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When selling your apartment, did you know there are more than just commission costs? We know, at Apartment Specialists, that, at the end of the day, you want to know how much you’ll be getting in your back pocket when your apartment has sold. You might be surprised to know that you may even get money back. We’ll help you to get a broader picture of what these other expenses are, understand ALL the costs when selling your apartment,  so you can take them into account.

SUMMARY:

The knowledge of what costs you will incur during the process of selling is so important and it is more than just the agent’s commission.

The costs involved are more than just the commission. There are several others involved but don’t let that deter your choice to sell.

Marketing costs generally are around $600 when a property is selling for under a million and around $2300 for property over and above that price.

Lawyer’s fees can range from anywhere between $800 and $1000 for a property with no mortgage and up towards $1300 for a property with a mortgage. Where there is a sale that is more complicated for example a building that may need more due diligence due to building issues these lawyers’ fees may be upwards to $2000.

Lastly, a cost that is overseen when your property is tenanted during the decision of sale being made, your tenants may leave before settlement date leaving you with no income for several weeks. This is where you need to ensure you are prepared for this and/or bring the settlement date forward if able to.

And the good news; you may sometimes be eligible for money back. If you have covered your Body Corporate fees for the year and sell part way through the year you will receive the overpaid amount back upon settlement. Rates are the same deal and will be reimbursed if any are overpaid.

?find apartment actually worth

What is the difference being a specialist for you, an apartment owner looking to sell? With thousands of apartments in the Auckland CBD and surrounding suburbs and at least 100-150 apartments selling every month, you need the right information so you can make the best decisions for you.

Apartment specialists looks at the value of apartments, not just in your building, but of those in the surrounding buildings as well. The apartment market moves all the time and we make sure we’re aware of it when valuing your apartment.

In this video you’ll see a real estate agent missed out on $61,000 because there were sales occurring at the time that didn’t show up on the sales statistics.

SUMMARY:

My apartment worth is found out by speaking to a specialist. At Apartment Specialists we know our market well and can give you a well-informed, educated and up to date value on your property.

There are over 26,500 apartments in the Auckland CBD and fringes and around 395 buildings which will become up to 450 in the coming years. Each month there are 100 to 150 sales of apartments.

We know this by understanding our market well. This is done by constantly keeping up to date and being in the know. It is not just about being an agent but about being a specialist in the market.

We look at apartments that are the same, these are usually in the same building and look at other buildings that are similar to help us gauge the real market value of your property. Calculating size, carparks, level and so on are all important factors to consider when valuing a property as well as record prices in the building and recent sales in both your building and other that are alike.

By being well informed, we can help you make the best decision that works for you and selling your property.

Depending on size, area and cost of rent will determine the type of tenant your apartment will attract. Read on in the bio for more information, alternatively check out the blog. Apartment Specialists can help you with any further questions.

Summary:

Different apartments will attract different tenants and this is an important factor to consider when choosing an apartment to rent out.

At Apartment Specialists we can assist you making this decision. We know our buildings well and what types of people they attract. So whether you are looking for long term tenants, students, times when the property may be vacant to use for other purposes or some other reason, are all important factors to consider before purchasing an apartment.

Damage is caused more often in smaller apartment with a lower rent as well as higher turnover in tenancy rates.

University students will only want to rent the duration of the study year.

Having apartments closer to amenities i.e. supermarkets, bus stops and so on may be more attractive for tenants to pay more in rent.

Bigger and more upmarket apartment usually attract a different type of clientele where there is less likely to be damage and more likely to have long term tenancies.

TRANSCRIPTION:

Andrew Murray here from the Apartment Specialists talking about how different apartments attract different types of tenants. And how that is actually very, very important when you’re looking at buying an apartment.

Now, a lot of people might be thinking “Okay, I’m going to be an owner occupier. Well that doesn’t matter to me, because I’m not going to be renting it.” What actually it’s just as important, if not more important, because you’re actually predicting who your neighbours are going to be.

You don’t want to be having students next door, for example. So basically, when looking at an apartment you can get an idea of what kind of people are living in that complex, and some of the reasons why this is so important is because that different types of tenants will give you different kinds of, I suppose, either issues or advantages.

For example, vacancy rights. You have, for example, got a building that is very oriental or came from Asia. Often you have huge vacancy rates over November, December, and January period. Because a lot of them come for international education and they come for University, or I suppose, the language schools. Afterwards they go back home to see their families. So it’s often very hard to rent those apartments in that, sort of, December-January period, which means your apartment can be left vacant for long periods.

Another one, for example, is tenants not paying their rent. If you’re in a complex say, that has 300, 400 apartments and say they’re, for example, below 40 square meters, two bedrooms, they’re generally going to be the tenants that are, generally, going to be the male demographic. More likely they’re going to have issues with money or simply just skip out and leave damage and unpaid rent with them.

Now, nothing is damaged, obviously, if you’ve got an upper class tenant. They’re less likely to damage the apartment and do as much wear and tear, because people who are, say for example, executive tenants, will look after their place better because they have to take back clients, or whatever.

The other one is length of tenancy. So, a tenant that’s in there for two or three years is ideal. One that’s constantly changing means you’ve got to constantly be improving the apartment. You’ve got to be changing things, maintenance, have advertising, have pads which are vacant one or two weeks.

If you’ve got a large apartment that suits a family in a good location, then there is an example of one that is ideal compared to say students, which are only going to be there for the length of the university year.

Another one is rent fluctuation, and this is not so much I suppose a type of tenant, but the location is really important. If it’s right next to university, or if it’s right next to the CBD.

For example, right on Queen Street, you’re not going to have as many issues because we all know there’s more apartments being built. And with more apartments there’s more supply, but if the location of the complex you’re buying into is very central to whatever purpose it’s next to, you’re going to be in a very good position to always charge the highest rents, and have the least amount of vacancy.

I hope that helps and it enables you to think when you’re looking at an apartment, it’s not just about what the rent that comes in and the expenses that go out. It’s about the clientele, or the people, I suppose the tenants, that will be providing that income. If your apartment is left vacant for a month or six weeks, well that takes the return down and the value of your apartment down hugely. Hope that helps, Andrew Murray, Apartment Specialists.

If you have any questions, flick me an email at andrew@apartmentspecialists.co.nz or call +6421 424 892 and I’ll be happy to help you with your queries.

Cheers.


Apartment Specialists Podcast No: 157

Summary:

Is it possible to get some great deals from private sales? What are the steps you need to take when buying an apartment privately? Find out great insights from this podcast, as the apartment specialist points out important facts about private listings. Get full details from the video.

Buying an Apartment Privately

I have seen some great deals achieved by purchasers from private sales especially in the apartment market because owners rely on sales statistics which are so often wrong or not up with the market.

But something happened to me the other day and yes I hate to admit it but I got caught out.

You see private sales aren’t covered by most of the Fair Trading Act and often they may know something and shall we say ‘play dumb’.

Now this happened to me about a year ago, when I went to buy an apartment in a private sale.

I saw a two bedroom in an apartment complex that was  a steal.  I knew the building, I rang the body corporate checked everything out and it went into a multi-offer.

I went in unconditional.

My offer wasn’t the highest but they accepted it.

So even the experts can get caught out.

In this case, it was on residential rates, being rented out residentially. BUT it was actually commercial under the council.

Now cut a long story short, it cost me $20,000 and about 100 hours of my time to sort it; to get resource consent with numerous modification needed.

So when buying privately remember, they don’t have a license to lose; or a governing body that you can seek damages from; and a real estate agent, if they know anything detrimental about the building or apartment they have to disclose it.

If they don’t, they can lose there job and there is no commission. I don’t care how much it is worth doing that for.

So good luck out there. But remember that when selling privately, everything may not be what it seems as there can be hidden facts or knowledge.

What do you need to know about buying an apartment privately? How do you get the best deals? Download our Buyers Guide to get much sought after insights. You can also email andrew@apartmentspecialists.co.nz or call +6421 424 892 to get the best Auckland apartment expert to help you.

TRANSCRIPTION:

Good day, Andrew Murray here from Apartment Specialist and I’ll be talking about buying an apartment privately. I’ve seen some great deals come up in the market, and this is because owners who are selling their apartments privately, don’t have a lot of sales statistics. We all know that sales statistics, especially in a moving market, are not very transparent. The open apartment market is probably one of the most untransparent markets around.

When it comes to residential property, and it’s because one building may have moved with the market where the other one hasn’t yet, often, private sellers will come on at a price that’s a lot cheaper. In other cases, they might be more expensive, but I’ve seen a lot of great deals achieved through buying privately. I would still look at these listings when they come up.

What happened was – as I like to jump so many new hoops, I have to go through resource consent. Everything had changed since then in regards to all the rules and regulations around bedrooms. It’s about $20,000 later and probably about 100 hours of my time, and I end up getting it to a residential. So, at the end of the day, the deal wasn’t worth it. And I wish I’d never done it.

The key thing here is, when buying through a private listing or a private seller. You need to check if they are not actually covered by the Fair Trading Act. So, they sort of play dumb, in a way. The interesting part is I found out that my offer wasn’t the highest offer. It was the unconditional one, and so I’m assuming – I can’t, obviously, point fingers. I don’t have any solid proof, but their lawyer advised them to take the unconditional offer, even though mine was much less. And why? Because if you actually sifted through all of the documents and went really deep – this is where much lawyers don’t even go to, and you’d find this issue that I came across.

The big thing with private sellers is – they can kind of do what they want to a degree and you can’t rely on them. Where purchasing through a real estate agent, there’s no commission, and I don’t care how big it is. Is it worth losing your license over? You’ve got a governing body which you can complain to. So the thing is, yes, there are some deals out there that are private sellers, but make sure you do your due diligence even more thoroughly than you normally would.

Also, be aware that a private seller can be selling because they know of information which is not known or not in the minutes yet and can be quite dangerous. Where a real estate agent is far more likely to notice this. If they specialise in apartments, then they know the market and the buildings. They often hear about stuff coming out before it actually does come out.

I had to announce how to buy an apartment privately. Cheers. Bye!

What do you need to know about buying an apartment privately? How do you get the best deals? Download our Buyers Guide to get much sought after insights. You can also email andrew@apartmentspecialists.co.nz or call +6421 424 892 to get the best Auckland apartment expert to help you.

Apartment Specialists Podcast No: 137

Summary:

This podcast will show you the various areas in Auckland C.B.D. and the best places to invest in. It will also provide ideas and insights on what areas are suitable for different types of apartment buyers. Get all the details from this video.

TRANSCRIPTION:

Good day, Andrew Murray here from the Apartment Specialists. Auckland C.B.D. is becoming a great place to live in. But like any other area or suburb there are the good parts, and there is the parts that are more suitable for different purposes. What I have done is the map of the Auckland C.B.D. in front of you and I’ve highlighted different areas that are suitable for different purposes.

If we start out with the ‘T’ in the very middle; this is where your best owner occupy stock. This is where the best owner occupy stock is, and this is where your Metropolis is. Also, this is where your Quay West is. This is where your Precinct building is and your CityLife – your Heritage.

The reason for this is you have got your central hub. This is where the power of New Zealand is. In this area you have got your top law firms and top accountancy firms, all that kind of thing. Obviously, Shortland Street is a key street there. Coming down to Queen Street you have got your retail and your cultural district. In this area you have got everything at your fingertips. You have got three supermarkets, shopping malls, Britomart in front, so this is a great place right for owner-occupiers.

What is the actual best place to live? If we forget about being freehold, because obviously this ‘T’ junction here is all freehold land. That would be the Viaduct Basin and you have got Princes Wharf and parts of your Ngati Whatua land. This is all leasehold land, so this is purely a lifestyle decision and it is a great place. You have got your walks, restaurants, very high end apartments with great views and are very spacious.

Then you have got your University district and University land. The Auckland University right here and Auckland University of Technology which is another University here as well which actually has a lot of, I suppose, it has the university campuses which have students who are living on site. You will also see this blue area here where, this light blue are complexes that have very small units, and have been built specifically for the student demographic. So, it’s about student life and their apartments are as small as nine square meters for one bedrooms, which is extremely small and two bedrooms; 30/35 square meters.

You have got this little black area here, and this is where a lot of box apartments are being built by investors. That’s where investors buy for return and It’s probably about 90/95 percent of this whole area is investor. It’s not owned by the person who is in the apartment and it is rented out. This is something that’s not going to be encouraged moving into the future.

What is really exciting is all these areas I have not marked? You have got K Road and Victoria Quarter, which is exciting because it is yet to blossom. If you are going to use that word. It is about what the Council does here and is this going to become more commercial? What’s going to be put here? It all comes down to – the future looks really bright, because the Council is starting to really look after the future of Auckland. As we can see, what they have already done with Wynyard Quarter and Britomart.

You also have the area that I have included here, which is your other end of Victoria Park. It is where you got some great complexes and I see as being part of the C.B.D., because it is on the other side of Victoria Park. This is your bone rock quarter, quite a few apartments here and a great owner-occupier area. Obviously, the majority of all of this around here is all your new fringes, where you have got scattered apartment complexes, which are also very popular.

As you can see, there is also dots here. There is red dots, black dots, blue dots here, and it is indicating that this is not a rule of thumb. In this ‘T’ junction you got a few student apartment complexes in this area here, which is closer to your shoe box apartments. Some great owner-occupier complexes. It’s not a rule of thumb, but it’s a general theme that within this lovely City of ours, it is like little suburbs where there are different parts of the City that suit different purposes.

I hope that educates you a bit on apartment life for Auckland and talk soon.

Cheers.

Apartment Specialists Podcast No: 124

Summary:

What is more expensive? Is it owning and maintaining a house or owning and maintaining an apartment? This podcast shows you the difference between the two properties and gives you an insight why ownership and maintenance of one is more expensive than the other. Watch this video to get more details.

TRANSCRIPTION:

Did you know that the cost to run an apartment as to the cost to run a house is much, much less. It costs so much more to run a house vs apartment. Not just in what you have to pay but because of the timing you spend maintaining a house. For example, owning apartments and all you have to do is to pay the body corporate fees. You would also pay the power and water as well as to make sure that’s  tidy inside of your apartment.

Now when you think about a house. I have to take the rubbish out on a particular day. Now, that used to do my head in and I always forget. Also, I need to sweep the driveway. My dad always made me do that. Cleaning out the gutters and it is just endless stuff. Mowing the lawn and doing the garden. Making sure the house is clean and painting the house every 10 or so years. I also need to take care of the roof and plumbing.

What people do not realize is that they think that the body corporate fee is the a cost for owning an apartment. It is actually a really efficient way of you having to do nothing because if you think about it, how many hours would you spend a year looking after your home? At an hourly rate, what would that be? Would you not much rather be enjoying yourself? Free time with friends and family and all that kind of thing.

Not only does an apartment save a lot of time in traffic because of location, but also so much in maintenance. I think people really need to realise that a body corporate fee is actually a positive rather than a negative, because it takes out so many costs. There is less accounting and so much less stuff to do.

Anyway, I hope that helps you just have a little bit of a different perception on body corporate fees and I hope that helps. Anyway, if you have any questions, andrew@apartmentspecialists.co.nz.

Cheers.

Apartment Specialists Podcast No: 107

Summary:

What is an IEP Report and how important is it?  If you’re an apartment owner or buyer then you should know the earthquake rating of a building before you make any decision. Get the facts about the IEP Report from this podcast.

TRANSCRIPTION:

What is an IEP report, and what is an earthquake rating?

Basically, they are the same thing. Good day, it is Andrew Murray here from Apartment Specialists, talking about earthquake ratings. Something that’s very prominent at the moment regarding character buildings, and because of what happened down in Christchurch. An IEP rating, which is called as you can see here, I’ve got one in front of us, which is an Initial Evaluation Procedure. Hence IEP, which is what comes out as a figure, gives you a percentage of what iscalled a New Building Standard.

An IEP rating comes out with a percentage, which is compared against what the standard of a new building that is built today, in regards to earthquakes. For example, if it comes out at 75%, let us say in a building that was built 50 years ago, there is 75%, but it’s 75% as strong as a new building that was built today.

I said I would show you one. This one was done by Fraser Thomas Engineers. It was done for a heritage building built in 1917 – The Regency. Obviously done here, which is the Initial Evaluation Procedure, IEP, and they go through and they actually come in and look at how the building was built.

The first IEPs  or earthquake ratings are just done off the plans, which are done by the council, which is my brush stroke approach. If you feel that your building has got a higher structural rating than what a council thinks, you can get an external IEP rating by an engineer. That is when they look in more closely, and then often what happens is, that’ll often increase – it could decrease, depending what has been done to the building. In this case increase, so they look at the buildings and they give you a history of the building. What it was built out of, when it was done, for what.

In this case, because it was built in 1917, it had various things done to it. It went from a warehouse office space, then an extension on the top, then it was turned into apartments in 1994. When it comes to an IEP rating, Initial Evaluation Procedure that comes out with an earthquake rating, it is really talking about two things: What they call longitude, which is what happens with the movement up and down, and what they call traverse, which is the movement side to side.

What is the rating? What will happen in an earthquake, if the earthquake movement was up and down, what is that rating? Against if the building was built today. What is the rating if the earthquake’s moving from side to side? Then each one will have a percentage, and then what happens is, they’ll take the lower of the two. And that will be the IEP rating, which is Initial Evaluation Procedure, or what we call the earthquake rating.

If you look down here, so it goes through a lot of stuff, that really you have got to be an engineer to really get into. I can explain some of it, but a lot of it is sort of probably beyond my expertise. Then it comes down to, we have actually come down to the IEP rating. What they have done here, is I think it might be a bit of a typo, but you can see here, you have got the longitude. Which is the up and down, coming at 54, and then the traverse, which is the side to side strength, is 72%. Now take the lower of the two, and it is 55 – I think it is supposed to be 54 there, because generally that’s what they take there. But anyway, you get my drift. That is what they come and look at. They look at the IEP, and they got the lower of the two of movements – this way and that way, and that gives you your IEP rating or earthquake procedure rating.

At the moment, the law is at 33% is the cut off. If you come in at 33 or lower, you are going to have to strengthen your apartment within 15 years. If it is a character apartment, you can have 25. That means you have to be 34% or higher to pass. In different parts of the country, that is higher – Wellington and Christchurch, etc. I have got, from very good sources within the council, that it is not going to be changing in Auckland.

I cannot promise that 100%, but to give you an idea, every single percent that goes up – that’s 33%. If it goes to 34%, on average, they estimate it to be about $700 million dollars that it’s going to cost the country. I’ve spoken to structural engineers, and they are basically telling me they are 100% sure it is not going to change. Obviously, I cannot say that, because I’m not a structural engineer. But that’s what I’ve heard from the industry, which is great news because I actually own character apartments myself.

Anyway, I hope this helps you understand a little bit more about IEP and earthquake ratings. Obviously flick me an email, andrew@apartmentspecialists.co.nz, or off the website, and I’ll talk to you soon.

Cheers, bye.

best time sell auckland apartment

Apartment Specialists Podcast No: 33

Summary:

Apartment Specialists provides you with list of information that will help you figure out the best time to sell your Auckland apartment.

TRANSCRIPTION:

Andrew Murray,  Apartment Specialists. Today we are talking about a question I get asked every single day – I know I have said it quite a few times – but this is one  every apartment owner always asks, “Is now a good time to sell my apartment?”

There are quite a few answers to that question. I know it seems like a very straight forward one. But they are actually – it is not that straight forward. Because at the end of the day it is actually what is best for you being the owner. Now, there is my personal opinion on what is going to happen in the apartment market – and there is what is best for you.

These two things are completely different. For example, the best thing for you may be to sell your apartment right now because you need the money to do other things. To go on a holiday; it may be a family situation; it may be to put the money somewhere else where it is going to make more money. There are so many different situations though. In that regard, it is irrelevant to what I think is going to happen in the market. Because you are selling because it is the best thing for you.

My job is to give you all the information you need to help figure out what is best. I.e. should you auction your apartment? Should you list it with a price? How should you do it? Should you dress it? How should you market your property? Should you sell it?

If there is a window of six months. Should you sell it now? Should you sell it in six months? If it is a hotel lease, should you wait until you get it out of the pool? Or should you keep it in the pool? All these kind of questions.

Then there is a second question: Should I sell my apartment now? Now that is where I say – Okay, if it was my apartment, and there was none of these other factors, that is when it is very different.

My personal opinion is that there is still more in this market to go. We are still always moving but the thing is – the apartment market is a very different one. It is one that actually does not hit you hard on the back of the housing market. It rides on supply and demand. If there is a lot of apartments available, the price goes down. It is all about the developments.

As you know, the developers are selling off the plans again – which means there is going to be new apartments coming to the market. They are not there yet. They have not been bought yet. I know they are being planned to be built. So I would not sell now. I will probably wait a while. Wait until you start seeing the cranes in the sky. Then I would assess the situation. And then look at – okay, maybe it is time to accept. Or maybe you want a lot – you want to talk long, long, long term.

It all depends on the purpose of your purchase. If it is just for income and you do not care about capital gain then it does not matter. Unless if it’s going to affect he rental situation for example; if you have all of a sudden, had a flood in your apartment, well that could lower the rent. It is a big, big question that cannot really be answered in general terms. That is something that is very specific to the particular person’s situation, the particular person’s goal with their investment, and the particular person’s apartment.

For example, there could be a development going on in front, in a couple of years it could lose its view. That would be advantageous if capital gain was the sole reason for you to sell now. The answer is – I cannot give you an answer. But it all comes down to you being a specific owner, and me giving you the information to help you figure out what is best for you, and you making that decision. Lovely. Cool.

Next week, we will talk about – you are going to sell your apartment, but you have got tenants. How are they going to be affected? Are they going to be affected? Will they move out? It is something that is a concern of most people when they are going to sell – what do they do with tenants. I will cover that very briefly and then how we look at it.

Cheers.

RELATED POSTS:

Myth #4: Urgent Sales Require Underselling Your Auckland Apartment
Myth #7: Auckland Apartment Sellers Have No Way of Getting Out of a Sole Agency Agreement 

auckland apartment valuation

Apartment Specialists Podcast No: 31

Summary:

Andrew Murray talks about the process of Auckland apartment valuation and factors affecting such valuation.

TRANSCRIPTION:

Andrew Murray, Apartment Specialists, the Auckland apartment market. How are Auckland apartments valued?

Now, it’s done by square meters. Yet how do  you compare apples with oranges? For example, as all apartments are different – different apartment buildings. For example,there’s about 300 unit titles in the Auckland area and between 250 and 300 buildings in the Auckland CBD. Now each one of those buildings is similar to another building. And you can probably group all these apartment buildings into probably about 10 or 12 different categories depending on quality. If they’ve got issues, if they don’t. Are they leased out – are they Maori leasehold, are they Ports of Auckland leasehold. Are they character? Are they high end? Are they owner-occupier? Are they students? That kind of thing.

So what a valuer does is look for sales of similar apartments. Not just in the building of the apartment, but on ones of similar buildings. So a character apartment – they will look at ones with similar sizes and similar quality on another character apartment where they will use those sales. They will maybe use three, four, five, six different buildings. They now find those sales, and they will divide the sale price, taking away the car park value which is generally between $50,000 and $60,000. And they will divide that price by the square meterage. And each sale will bring a figure. So it can be 5000 per square meter or 5.68, or 6.5 for example. Then they will take the apartment that they are valuing and measure the apartment and times that square meterage by that value.

So let us say they find five sales that are very comparable in the same building, and in different buildings. Then they will take that square meterage values and average it out. And then apply that to the apartment they are valuing. And then times it by the area in square meterage. And it gives them a reasonably accurate figure they can rely on. So that’s how a valuer values apartments.

There are few complications here. For example, when you’ve got a deck. A deck can make a difference to a value of an apartment. But it can also mean that the actual area is smaller because banks only value – or valuers only value on the actual square area – not counting the deck. The deck, they value at a lower rate, often $2000 or $3000 per square meter.

So there is obviously a lot of gray areas in valuations. And the hard thing with valuers is, they have to look backwards. They are looking at what has happened previously. So if you are in a moving market – whether that’s up or down – they are looking backwards. They are looking at sales that have occurred in the past.

So, often evaluation would not be able to give you the up to date value of the apartment. It will be giving it to maybe a month or two months or three, four, five months behind.

And that is what’s really difficult and really frustrating for me because a lot of my deals will fall over because of a valuation. Because that valuer can’t value today’s prices because they have to look in the past to come up with a value.

Yeah, hope that gives you a little bit of insight on square meterage and finding comparable sales not just in the building but in comparable buildings.

Okay, next week  I am going to talk to you about how to rent your apartment privately if you do not want to go through a rental agent.

Okay, cool. Cheers.

how to use a feature ad to sell your auckland apartment

Apartment Specialists Podcast No: 30

Summary:

Third on the series of questions of owners on “How Do I Sell My Apartments?” – aside from professional photography and putting the apartment in the best light possible, you’ve got to use feature ad. How important is it and How to Use a Feature Ad to Sell Your Auckland Apartment is a matter that we will dwell on thoroughly in this podcast.

TRANSCRIPTION:

Hi I’m Andrew Murray, Apartment Specialists. The third part and the question I get asked all the time is  “How do I sell my apartment?” Online presence, as I say it each time, is so important to sell your Auckland apartment. So, A. You’ve got to have professional photography; B. The professional photography has to be putting the apartment in the best light; and C. You got to have a feature ad. Now what I mean by that is you pay another $69 on Trade Me. And now that is virtually nothing. And it means that when your apartment is searched for – after those first couple of weeks when it is further down to list – it comes up a lot higher.  So it is an absolute must.

It is kind of like – if you don’t have a feature ad – your apartment is going straight to video. As in it is not in the cinemas. No one really knows about it. And the common saying in real estate is that you can’t sell a secret. So I will go straight to the point. What I’ve done is, I have actually got two apartments here that are in the same building. Very similar but one is slightly superior to the other. The slightly superior one is already under contract and it’s gone unconditional – I just put it up on Trade Me just purely to show this. And you will see what I mean.

So we’ve got the first one. It is bigger than most. And you can see both. If you look through – both professional photography, both the same complexes – but one is a feature and one is not. So let’s go back to the first one. The photos look great. Now this is a tenanted apartment which you’re seeing. We did a lot of work with the tenants and they let us come in. Look around their things. All that kind of thing in order to stage the apartment, it came up great. I won’t go through all the photos and bore you. Anyway, let’s go to the other one. They were basically put up right after each other so exactly the same time, yesterday morning. Let me look at this one. You see this is a superior one, looking fantastic. This one has got a view.

I prefer this one to the other one. Now, this is the one that is actually already sold. Look at it. Let’s look at the views on them both. First one, 374 views. Still very good probably because of the presentation of the photos and it looks really good. Now, second one, 1122. That just says it all. If Trade Me charge $600 to make a feature ad, I would still recommend it purely on those numbers as it’s huge. Thank you for listening to this.

Now I hope you understand how important your online presence is. There’s a lot more factors that go into it, but these are the basic three things. Professional photography of the Auckland apartment in its best light, and it being a feature ad. Thank you.

Cheers!