Daily Archives: May 27, 2010

Breaking News Australia to finally get a National Search Portal

May 27th, 2010

Maybe they should be so lucky….but hey you know what…….here in NZ we already are.

Coming from the “lucky country” tonight, comes this Real Estate Industry news, that various industry forces across the ditch have (and not before time I might suggest) realized the importance that a consensus of news/data/other stuff, forwarded regularly from an amalgamated industry recognised body, could in fact….engender and further, grow credibility.

Greg Vincent, AREC 2010 visitors may recognise the name, is breaking the news tonight that…….no no not the State of Origin results……he is saying that there is about to be some equilibrium soon return to the Australian Real Estate industry.

He’s telling readers of his regular newsletters in his latest post that after talking with Enzo Raimondo, CEO of REIV and Petra Sprekos – GM of realestateview.com.au, that the Ozzie RE industry is pounced to finally roll-out a national industry based portal……….similar to ……..hmmmm……NZ?

Hmmm ….we’ll have to wait til 2/06/2010 at the big Sydney Opera House event for the official announcement……but from the way Greg tells it……and frankly he should know……it does sounds promising.

As Greg reports….WA and VIC seemed to be amongst those that really have their act together. And the other Australian states……

For today lets pretend I’m a reporter here. Best case scenario I can paint is like this.………….here in NZ in 2010 we have two major & dominant Real Estate portals……

1) realestate.co.nz

and then…..

2) trademe.co.nz

Did you notice something there? That the NZ Real Estate Industries portal is the logical first search choice for Kiwi property buyers.

Where do I go to make a general search when I want to buy a property in NZ. Obviously first choice is www.realestate.co.nz. In Australia its realestate.com.au or domain, both private players.

Of course you can go to any other place to search you want, because like everywhere on the net no one can dictate where you point your mouse & click, but the Real Estate industry of New Zealand is committed to provide a site with the amalgamated largest collection of properties in NZ, so why wouldn’t you go here first? So therefore with a combined effort across the ditch – why wouldn’t any Ozzie go to their national portal 1st also?

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Should I Auction or Tender this Property

At a listing presentation I’m sure many sellers are listening intently to what is transpiring. However with the different methods available like Auction, Tender, Fixed Price, or other no price options, then, for some sellers, certainly those that have lived in the family home for a generation or two, it can be a stressful and confusing time.

And as we all know the most interesting time to attract those buyers is when it’s a New Listing, so its crucial to get this commencement step as right as possible.
I’ve heard of presentations where agents haven’t even completely their homework to ask the seller if they have previously been through the home selling process and what their thoughts were of that experience.
No….I’ve been relayed tales of salespeople, and sometimes whole agencies, preferring or recommending one method over another…..and in some cases looking at it with a “Nelsonians eye.”
Now don’t get me wrong a buyer needs the input of a professional salesperson, but its always interesting if you’re the last person to present……. that Agency A recommended no price marketing, agency B recommended an Auction and I offered, for example an “offers over” price.

Sites like sorted.co.nz have popped up in recent years to help buyers / sellers with unbiased advice on major decisions in their lives, and there is no doubt that the selling of a property qualifies under that heading.

Australian Weekly Auction Clearance Rates - click for full size

Australian Weekly Auction Clearance Rates - click for full size

Therefore it’s a pity that here in New Zealand that we don’t have charts the equivalent of RPDatas’ Weekly Auction Clearance Rates. These would surely aid a sellers decision process about “choice of sale” methods don’t you think? And certainly come out tops on any sort of “transparency” scale too.

Earlier I mentioned the crucialness of ensuring that the New Listing process of “going to market” is well thought out and planned, and the method of sale selected correctly.
If you get it wrong here, then the downside is usually a lower price than you could have achieved.

However if you have got to the stage where you are either changing the method of sale, as in Auction -> Fixed Price now, or are changing the Market Price, then just like the New Listing stage it has to be shouted from the rooftops.

Weekly Price Down Updates

Weekly Price Down Updates

That’s why this Weekly “Price Down” booklet from the UK’s largest Real Estate portal, Rightmove, is in my eyes, another brilliant tool that we should have here in New Zealand.

Don’t forget that many people write off a property at the first occasion when they see, for example, the price, because its over their budget.

Then in successive weeks whilst casting their eyes over the For Sale adds, they are often recognizing that same property advert, and therefore again dismissing it, by the photo. (note to agents: another good reason here you must change photos regularly)

Therein is the issue, they may never even notice that the property has reduced in price to a figure that should now interest them.

Would this be helpful in NZ?

Would this be helpful in NZ?

Yes I admit I haven’t exactly answered the question that my headline asked, but overall would these tools be useful buyer or seller aids here in New Zealand to assist in ultimately making that choice of Sale Method?

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