This is a classic question of real estate answered differently according to the perspective from which you approach this - an agent or a private seller. However regardless of opinion the core fact is real estate is not a scientific process for which objective evaluation can be assessed - it is a skill based process which is all about optimising the potential at a given time - worth considering if you are about to buy or sell a property
Trade Me Property has just added a boundary view to property listings - good! ... however it is long overdue that we saw some innovation from these property portals, additionally I am concerned that access to such data may be more difficult given the merger of the two leading players in the market last year
I feel that this is an opinion article long overdue, something I have talked about for many years and never written. Just why is that we have witnessed the transformation of so many businesses and industries over the past decade or more as a consequence of the digital revolution and yet real estate continues in the same old fashion of 20 or 40 years ago?
This is an interesting insight I have concluded from analysing property data from the last 5 years. As we start to see a softening in sales volumes the key question as an extrapolation of the data is whether we will start to see a divergence with inflated asking prices?
Whilst not a recent innovation their use in real estate is at best sporadic, in my view largely as a function of the lack of strategic thinking by real estate companies and print media. I do however think is better described as a technology looking for a solution
I recently sat down with David Hargreaves of Interest.co.nz to talk through the trends in the property market as well as to discuss these going on between agents and Trade Me
As a buyer in the Hawkes Bay particularly you may have noticed a decline i new listing by agents and a rise in new private sales listings - how would you interpret this I wonder - could this be agents hurting their prospects of future business as much as the hurt they are causing their existing clients?
I regularly contribute to Squirrel Mortgages - here is a collection of recent articles covering the decision as to what type of house to buy and amusingly what not to say to a real estate agent when you are the prospective buyer
Residential property sales have reached what appears to be a plateau at around 80,000 a year. This level is far from the heading days of a decade or so ago, the question is - is this the new norm? and if so what is driving this situation and have we seen the end of the golden summer?
Agents are protesting the increase in advertising fees on Trade Me Property by removing their listings - this action will leverage them no influence as their clients are being directly and immediately impacted as less exposure is being achieved and the data shows that the audience is not moving across to Realestate.co.nz to find these properties
The new year has seen the start of a competitive campaign playing field between the leading two portals - trying to capture more consumer traffic? - I don't think so, more likely a trade marketing push thinly disguised in a consumer message
I find it interesting to analyse and compare the NZ market to the UK - the trends experienced between the two countries are similar and valuable to better understand the future trends for NZ.