Archive for September, 2009

Auctions are the key for Simon Siddells from our Redcliffs office. In one week Simon Siddells marketed and sold three properties by auction to a total value of just on $2.2m. All three auctions were held on-site and all had multiple bidders even though all three properties had a completely different target market. This success came directly as a result of some excellent marketing programs as well as Simon providing full reports and market feedback through MyDesktop. These reports were invaluable in providing direct buyer feedback and ensuring the vendors were in a realistic position on auction day. Simon also did a fantastic job in gathering his buyers. The final sale price on two of the auctions was well above the owners initial expectations, whilst the third achieved a satisfactory price for the vendors. This is a great example on how important it is to follow all the steps in order to get the right result.

John Halstead and Peter Best, the owners of the Ray White Kohimarama office, have recently re-branded their business to the latest Ray White livery.

In talking with Peter Best, he has been running the agency from that location for the last 18 years.  It is the only real estate office in Kohimarama and is located on the beachfront next to the cafe and residential areas.  Over the years there has been a number of real estate agencies start only to fold.  Peter has maintained a consistent Ray White profile in the area and ensures that the business has all the latest Ray White material.  Peter said going through the re-branding exercise gives his business a definite lift.  “When the office and our material that we hand out to the vendors sit together with media we have much better recognition in the marketplace. I am pleased with our clean look as it is in keeping with the area and the branding that we profile into the marketplace.” 

Three months ago Bob Mountfort and Neil Baker took the bold step of deciding to re-locate their business in Howick to a new central location which in capacity is three times the size of their previous location. The Howick shopping area has a village feel about it and the new Ray White office is well positioned, with a high pedestrian count and backing onto a major car park area.  The premises have a wide frontage in which over 70 properties can be displayed in an A2 format.  Inside the office there are interview areas for rentals and sales together with a boardroom area that will be used for seminars and auction presentations. In speaking with Neil and Bob, they commented how proud they were of the new premises and while it is a substantial commitment to their agency business, they believe that their current market share of 24.6% should continue to increase so they effectively become the market leaders through the Eastern Beaches area.  The Howick office once again becomes a flagship business, not only for the Mountfort Group, but also for the industry throughout East Auckland.

The Ray White Ponsonby office has moved to the new branding of Ray White. 

Last Wednesday night the office was completed and “switched on”.  It is an image that is setting new standards in the industry.  The Ponsonby office is located towards the western end of Ponsonby Road and has a high profile aspect to vehicle and pedestrian traffic.  Their window displays use the large VIP signs together with A1 size posters.  In addition to this, they have their property management business in the building beside their sales business. 

Not only has the office completed the external of their premises, but have ensured they have all the latest Ray White material.  This office is at the forefront of e-marketing in the use of websites and newsletters. 

In addition to this the Ponsonby website www.rwponsonby.co.nz is optimised to be one of the leading property websites for Auckland and New Zealand when property is searched on Google.  In speaking with Bryce Earwaker, Principal of the Ponsonby office, he said the image of the shop is important to the direction of the office and it also reflects the involvement we have as a proud local business.

Predictions about the future of the real estate market are as changeable as the statistics, but recent figures from the leading real estate group Ray White show that the Auckland market is tightening in favour of the seller. Figures for June and July 2009 for Ray White in the greater Auckland area show that the average number of days on market has dropped to 37.5 from 53 in January and February – a reflection of the reduced stock over winter and a growing pool of buyers.

The pressure is forcing would-be buyers to up the stakes: at the height of the property boom, in mid-2007, properties were selling for an average of just 2.1% below the listing price. As the slump began, buyers started to pick up relative bargains, with sales at an average of 8.3% below the listing price in August 2008. As the market has tightened, so too has the gap between sellers’ expectations and buyers’ hopes, with an average sale price of just 3.9% below the listed figure in July 2009.

The speed of turnover is reflected in the number of sales: the second quarter has seen a 25% rise in the number of properties sold in the up-to-$1 million range (4,781), compared with 3,815 in the first quarter.All this is happening, says Ray White New Zealand CEO Carey Smith, against a backdrop of ‘self-cleansing’ in the real estate industry. “The recession has prompted a significant decline in both agents and offices, with a turnover of agents in the market of 52% in the year to February 2009.

 Times like these demand a rise in the quality of service and results for vendors and buyers.”Ray White has responded to this demand with a new service, Ray White Concierge. The service, free to Ray White clients, takes care of all connections and disconnections of services, including telephone, internet, gas, electricity and pay TV. The service also offers helps with home loans through Loan Market, and  insurance with Sovereign.

The progressiveness of Ray White in the area of IT and customer usability has been in evidence for several years; the company was the first real-estate agency to list on TradeMe, in 2005, and each office has its own web presence.

“It remains an intensely competitive industry, and the quality of service and access to information is what sets agencies apart from one another,” Mr Smith says. “We have developed Ray White Concierge as part of our response to that competitiveness – after-sale service is extremely important and is an area where some agents fall down.”

Simon and Glynn Pritchett, husband and wife team at the Kohimarama office, manned a Ray White stand in Hall 9 at the Auckland Home Show which ran from Wednesday 9th to Sunday 13th September. Simon, a well known interior designer, has had an association with the show for over 18 years, and saw this as an ideal opportunity to not only promote his real estate partnership, but Ray White Kohimarama and the greater Ray White Group, including Loan Market. Up to 55,000 people attend this show annually and it is a great promotional opportunity for Simon and Glynn and to also promote a cross section of the office’s listings and services. Simon expected to make some good listing and buyer contacts and also to make a number of referrals to other offices as a result of enquiry.

Ray White CEO Carey Smith appears on NZI Business TV1 responding to recent changes in the property market.

The  August property sales results for the Ray White Group throughout New Zealand have seen an increase of 47% on the same time last year.  These results are also reflected in the increase in listing stock, which has seen the company lift 27% more properties than this time last year.

The Northland region increased its turnover by 46% and also had a positive stock increase.  We currently have nine offices trading through this region.

In Auckland the increase was the largest in the country, being 69% and close to $200 million in turnover.  The volume of property listed increased to just below 1,000 properties; an increase of approximately 35% on the previous year.  Ray white has 671 salespeople trading through this area.

The Central North Island, while reducing its controlled listing levels, increased their sales turnover by 49%.  Throughout this region we have welcomed four new offices in the last three months, being Tokoroa, Putaruru, Taranaki and today the new Opotiki office.  The Lower North Island increased their property sales by 25% and also increased the listings secured by 14%.

The Upper South Island, where Ray White has five offices, lifted turnover positively by 41% and listed approximately 57 properties.  The Canterbury market saw a 20% increase with a 10% increase in new listings.  The Lower South Island remained consistent in the turnover of sales, with a slight increase in the number of new properties listed.

The Ray White Group has 130 offices turning over just on $4.3 billion in property sales per annum.  The company will list just on 25,000 controlled properties and year to date has increased property turnover by 27%.

The Ray White Group is proud to announce the opening of its 130^th office throughout New Zealand in the central North Island market of Opotiki.  Jackie Rooney, who is  the Principal Officer of the new Ray White office, commented that in order to provide better services to her clients she has aligned her business with a brand that is currently one of New Zealand’s market leaders.  Jackie also said that the choice of Ray White gave her a greater reach, both nationally and internationally, through marketing together with a website presence across www.raywhite.co.nz www.rwopotiki.co.nz and for a broader audience www.trademe.co.nz.

The Opotiki market is one that is diversified with investment, owner-occupied and coastal properties.  The adjoining markets have a rural influence in the town, which is 20 minutes from Whakatane and just 1½ hours to Gisborne on the East Coast.  Opotiki continues to develop its base as a provincial town and the recent announcement of resource consent for the harbour development has given great confidence to the town and the people of Opotiki.

In opening the new Ray White office, Carey Smith, Chief Executive of the Group, said “That to have Jackie and her team as part of the Ray White Group was exciting.  It gives the Group further opportunity to grow throughout New Zealand and more particularly, align our existing successful offices throughout the Eastern Bay of Plenty.”

Jackie Rooney started her real estate career in late 2001 as an administrator and property manager in Opotiki.  In late 2003 she embarked on the sales side of the business, successfully achieving a number of awards with her previous company.  She then went onto gain her licence as an Associate Member of the Real Estate Institute of New Zealand.  In doing so she took the step of purchasing the business in October 2005.  Today Jackie’s business is one of the market leaders in the town.

Another key reason that Jackie Rooney and Ray White have come together is through a mutual support of Ronald McDonald House in Auckland.  The new Ray White office also supports the local community through the Woman’s Refuge and local youth attending Spirit of Adventure courses.

The Ray White Group now has 130 offices throughout New Zealand trading through local communities.  The network offices turnover just on $4.3 billion in property sales and are active in property management, rural and commercial services.