Marketing Your Rural Property with Jock Hewitt
If achieving a very good sale result for your property is of major importance to you – then it follows that the choice of both the Real Estate Company and sales consultant used must of equal importance. All Real Estate companies are not the same. All sales consultants – in particular rural sales consultants, are far from the same. Commonly however, the choice of a company and a salesperson is a casual affair, lacking the judgement and consideration that this vital decision deserves.
Every rural property in Hawkes Bay , from a large sheep station down to a simple lifestyle, has its own special features and character. Of vital importance to a good sale is the ability of the real estate sales person to recognise every marketable aspect of the property and to creatively represent these to the widest possible pool of potential buyers. Many rural land agents of the traditional kind do a very adequate job in describing the agricultural features of the farm such as the stocking rate, fertiliser history, improvements, etc. While this type of advertising will probably attract the interest of local farmers, the prices achieved for properties sold in this manner are usually very average and predictable, usually measured in dollars per acre, dollars per stock unit or (in the case of orchards), dollars per planted hectare. If a premium price is sought, the sales consultant needs the ability and flair to create much wider interest in the property marketed.
There are potential cash buyers for every level, size and type of rural property. Clever and innovative marketing will attract buyers not only from the countryside, but also from every part of New Zealand and overseas. These are the buyers with the ability and potential to create the level of competition needed to achieve the best possible prices for any class of rural property. Your neighbor may well be the buyer who succeeds in purchasing your property – but without the visible competition of outside buyers there is little chance of him paying top dollar.
There is little difference in either principal or practice between achieving a top sale price for a property – or a top price for a pen of cattle at the local stock yard sale. One, two or three buyers around the pen of cattle usually results in low, or at best average prices. A crowded sale inevitably results in top prices, driven by the level of competition. To achieve the same level of competition for your property, your real estate sales person needs to create a marketing program that will attract the interest of the widest and largest possible pool of buyers from throughout New Zealand and overseas. To achieve this the marketing program needs to exite the interest of buyers with a major emphasis on the aesthetical, lifestyle and recreational aspects of the property and its surroundings.
The use of very high quality photography is one of a number of critical elements. Use of the internet is another. Good photography and creative internet advertising can be highly effective in widening the pool of buyers and so achieving a very good sale result. All real estate companies use internet advertising; however the quality of this advertising varies widely and very oftern leaves much to be desired. Before selecting a real-estate company and a sales consultant, it is important to have a careful look at the quality and effectiveness of the internet advertising used by that company and sales person when marketing other similar property.
If you are considering selling a rural property of farm, the first and perhaps best advice I can give you is this; don’t rush in. Ring a number of sales people from a number of different companies for an appraisal. Invite the agent to show you examples of the advertising programs – internet and news media, used to market similar property. You will want the agent to give you his appraisal of the current market value of your property. In doing so be very aware that it is not uncommon for some agents to over state the values with a view to impressing the vendor and so gaining the listing. Advertising a property at a price that is obviously inflated over the current market level, will only drive away prospective buyers who, with carefull handling by the sales agent, might very well otherwise have paid a top price. It is most important to obtain a realistic current market assessment and an honest, reputable and experienced rural real estate consultant will assist you in this respect. Never-the -less, an independent property valuation from a reputable registered rural valuer may also be a wise investment. Formal valuations from a registered valuer can often be a little conservative in nature but are a very sound starting point. From their valuation Department, Harvey Coxon Ltd have a full staff of qualified and experienced registered valuers, who are available for this service on request.
Filed under: Advice, Hawkes Bay, Investment, Moving to New Zealand, Selling
