Tag Archives: Christchurch

The power of effective marketing

Achieving another outstanding result under the hammer in our auction rooms clearly confirms why we continue to recommend auction as best practice for sellers of ‘as is, where is’ properties. The results speak for themselves.

Check out the facts on our most recent auction:

Address:                                            65 Perth Street. Richmond
Days on the market:                        9
Purchaser inspections:                   28
Number of pre-auction offers       2
Bidders in attendance:                   6 (2 active)
Private offer prior to listing           $170,000
Final selling price at auction     $271,000

Team Griff’s as is, where is, under the hammer strike rate year to date: 100%

The reality is there are many “astute” property opportunists active in the greater marketplace hunting for that next bargain. A homeowner who fails to engage in an effective marketing campaign to flush out multiple purchasers can become vulnerable prey for this calibre of purchaser. Such purchasers are governed by their own perception of value, plus their motivation to maximise profits. It goes without saying that they have very little regard for a sellers’ interests.

With 306 ‘as is, where is’ sales under our belt now it would be fair to say we understand this market. Accomplishing results like the above is the most satisfying aspect of the process. Seeing people moving forward with their lives and in most instances realising a greater selling price than expected makes it a very positive experience.

With spring on the horizon, we look forward to creating many more magic results for our clients prior to the end of the year. If your intention is to get sold before the year’s end, we suggest you contact us sooner rather than later. ‘As is’ buyers are hesitant to hold properties over the Christmas/New Year period due to labour shortages, so it’s best to get the ball rolling now.

Creating the win-win

Win WinAchieving clients’ ultimate goals with the least time and inconvenience is a frequent request from both buyers and sellers. Very often both purchasers and home owners talk to us well in advance, briefing us of their real estate plans and aspirations for their forthcoming sale and/or purchase.

Here at Team Griff, given that work and live locally we are often in the know of that forthcoming property likely to fit a specific purchaser’s criteria. Frequently we assist in matching people and property even before a property is officially launched to the market.

Following a thorough appraisal of market value, some homeowners feel sufficiently informed to decide on a “happy to sell at” figure and prefer the option of selling without all the fanfare of a comprehensive marketing campaign.

This is often the case with uninsured ‘as is, where is’ property sales. Given that we have a large portfolio of recently appraised properties and an even larger 1900-strong database of prospective ‘as is, where is’ purchasers, connecting buyer with seller for a hassle-free off-market sale is a regular occurrence. Year to date 13.5% of our sales have been transacted on this basis.

While we regard it best practise to engage in a full marketing campaign to ensure maximum exposure and a better selection of purchasers, if a no hassle, low-pressure, ‘nothing ventured, nothing gained’ sale is appealing to you, do give us a call or flick us a quick email or text. Remember, it our job to create that win-win of bringing buyer and seller together!

The client experience

Client Experience

What comes first, the commission or the client?

We would all like to think that it is the client’s interests that takes priority, particularly when people are transacting real estate, there is only one thing in mind – seeing the mission accomplished of moving from A to B.

Being mindful of this throughout the selling process is paramount for us as sales professionals and it goes without saying that if this focus is lost, without question the client’s ultimate goal and quality of service is compromised.

Recently it was incredibly humbling to be awarded 1st place for Harcourts Canterbury’s Client Experience Award. For this to be endorsed by our very own clients makes it even more special. To our loyal clients – thank you. That endorsement makes the effort and long hours so worthwhile.

To my team, this award would not be possible alone. Your support both in the field and behind the scenes is what makes this possible. Creating memorable client experiences takes true teamwork.

For me personally, in the twilight of my real estate career that will span 30 years next year, this would have to be the absolute pinnacle and there is no better accolade I would wish to lay claim to – it’s simply amazing and the ultimate in job satisfaction.

This is the absolute reason why we do this every day! Thank you.

Demand for ‘as is, where is’ properties remains strong

As Is Update(3)

Backing onto a strong start to the “ as is” market Team Griff’s 100% auction strike-rate year to date reflects both a strength of this active market for 2018 and the team’s proven marketing expertise.
Underpinning this 100% strike rate is multiple party participation, with an average 4-5 bidders participating in each auction.

Providing our homeowners with a selection of active bidders on auction day is directly attributable to our 1800+ strong database of known ‘as is, where is’ purchasers gleaned from a long track record of sales of uninsured properties dating back to 2012. This translates to competition with the real benefit of not having to rely on one person’s perception of value, as is invariably the case with an “off the street” type sale.

As the supply of uninsured homes on the open market now begins to decrease, we foresee the demand remaining strong, reflecting the inevitable fact that there is a finite supply of these properties.

Whether you are contemplating to sell your ‘as is, where is’ property or simply need a sounding board to bounce options off, please feel free to contact us in confidence – we’re ready to assist.

 

Recent success stories

45 Medway Street, Richmond

45 Medway Street, Richmond
3 beds, 1 bath, 1 living, 1 garage
Declared reserve $110,000
Days on market: 14
Number of inspections: 30
PropertyFiles downloads: 47
Bidders: 5
Sale price: $155,000

1
529 Bower Avenue, Parklands
4 beds, 2 bath, 2 living, 2 garage
Days on market: 21
Number of inspections: 56
PropertyFiles downloads: 32
Bidders: 7
Sale price: $397,000

591 Madras Sunny-5


591 Madras Street, St Albans
4 beds, 2 bath, 1 living, 2 garage
Days on market: 7
Number of inspections: 21
Bidders: 3
Sale price: $365,000

From Rags to Riches…

Rags to Riches

Talk about both ends of the property spectrum! Team Griff have just sold an earthquake-damaged flat in Waltham for $86,500 and a stunning architectural build in Waitikiri for a street record in excess of $1.3m – two Christchurch suburbs that are like chalk and cheese.

In both cases, assisting our owners to move forward with their lives for differing reasons is what makes this business so positively enjoyable. This sort of job satisfaction is hard to beat.

At Team Griff we pride ourselves with such versatility, having the skillset, systems and experience required to service a broad cross-section of both clientele and property.

For the cheapie in Waltham, it was a case of mucking in, digging deep into our 1,800 strong ‘as is, where is’ database of potential purchasers, not being too proud to do the hard yards of selling something that was rather undesirable. On the flipside, the $1.3m sale was one of my old neighbours simply touching base giving the heads up that they were intending to sell within the next twelve months. As it worked out we were working with a purchaser whose brief fitted the property perfectly – the rest being history. Needless to say, the owners were overjoyed with the result, let alone the convenience of not having to go to the open market with all the fanfare and intrusion of a full marketing campaign.

So whether your property is in the “rags” or “riches” basket (or somewhere in between) be sure to make contact, as there is a good chance we will be able to perform our magic for your situation and property too.

Why the New Year is a great time to sell

Blog Header

Deciding when to sell is an important discussion most homeowners engage in prior to selling. Rating the new year market as a premium time to sell, Team Griff are already taking listings in preparation to hit the ground running in early 2018. Experience has taught us the new year market provides homeowners some real benefits when it comes to selling.

Here’s Team Griff’s key 8 reasons why to sell in the new year:

  1. Less immediate competition
  2. Time to prepare now ahead of a new year launch
  3. Purchasers are refreshed and enthusiastic in the new year
  4. Most of your pending competition are still relaxing on holiday
  5. It’s summer; the gardens look great and buyers are in a better mindset
  6. It’s an easier time to plan, plus it bodes well with new year job relocations
  7. With longer daylight hours there’s more flexibility to best showcase your home
  8. Simply push go now – we’ll do the preparation while you are enjoying family festivities

So if you thinking about selling be sure to touch base now to meet and “set sail” for a new year plan tailored to meet you specific criteria.

We are not the team if you want the cheapest commission, but do call us if you want experience, local knowledge and a team of experienced negotiators you can trust to get the very best possible result – our point of difference and your best saving! Let’s not forget the Harcourts machine and brand that has the reputation of premium selling prices.

When experience counts, whether it’s your earthquake-damaged home or your palace we have the bases covered. We’ll tailor a plan best suited for your circumstances, you, and your home!

Contact us today to discuss your plans on 0274 330 445 or info@teamgriff.co.nz.

How the general election impacts the property market

Election Property Market

The hoardings are up (with a few to still to be updated), the door knockers are out in force, and our newsfeeds are flooded with stories detailing the latest resignations and policy announcements – election season is well and truly underway.

Policies and personalities aside, we’re often asked by clients how an upcoming election is likely to affect the property market, particularly sellers who ask whether it’s better to hold off until it’s over or simply to push on through with getting their property on to the market. The conventional wisdom is that markets do not respond well to uncertainty, and given recent developments, the election’s outcome is anything but certain. On the other hand, I’m yet to meet a buyer who has said that they’re going to forego a purchasing opportunity simply because they do not know the makeup of the next government.

While it’s easy for us to rely on anecdotal evidence and the vibe of the market, thankfully we have access to a considerable body of data from REINZ dating back to 1992. Back in 2014, real estate commentator Alistair Helm at Properazzi came up with a seasonable comparison. It uses the three preceding months leading up to each general election date and calculates the representation those months were of the total sales for that year. He then compares that % representation as a single figure against the normal for the same 3 months of the year based on a larger set of preceding data going back to 1992, as follows:

Election Year Sales Graph

Helm comments:

You could say that on average general elections depress property sales as 5 of the 8 elections caused property sales to decline as compared to normal. However there is no real consistency. The completely and significant opposing variance in the results for 1993 and 1996 are too significant to ignore.

Our friends at Bayleys have also analysed the data dating back to 2000:

Our analysis indicates that the majority of those choosing the ‘wait and see’ approach around election dates are property investors, as it is this section which is more likely to be impacted by changes in government policy.

The decision by owner occupiers looking to enter the market or move home tends to be driven by changes in personal circumstances, such as marriage, divorce, having a family, changing jobs, retiring etc. Once these circumstances are in play, the decision to purchase a new home is unlikely to be delayed solely because they coincide with the date of an election.

While there are signs that the Christchurch property market is cooling, this cannot be solely attributed to the election. The post-quake residential construction boom has boosted supply, while LVR restrictions are dampening demand, resulting in fairly modest price growth. The great thing is that a steady market empowers buyers and sellers to make informed decisions with confidence.

7 Reasons To Sell in Winter

Selling in winter

With another steady month of sales, and July traditionally being one of my stronger selling months, I thought it was worthwhile to share the virtues of selling in winter. Interestingly, during the recent storm our open homes were busier on the Saturday during the thick of the storm than the Sunday when the sun was shining. I guess buyers were thinking it was a great time to see how they performed.

1. Less competition
Traditionally homeowners hunker down in winter and then all decide to sell in spring. It makes so much sense to sell when everybody else isn’t.

2. Like it in winter, love it in summer
Buyers like to see your property in the worst conditions. If they like it now they will love it over the warmer months.

3. High and dry
What else need I say after this winter and with recent flooding buyers can see for themselves just how your home has fared – both inside and out.

4. Heating and insulation go hand in hand
Winter will test the quality of your insulation and heating system. Practically showing how these key components function in winter will inspire confidence with prospective purchasers. A well-insulated home maintains ambient heat.

5. Time to show off
if your home is warm, sunny and dry, winter is the great time to tell the world about it. Sun shining right into a living area will convince so much better than a 1,000 words spoken.

6. Ventilation
A breathing home is a healthy home. Crying windows is huge put off to prospective purchasers. If you don’t have a ventilation system, we suggest you at least air your home regularly.

7. Appeal to the senses
Baking, coffee and hot soup, the ultimate feel goods on a winter’s day! Time to sharpen those baking skills, and there is probably no better way to impress the crowds than fresh baking greeting you at the door.

Over the years I have found that winter is actually a good time to sell, and here at Team Griff we would rate the winter market a close second to that of the new year market. Selling in winter also sets you up well to purchase in the spring, when there are traditionally more homes on the market. So, if you are considering the merits of selling, why not contact us now – you too could be pleasantly surprised with a great result.

‘As Is, Where Is’ Market Update

Live Update- As Is Where Is Market (2)25 Foresters Crescent | Parklands
Inspections: 32
Bidders: 6
Sale price: $365,000 at auction
Vendor feedback:
“Good result today with the sale and appreciated the regular communication; a job well done.”

3 Kakariki Lane | Sumner/Clifton
Inspections: 
35
Bidders: 
3
Sale price:
$515,000 at auction
Vendor feedback:
“While it would be fair to say that ours was not the easiest of properties to sell Team Griff took on the challenge professionally, dug deep and produced several bidders on auction day. The result, a sale price that we were quite happy with.” 

‘As Is, Where Is’ current market comment

Numbers through open homes are still holding up and while some are feeling the brunt of lending institutions both tightening their belts and lending criteria, our owners are still benefiting from multiple parties bidding on the day. The large majority continuing to be sold under the hammer. Team Griff’s sizeable purchaser database of 1500+ “as is” purchasers is proving invaluable when it comes to getting these properties across the line in a firming market. To date with 246 sales under our belt home owners looking to sell can rest assured that they have an experienced team at the ready.
To have the peace of mind that your property has been fully exposed to the wider open market in order to achieve the best possible result.

Do contact us today for friendly chat and to explore the options available to you.
Keep warm,
Griff Signature Jpeg version

Yet another exciting Parklands community development

Pukeko Centre

In addition to the impending relocation of Avonside Girls’ and Shirley Boy’s to the former QEII site, as well as the construction of the Eastern Sports and Recreation Centre, it’s exciting to read about the next new project in our backyard.

The Pūkeko Centre is an exciting new community-led development in the heart of Parklands. The multi-use sports and recreation hub on the site of the Parklands Bowling Club will provide indoor and outdoor facilities for a range of local clubs, groups and organisations. Stage 1 of the development is due to be completed in late 2017.

It involves the relocation of two buildings from the former Freeville School – the Modern Learning Studio and the School Hall – onto the Parklands Bowling Club site in Chadbury Street.

These two ideally suited and good quality buildings were previously earmarked for demolition but have generously been made available to us by the Ministry of Education.  We are thrilled to be able to put them to good use for the benefit of the wider Parklands community!

The completed centre will provide a range of options for indoor and outdoor recreation and social activity including shared clubrooms, meeting rooms, catering facilities, hall, ample parking, bowling greens and all-weather courts for netball, futsal and tennis.

Nearly seven years after the earthquakes, it’s heart-warming to see this grass-roots effort come to fruition. The idea of re-purposing modern buildings from the former Freeville School is to be commended. It’s yet another example of Christchurch’s resilient recovery!