, bids will increase in increments of $500 until you reach your auto-bid limit
  • If you win an online auction you will be notified by email and are asked to sign the sale and purchase agreement online. Once the buyer has completed the sale and purchase agreement the seller will be asked to sign the sale and purchase online and the transaction is completed. Final copies of the documents are emailed to all parties
  • Please note that if you are bidding on an online auction you have signed the Proppy buyer’s agreement and are legally bound by the terms
If an online auction does not hit the reserve:
  • Proppy will email the seller and let them know that their reserve hasn't been met and will invite them to negotiate online with the highest bidder
  • Proppy will email the highest bidder and invite him/her to the price negotiation screen online
  • Online negotiation will be open for 2 hours only. It is recommended that sellers are online while the online auction is taking place
  • If either party (seller or buyer) cannot start within the 2-hour window after the online auction has finished, the online negotiation is void and the listing goes to a standard offline negotiation state through Proppy
  • When the buyer makes an offer, the sellers window will automatically update with the price and the seller will be able to accept or withdraw the offer by clicking on the appropriate button. If the seller clicks the accept button, then the deal is made. The system will then create the digital sale and purchase agreement for both the buyer and seller to sign online
  • If the seller is not happy with the offer, they can keep making a counter offer by typing in an alternative sale price
  • If either the buyer or seller clicks the withdraw button, the online negotiation finishes. The online communication is then stopped and neither party can make any more offers. The listing now enters normal negotiation state, where all buyers can make offers on the property through Proppy. The seller now has a chance to change their asking price 
  • If there are no bids, or the 2 hour, window doesn’t result in an agreement the online auction is terminated. The online auction turns directly into an offline negotiation state. The seller will be contacted by Proppy on next steps on how they would like to proceed - you are in control

Negotiation – Private Treaty

A negotiation selling method is when properties are advertised with a fixed price, a price band or with a price and the words ‘by negotiation’. Buyers are invited to make an offer on the property based on the prices advertised. From there the buyer and seller negotiate on an agreeable price.

Benefits are:

  • Buyers have the luxury of time to do their due diligence
  • Buyers can add conditions to the sale and purchase agreement. Sellers can agree to those terms or change them or choose not to.
  • The vendor has time to get contracts reviewed and to draft conditions
  • The vendor can choose to accept or reject an offer, giving them complete control over the process.

Buy Me Now

This is a unique proposition by Proppy. The owner sets the price, which is fixed and there is no room to negotiate. The terms and conditions of the sale are similarly fixed and non-negotiable.  Like an online auction, a 'Buy it now' offer is unconditional and legally binding. This method works best for investors and people who want to sell in a hurry and for buyers who don't want to negotiate, think the property is a great price and are happy with the terms.

Benefits are:

  • A seller can market and hopefully generate the price they are asking for immediately
  • This method is particularly good for people wanting a quick sale with no mucking around waiting for Tenders to come in, negotiating with multiple parties or setting reserves at online auctions.
  • In this busy world we live in, people are busy and they just want to set and forget their price.
  • It is a method of sale that may attract savvy owners that know exactly how much they think their property is worth/ families trying to sell after a death or health issue in the family /marriage breakups/ or vendors in financial hardship that want a sale quickly may like this method).
  • From our Proppy research of buyers, buyers do like to see a price. A property with a price may attract buyers that possibly could be put off by an Auction or Tender situation.
  • Developers also enjoy this method as they may have many properties they want to sell at one time with a distinctive price
  • Some sellers find other methods cumbersome and stressful. This method can take a little stress out of the situation.
  • The method delivers only unconditional offers and signing is digitally conducted

Tender

This is the secretive selling method whereby a vendor asks for written offers to be presented by a certain date. Any prospective buyers need to submit their “best” written offer to a digital lock box for the owner to then review and consider.  It is a very confidential process and there is no reserve price. When selling by tender the prospective buyer needs to complete, sign and submit their sale and purchase agreement when they present their written offer. Because you are signing a legal document it is a good idea to get your lawyer to check it before you submit your offer.

Benefits are:

  • Sense of urgency: Because you have a deadline date of sale with a tender situation there is a finite selling period which creates a sense of urgency for anyone interested in making an offer.
  • Buyer competition: A tender is about putting your best price forward, as there is no room for negotiation. As a result, it creates the conditions for customer competition - which can lead to a premium price.
  • Confidentiality: The result of a tender is private and confidential. Proppy uses state of the art technology which includes the use of a digital lock box. No one has access to the offers until the deadline. This allows for better security and anonymity.
  • Time to consider: As a vendor you have a five working day irrevocable period in which to decide which offer to accept. This can be important if you need to chat amongst others parties to make your decision.
  • Flexibility: A tender allows the vendor to be more flexible with the terms and conditions of the sale e.g. You choose the possession date
  • No price limitations: When you market a property by Tender you don’t list a price so you are not setting an expectation with the market and in turn you can attract a wider range of buyers

 Are there properties that particularly suit sale by tender?

While any property can be sold by tender, it is particularly suitable for:

  • Properties where a number of parties must be consulted, for example, properties owned by a family trust or deceased estate.
  • Properties where potential customers would expect to have to do due diligence before submitting an offer, for example, properties with strong development potential.

SOLD

  • When the Sale and Purchase Agreement is unconditional, the finalised document will be sent to you, the buyer and your solicitor.
  • Then your solicitor swings into action, to handle the conveyancing side of the purchase.
  • Job done. Couldn't be easier.