Questions

How does mike pero real estate price your home?

Our role is to provide you with accurate information and an indication of what we believe your property is worth in the propety market. One of our agents would view your property and then generate a Comparative Market Analysis (CMA). This value incorporates recent sales in your area, takes into consideration all relevant information supplied on your property, and assumes that your property will be marketed well, presented in the best possible light with good time frames and that we have a willing buyer and a willing seller either reached through advertising or within our REX Database System.

Our approach is price it right first time.  A quick sale is a good sale.  Often the first offer you get can be the best.  Either way we want the best result for you so be assured we’ll listen to you and work with you.

If you would like an indication of the value of your property then please Click Here and we'll arrange for one of our team to give you a FREE, no obligation, market appraisal.


How can Mike Pero Henderson attract buyers to your property?

YOU and a Mike Pero Salesperson would work together to develop a marketing campaign that would attract as many potential buyers as possible. Methods include:

  • Internet: Many potential buyers are attracted to homes through free advertising via the internet. Our listings feature on TradeMe (where 80% of potential buyers are generated from), realestate.co.nz, sella.co.nz, open2view.co.nz, on Hou Garden, MikePero.com and of course Mike Pero Henderson’s webpage.
  • Newspaper Advertising: at Mike Pero Henderson we predominantly advertise our listings in Western Homes and the Chinese Property Press, which generates many potential buyers.
  • Signage: Mike Pero Real Estate signs are constructed professionally from an aluminum composite material. They are unique in many respects and stand out to gain maximum attention to your home. Options include a 1.8 m 3d sign or a picture signboard.
    - 37% of all sales are influenced by "For Sale" signs.
    - 67% likelihood a will come from a buyer within 5km radius.
  • Free TV Advertising: Exclusive to Mike Pero Real Estate all listings have a 15 second add that features on TV either during The Breakfast Show on TV1 or the TV3 Late Night News.
    Click Here for more information.
  • Much more…

 


What is my role as a home owner when selling a property?

No one has a more important role in the home selling process than you. Positive first impressions are critical to maximise the value of your property in potential buyers eyes. Any flaws in the property will encourage buyers to deduct value off the asking price.

Here are some ways you can contribute to a successful sale:

  • Freshen up the ‘Street View’ of your property
  • Maintain the gardens
  • Ensure the house is clean and tidy
  • Fixup any little repairs needed
  • Ensure the property is easily accessible for viewings
  • Secure pets
  • Remove or lock up valuables
  • Decultter the house

Communication is a large contributor to the successful sale of your property also. Mike Pero Real Estate agents are here to work for you, to listen to you, and to help with any questions or concerns during the selling process and will be in contact on a regular basis to keep you up to date.

 


Why is it important to declutter an open house?

Decluttering involves removing personal items as much as possible prior to open homes, in order to help the buyer imagine themselves living in the property. A first impression often lasts and excessive belongings can make a home seem smaller, darker and less airy than it really is. Modern homes and decor tastes also tend to lean towards a more sparse presentation, while too much clutter can leave buyers with the sense that finding storage space might be problematic.


AUCTION FAQs

VEndors:

Should I sell my property by Auction?

Auctions can be seen as the best way to sell quickly or achieve a higher price, as the auction process creates a sense of urgency and a feeling of competition between potential buyers.

This may or may not be the case and will depend on the property market at the time, how many similar properties are available to potential buyers and how desirable your own property is. Be aware that an auction does not guarantee that someone will offer to buy your property.


What is a Reserve Price?

The Reserve Price is set by the vendor usually on the day of Auction. The salesperson or people are unaware of the reserve price, the only people aware are the vendor and auctioneer. If the reserve price is reached during auction the vendor must accept the offer in writing on Auction day. This set reserve price cannot be changed once a bid is received at the reserve


What happens at the auction?

Once bidding passes the reserve price, the property is sold to the highest bidder. You will not have the opportunity to negotiate further with that person. You therefore need to think carefully and realistically about the reserve price.

If the bidding does not reach the reserve price, the auctioneer will pause the auction and ask you for further instructions. At that stage you can do a number of things:

  • If bidding has come close to, but not reached the reserve price, the auctioneer may suggest that you agree that the property be put on the market. This means that the reserve price no longer applies, you are willing to accept the highest bid that is made when the auctioneer resumes, and the last bidder before the auction was paused will be held to his/her bid. This approach may result in an immediate sale, but it carries a risk – once you have removed the reserve price and declared the property on the market, you must accept the highest bid, even if that is below your reserve price. You cannot negotiate on subsequent bids.
  • You can tell the auctioneer that the property is to be passed in. This means that the auctioneer will tell the bidders that the auction is concluded, as the reserve price has not been reached. The auctioneer will usually make an attempt to generate further bids before closing the auction.
  • If the property is passed in, you can negotiate with the person who made the highest bid, but you should be aware that the offer may not be an unconditional one. This negotiation will continue, through your agent, after the auction has closed. You do not have to accept any offer that is made during the subsequent negotiation, and if you cannot negotiate a price and conditions that are acceptable to you, you can discuss with your agent other options for marketing your property

What happens at the auction?

Once bidding passes the reserve price, the property is sold to the highest bidder. You will not have the opportunity to negotiate further with that person. You therefore need to think carefully and realistically about the reserve price.

If the bidding does not reach the reserve price, the auctioneer will pause the auction and ask you for further instructions. At that stage you can do a number of things:

  • If bidding has come close to, but not reached the reserve price, the auctioneer may suggest that you agree that the property be put on the market. This means that the reserve price no longer applies, you are willing to accept the highest bid that is made when the auctioneer resumes, and the last bidder before the auction was paused will be held to his/her bid. This approach may result in an immediate sale, but it carries a risk – once you have removed the reserve price and declared the property on the market, you must accept the highest bid, even if that is below your reserve price. You cannot negotiate on subsequent bids.
  • You can tell the auctioneer that the property is to be passed in. This means that the auctioneer will tell the bidders that the auction is concluded, as the reserve price has not been reached. The auctioneer will usually make an attempt to generate further bids before closing the auction.
  • If the property is passed in, you can negotiate with the person who made the highest bid, but you should be aware that the offer may not be an unconditional one. This negotiation will continue, through your agent, after the auction has closed. You do not have to accept any offer that is made during the subsequent negotiation, and if you cannot negotiate a price and conditions that are acceptable to you, you can discuss with your agent other options for marketing your property

BUYERs:

What do I need to do before an auction?

If you are going to bid for a property at auction, you need to be prepared in advance. Remember, if you are the successful bidder at an auction, you are immediately committed to buy the property. You will not have the opportunity to take any legal advice, check aspects of the property, arrange a mortgage, or negotiate terms and conditions once the auction is finished.

Prior to the auction, you can inspect the property either by appointment or by attending an open home. The agent should provide you with a copy of the terms and Contract of Sale, which will set out what chattels are included with the property, and details such as the amount of deposit to be paid by the successful bidder and when the balance of the payment is to be made.

You may want to arrange a valuation of the property, a building inspection or obtain a Land Information Memorandum (LIM) report. You will also want to get your lawyer to check the title of the property and the Contract of Sale. You need to arrange any finance required in advance. If you are the successful bidder on the day, you will have to pay a deposit immediately and sign the Contract of Sale.


What is the process of making a pre-auction offer?

  1. For this process to proceed the vendor must have provided in writing that they will consider offers prior to the auction, the marketing must contain the words “Unless sold prior” and the terms and conditions of the auction must clearly state that pre auction offers are permitted.
  2. The Auctioneer will be contacted first and only written and signed offers will be considered.
  3. The offer must be prepared on the standard agreement for the sale of Real Estate by Auction with no conditional clauses inserted in the interests of the purchaser. It must be a cash unconditional offer with the below condition inserted.
  4. “ This offer is conditional upon and subject to the vendor herein not receiving an increased offer or bid at auction, such auction to be held no later than 7:00pm on 2nd working day from date of acceptance from the vendor.”
  5. If the offer is not at an acceptable level for the vendor, no counter-offer is made. It is merely communicated to the purchaser that at this time, the offer is not at an acceptable level to the client(s).
  1. The purchaser is free to make an increased offer.
  1. If the offer is at an acceptable level to the vendor the vendor(s) will sign the auction agreement. You will be notified that the offer is accepted subject to the vendor herein not selling for a higher sum at auction. All other registered buyers will be contacted and advised that a Pre-Auction Unconditional offer has been made which is acceptable to the client(s).
  1. The level of your offer is only ever communicated to our vendor and is not disclosed to any other party, other than at any subsequent auction.
  1. The auction will be brought forward, it will be called prior to 7:00pm on the second working day from the date the vendor accepted the offer.
  2. Should the auction be brought forward, the time and place will be communicated to all interested parties.
  1. The auction will be opened and only bids above the existing accepted offer will be accepted by the auctioneer. There will be no “Vendor or Auctioneer bids” as the property is on the market at the level of the announced bid. Other interested parties can then place their bids as per a normal auction. If there are no other bids, the property is sold at the acceptable offer already made.