Trade Me Property is usually the 'Go To' website in New Zealand for Kiwis searching to buy a house or section. Trade Me Property ha...
Trade Me Property is usually the 'Go To' website in New Zealand for Kiwis searching to buy a house or section. Trade Me Property has a major advantage for house buyers over many other property websites, because both real estate agencies and private sellers can advertise properties on it. This means that Trade Me Property will usually have most houses and sections that are currently on the market in New Zealand, making it a good place for buyers to search for properties all in the one place. We have a good Trade Me Property Tip below which should help buyers get the most out of the Trade Me Property website, when searching for property to buy.
One of the big problems home buyers face when searching for houses or sections on any NZ property website, is that they may not have any idea of what sort of monetary figure the seller is looking at selling the property for. Many houses and sections are advertised without any price indication at all. Often agents won't give potential buyers any indicative of price, especially if it is being sold by tender, deadline sale or auction. However when searching through property listings on Trade Me Property, there is a way to get a basic ballpark figure of what the selling agent or private house seller possibly expects the property could possibly sell for. No one wants to overpay for a house, so having as much pricing information as possible is essential for any NZ home buyer.
This Trademe Property tip exists because when someone lists a property on Trade Me Property, they are required to input an 'Expected Sale Price' as part of the listing process. The property listing page states that this figure is used for 'searches' but this amount is hidden to potential buyers. So the amount is not openly displayed with the property listing. However sometimes the listing may have this expected sale price set to a lower figure than they genuinely expect it to sell for, so that the property appears in searches with lower value properties, so you must take the expected sale price figure with a massive grain of salt.
The only time a price will actually appear on a property listing, is if the seller specifically enters in a price, eg Buyer enquiry over, the property is being sold for a set price etc.
But even if the price is not listed, or it is being sold as an auction, tender or negotiation, there is still a way for potential buyers to find out the 'Expected Sale Price' which the seller has inputted into their listing. The way to do this is relatively simple, and many people may already know this little trick. But we were surprised at how many people weren't aware of it until we showed them. Some first home buyers for example who are new to the property market may not be aware of this little trick.
TUTORIAL: How to find the 'Expected Sale Price' figure inputted into a property listing on Trade Me Property
First load the Trade Me Property homepage at www.trademe.co.nz/property/ , or via the Trade Me Property App.
Go to the search box and enter the location where the property you are interested is located. You should include a reasonably large sized geographical area for this to work the best. Then click SEARCH.
This will then load the results page as shown below. Next SORT the results by PRICE. We have used 'Sort: Highest Price' which orders the properties by highest to lowest price. But this tip will work with either highest to lowest, or lowest to highest orderings.
This will then order the properties in the order of the 'Expected Sale Price' which the seller of the property has entered into their property listing.
Next scroll through the listings and pages until you have located the property you are looking for, which should look something like below without any price indication. In this case, the property is being sold by 'Deadline Sale', but in your case the property may be getting sold by Negotiation, Tender, Auction etc, without any price indication.
Next scroll both up and down from the property listing until you find the first property above and below your property that is listed with a price next to it.
You should now have two listings showing a price, and these are hopefully a similar or the same price as each other.
In our example below, there is just a $5000 price difference. Therefore the property that we are interested in has likely had the 'expected sale price' entered as somewhere between $845,000 to $850,000.
The tip is most accurate when you have a reasonably high number of properties in the search result. In our example we had over 400 properties in the search results, so it gave quite an accurate figure. If the difference between the expected sale price of the property above and below your listing is significant, you should increase the search area and repeat the above steps. You can increase the search area in the maps section, or making sure the search includes all the suburbs in a city.
This tip only gives you a crude ball park figure of what the person listing the property may expect the property to sell for. So it may not be accurate, especially if the person listing the property has put in a lower 'expected sale price' than they really expect the property to sell for, in the hope that it will gain more buyer interest and appear in searches with lower priced properties. So you should always take any 'expected sale price' figure with a massive grain of salt, and that it may not represent the true expected sale price. There are also quite a few NZ House Value Estimate Websites that can help to give an understanding of what properties are going for in the area. We have a list of these NZ House Value Estimate Websites here.
If you want to really know what a property is worth, you should seek professional advice. You can also get a professional registered valuation done on the property . You should also look at what other properties in the area have sold for that are similar. Buyers can never do too much research when buying a home.