When I Would Tell a North Shore Owner Not to Sell Yet

When I Would Tell a North Shore Owner Not to Sell Yet

Real estate agents make their living when properties sell.

So you might reasonably assume that if you ask an agent whether you should put your home on the market, the answer will always be yes.

I don't think it should be.

Sometimes selling now is absolutely the right decision.

Sometimes it isn't.

If someone asks me for advice, I think my responsibility is to consider their circumstances first, rather than simply looking for the next listing.

Here are some of the situations where I might tell a North Shore homeowner that waiting deserves serious consideration.

When you don't actually need to sell

Occasionally a homeowner begins thinking about selling because they've seen a neighbour sell well, received a real-estate flyer or become curious about their home's value.

There's nothing wrong with exploring the idea.

But curiosity and necessity are very different things.

If you're happy in the home, it still meets your needs and there is no strong financial or personal reason to move, selling simply because “the market seems active” may not make sense.

That doesn't mean never sell.

It may simply mean understand your options before making a decision.

When the next move doesn't stack up

Your home's sale price is only half of the equation.

What will you buy next?

Someone might achieve an excellent result selling in Browns Bay, only to discover the property they want in Murrays Bay, Long Bay or another part of Auckland has risen just as strongly.

Before deciding to sell, I think it's worth looking at the entire move:

What could you sell for?

What is the likely cost of the next property?

What are the transaction and moving costs?

Does the change improve your position enough to justify it?

Sometimes it does.

Sometimes staying put for another year or two is perfectly sensible.

When a relatively small improvement could materially improve the property

I'm not an advocate for renovating simply for the sake of selling.

But there are situations where a property is very close to being considerably more appealing.

Perhaps exterior maintenance is nearly complete.

Maybe an unfinished consent or CCC issue is being resolved.

Perhaps a few weeks of repairs, decluttering, landscaping or painting would allow the property to present substantially better.

In that situation I may suggest completing the work first, provided the cost and delay are justified.

The objective is not perfection.

It is avoiding a situation where buyers focus unnecessarily on an issue you could reasonably have dealt with before launch.

When your timing is unnecessarily restrictive

Every seller has circumstances to work around.

But occasionally the timing requested creates avoidable difficulties.

Perhaps you need a highly unusual settlement date.

Perhaps you're about to leave the country and won't be available during an important part of the campaign.

Perhaps major works are taking place next door and will finish shortly.

That doesn't necessarily prevent a sale, but if waiting a few weeks dramatically improves the selling environment, it deserves discussion.

When expectations and the market are too far apart

An appraisal should realistically reflect current market conditions and be supported by relevant comparable sales. That isn't just good practice; it is part of the professional obligations applying to New Zealand real-estate licensees.

Sometimes the evidence points to a likely market range that is simply below what a homeowner is prepared to accept.

If there is no need to sell, I would rather have that conversation before the property is launched.

Listing a home at an expectation the current market is unlikely to support can result in a lengthy campaign, frustration and the property becoming stale.

Waiting isn't always the solution because markets can move in either direction.

But if your required figure and current evidence are substantially apart, the options deserve an honest discussion.

When the decision is being made emotionally

Selling a home can happen during difficult periods.

Relationship changes, family disputes, bereavement, financial pressure or frustration with the property can create a desire to “just get rid of it”.

Sometimes selling is still necessary.

But when there is a genuine ability to wait, I think major property decisions deserve enough time for people to understand the consequences.

A home is usually one of the largest financial assets someone owns.

The decision deserves more than a bad Tuesday afternoon.

When another solution may solve the problem

Sometimes the underlying reason for selling isn't actually the house.

It may be:

• needing another bedroom

• wanting more usable outdoor space

• difficulty maintaining the property

• mortgage pressure

• wanting family closer

• considering investment options

Occasionally an alteration, refinance, change in living arrangement or different financial strategy may address the underlying issue without requiring a sale.

Those aren't areas where I pretend to be a financial adviser or builder.

But I'm perfectly comfortable saying:

“Before you put the property on the market, perhaps talk to the appropriate professional about this option.”

A listing isn't useful if it isn't the right solution.

There is no perfect market

I would also be cautious about waiting simply because someone believes they can perfectly predict the top of the property cycle.

Nobody can.

Markets respond to interest rates, credit availability, supply, buyer confidence, employment, population movement and dozens of other factors.

Selling decisions are often better made around your circumstances and your alternatives than trying to pick the perfect week in the market.

An appraisal doesn't mean you have to sell

This is probably the most important point.

Having your property appraised does not commit you to anything.

Sometimes the most useful outcome of an appraisal is:

“You're actually in a good position. There is no urgency. Let's revisit this later.”

If that is genuinely what I believe, I am comfortable saying it.

I would much rather someone contact me again in twelve months because the advice was useful than list a property today that they ultimately regret selling.

Thinking about your next move?

If you're considering selling a North Shore property but aren't sure whether the timing is right, I'm happy to talk through the property, the current market and the options available.

Sometimes the answer will be to move ahead.

Sometimes the answer may be to wait.

Either way, the conversation should start with what makes sense for you.