Archive for the ‘Ray White International’ Category
New Zealand has only seen the “tip of the iceberg” of wealthy Chinese wanting to buy houses, commercial buildings and land in Auckland, a real estate agency says.
Ray White Real Estate’s commercial arm says in the last year, more than half its Auckland business has come from high net-worth resident and non-resident Chinese and Chinese investment companies, who bought 15 properties worth $249m.
In the previous year, only 22 per cent of the agency’s business was from offshore, and none of the buyers were from China.
Sixty-four per cent of the sales were to resident Chinese or new entrant Chinese companies, ”reflecting the huge capital inflow from this region.’’
It was so strong that the agency had appointed an Asian desk headed by a Mandarin and Cantonese-speaking architect who could help Asian land developers interested in New Zealand.
Ray White analyst Brendan Keenan said the scale and speed of Chinese capital flowing into the New Zealand commercial property market was “unprecedented”.
Commercially, Chinese investors were most interested in land, either for development or landbanking, Auckland office buildings and landmark CBD sites.
It was ‘’largely an Auckland phenomenon’’ because Auckland was perceived to be the biggest centre of economic growth and also where most Chinese lawyers and professionals were based.
Keenan said New Zealand had always been well regarded by the Chinese as an immigration destination alongside Canada, Australia, England, Singapore and the United States.
But several new factors were now fueling that trend, including China’s slowing economy, the prospect of a property bubble, liberalisation of its foreign investment rules and a growing resentment of its elite.
The Chinese liked New Zealand’s education and environment, its relatively cheap property market, and were facing toughening immigration rules in other Western countries.
The UK and US were not easy destinations, and Canada had recently rescinded a decision to grant permanent residency to wealthy foreigners individuals who lent the Canadian goverment C$800,000 for five years.
In April, Keenan said, the South China Morning Post labelled New Zealand the “next Canada,” because of its policy of allowing those who NZ$10 million over a three- year period to gain residency.
Another category grants residency for those who speak English and invest NZ$1.5 million over four years.
‘’With much of the western world closing its doors or making it harder to immigrate, New Zealand is quickly becoming a preferred destination for China’s wealthy, and we believe that we have only just begun to experience the tip of this very large iceberg.’’
Keenan said there were parallels to the ‘’Australian asset grab’’ in the early 2000s and the south-east Asian investment boom of the 1990s, in the sense that they were not driven purely by financial decision making.
The current influx of Chinese investment underpinning Auckland’s property market was also not purely driven by finances but it was driving up prices on selected assets.
‘’Where previously there has been a collective industry notion of what an asset should be worth, these new entrants are blowing the traditional thinking on value out of the water and setting new pricing benchmarks.’’
High profile purchases by Chinese investors include a prime but long-vacant site in Auckland’s Albert St for a 53-storey tower building by New Development Group, backed by Chinese magnate Furu Ding.
A half stake in twin tower buildings at 205 Queen St were recently sold to an Australian company which Keenan says has Chinese backers.
Chinese developer Fu Wah Group has partnered with the Auckland Council to build a 200-room hotel at Auckland’s Wynyard Quarter, although it will not own the land.
Not all the fresh interest in Auckland’s commercial property market is from China. Real estate agents have noted increasing enquiry from Singapore and from Australians looking to place capital here, despite the strong Kiwi dollar.
‘’With the growth of business confidence in New Zealand being well reported over their side of the Tasman, it would appear that Australia is no longer ‘the lucky country,’’ said Whillans.
In an era where purchasing decisions are empowered by the information available at your customer’s fingertips, we believe that leading the way in great customer service is vital to our business.
Our commitment to knowing our customers, understanding why they choose Ray White over our competitors and how we sustain, build and promote that relationship has seen our driving force in customer satisfaction, Shelley McDowell from our Ray White marketing team, invited to present recently at the 2014 New Zealand Customer Conference.
The conference showcased 25 unique perspectives on customer service innovation and is the ultimate presentation of customer-centricity in action. “Shelley’s invitation is testament to Ray White’s focus on and progress in customer satisfaction.” says Carey Smith, Chief Executive Officer of Ray White New Zealand.
At the conference, Shelley presented and discussed a range of topics from how Ray White have established a real-time customer experience program, the challenges of changing an industry wide view of the customer experience, and switching from a reactive to a proactive customer relationship driver. Shelley went on to talk about the collective strength and benefits of building momentum through internal culture changes and how Ray White have gained, and retained, a world class Net Promoter Score (NPS).
The Net Promoter Score (NPS) is an international customer service monitoring tool, and is calculated as: the percentage of Promoters minus the percentage of Detractors. Customers respond to the simple question: ‘How likely are you to recommend your Ray White Agent to your family and friends?’ on a 0 to 10 rating scale and results are categorised as follows: Promoters 9 and 10 score; Passives 7 and 8 score; Detractors – 0 to 6 score. Our customers are contacted electronically after an unconditional sale inviting them to take part in the survey. Through a series of structured metrics the results are calculated and feedback is then made available to the team – enabling individuals and offices to not only assess their performances, but also identify opportunities for service improvements and growth in their business. “This programme is part of our business growth strategy and our dedication to keeping the customer at the heart of everything we do. Through Harvard research and Bain & Co. Consultancy we know that business growth and profitability are closely linked to better customer service” says Shelley.
The Ray White Customer Satisfaction Programme is a tool which will continue to drive our behaviour as the market leader in customer service. The programme collects customer feedback enabling us to capitalise on word of mouth as well as identify opportunities for service improvement and growth. ”Ray White have adopted, across our business, the Customer Satisfaction Program to drive our behaviours as the market leader in customer service” Carey Smith, CEO Ray White New Zealand states. Informed by this data, the new financial year will see us improve our training and review systems, working on areas of improvement identified through the surveys to date, and of course launching more surveys to our customers.
Following on from our earlier blog post on our customer service satisfaction program - here are a few fast facts on our Ray White Customer Satisfaction Programme:
- 32,000 surveys have been sent out internationally
- 81% of survey respondents have been promoters (giving Ray White Agents a 9 out of 10 score)
- Australia and New Zealand are currently showing a Net Promoter Score of 73
The Ray White Group in New Zealand has released a specialised Chinese Marketing Toolkit which is available for all members as part of the acknowledgement of the growing increase in Chinese buyers and sellers throughout New Zealand. The toolkit has contributions from the BNZ, Statistics New Zealand, Juwai.com and Brian White, the Chairman of the Ray White Group.
Within the Chinese Marketing Toolkit the BNZ survey suggests that Chinese buyers were the second largest group of overseas investors to New Zealand, accounting for 20% of growing sales registered to overseas buyers. Other media reports show that New Zealand is rapidly becoming one of the top destinations for Chinese people looking to buy properties overseas as quoted by Fairfax New Zealand News.
With the release of the Toolkit, Brian White, Chairman of the Ray White Group, said that Ray White is committed to the ‘Asia Century’ and recognises the importance of increasing integration between the economies of New Zealand and Asia.
The breakdown of the Chinese population in New Zealand shows that 61% live in Auckland and over 90% live in the major cities of New Zealand, including Auckland, Wellington, Christchurch, Dunedin and Hamilton. Chinese (including Yue Chinese and Mandarin) is now the third most spoken language in New Zealand. Mandarin showed one of the biggest increases in New Zealand’s top 38 languages – growing to 52,263 residents speaking Mandarin Chinese at home (with an additional 44,625 peaking Yue Chinese followed by a further 42,753 peaking other Chinese dialects). Other interesting facts include that 64% of Chinese who reside in New Zealand own their own property and that the average age of a Chinese person in New Zealand is 35.
Along with the release of the Chinese Marketing Toolkit, Ray White have also announced the multi-lingual desk team which is led by Sen Wang who co-ordinates the promotion between New Zealand and Asia together with the new Ray White Asian headquarters led by Marcus Ng with offices in Beijing, Hong Kong, Malaysia, South Korea and Singapore which will be opened later in 2014.
Ray White New Zealand are proud to have 138 Chinese members on staff – 133 of whom speak Mandarin.
For more information relating to the promotion and sale of New Zealand property to the Asian market please click here to contact Ray White New Zealand
Zac Snelling, National Group Property Management Executive, co-ordinated the day of high profile speakers including Michelle Delaney and Gerri Keays from Ray White Australia. Jason Gunn presented as a keynote speaker together with other speakers including Annette Tan, Michael Abbott and Susan Ratana. Phil Thompson also presented a session to our members around handling conflict.
Zac Snelling said that the event was a marvellous success. “The resources that the Ray White Group has now around property management extend to high level development training, skills based sessions and also necessary compliance along with conferences and group meetings such as these.” Zac went on to say “The continued growth in the group’s property management portfolio was a direct reflection of the confidence our members have in the area of property management.”
The presentations today further emphasise the skill that is required in the area of property management and the sessions, while being centered on property management also looked at the broader integration of agency between sales and property management as well as the cross pollination of databases with the associated offerings of the Ray White Group through the area of property management.
The day closed with the announcement of the Ray White Apmasphere strategic planning retreats which will focus on Hyper Growth in Agency, Machine-like Agency, Run Lean Type Agency and Other Priorities Type Agency. These specialist programmes are designed to assist Ray White Group members build capacity in property management.
For further information on Ray White Property Management learning and development programmes please click here to contact Zac Snelling.
Marcus Ng, head of Ray White China, recently presented to Ray White Auckland business owners and sales members on the opportunity that is available through Ray White China. In his presentation Marcus talked about the commitment Ray White has to the Asian region, with offices in Malaysia, South Korea, Singapore and Hong Kong.
The new office in Beijing recognises the increasing importance of the integration between the Asian economies and New Zealand and Australia. Marcus will be connecting Chinese buyers to Ray White New Zealand businesses.
Ray White was the largest exhibitor at the renowned Beijing Property and Investment Exhibition held late last year. There were approximately 100,000 visitors and Ray White displayed several Auckland properties directly through the Expo and also on Chinese television.
The combined activity generated a large amount of enquiry and this has now moved to the next level, with Marcus Ng opening his office and Ray White having a multilingual China desk team led by Sen Wang who will be providing dedicated resources and services to add value to Chinese sellers and buyers and this will include translated marketing material, websites, compliance information and one-on-one multi-lingual services to assist in all property transactions.
During the presentation Marcus also released marketing packages, which include a broad range of Asian distribution points through web and media. This was accompanied by listing presentation material, a Chinese information fact sheet and the listings which are shortly to be released on raywhitechina.com
For further information regarding the Ray White China desk please click here to contact Sen Wang.
Kerikeri, located about 3 hours drive from Auckland is a popular tourist destination due to the beaches, fishing and relaxed atmosphere. These attractions also appeal to people wishing to reside and work in the region. Ray White Kerikeri covers a wide range of real estate including residential, lifestyle blocks, rural, businesses, commercial, orchards, coastal and waterfront property.
The annual Kerikeri Lions Christmas parade, held in December, has been running longer than Managing Director of Ray White Kerikeri Laura Knox-Whyte can remember. Laura experienced being part of the parade as a child. She recalls riding her horse as part of the Kerikeri Pony Club float and can even remember once being dressed as a kiwifruit. For the first time this year it was decided that Ray White Kerikeri should organise a float for the parade.
Together, the team at Kerikeri came up with ideas as to how to bring together a Ray White float. Laura’s husband Damien Whyte, a licensed building practitioner built a Ray White house from corflute signs and balustrade. Agent, Bob Thompson was in charge of driving the car that towed the house while other staff dressed in black Ray White T-shirts and yellow wigs, handing out hundreds of Ray White flags, lollipops and balloons. The Ray White yellow vintage bike was also a feature of the float.
Laura finds that as well as building on the great team spirit within her business, taking part in activities like the parade strengthens Ray White relationships throughout the broader community. The Kerikeri office also contribute to the Bay of Islands Pastoral & Industrial Show, held at Waimate every year and are involved with the Bay of Islands Riding for the Disabled group. The team have already decided to participate in next year’s parade, for which plans have begun.
On reflection at the end of the day, Laura said “We saw the most successful Christmas parade held in Kerikeri for many years, with the combination of great coordination, being held on a Saturday, wonderful floats, sunny Bay of Islands weather, great crowds and many happy children.”
Ray White New Zealand is proud to welcome Maguire Realty Limited as a member of our Group, to be known as Ray White Mission Bay. The new office adds further strength to Ray White’s existing offices in the desirable Eastern Suburbs of Auckland.
Director and Co-Owner, Wayne Maguire has been in real estate for ten years as a Salesperson, General Manager and Business Owner. He is also a successful Auctioneer – in a little over two months he has called 50 Auctions for Ray White Remuera. Wayne and his wife and fellow director, Krissie Maguire offer a wealth of experience in the off shore promotion and selling of Auckland property and an International audience.
Wayne is excited to be part of Ray White, he said that the Group offers him an opportunity to further build his business across a wider market whilst still specialising in the luxury end. The Ray White technology platform is industry leading and is just what we were looking for.
Graeme Fraser, Auckland Business Performance Manager welcomes Wayne, “I am delighted to welcome another office into the Eastern Suburbs alongside Kohimarama, Orakei and Remuera. It is an area where we enjoy a strong market presence and accompanying market share. Wayne will be a welcome addition to the Group and to an already strong Auckland City Zone. The Mission Bay office will be officially opening in early January 2013 and I would like to extend a very warm welcome to Wayne and Krissie and the team.”
For further information on the new Ray White Mission Bay office please click here.
Sarah Pearce has had a long and distinguished career since joining the industry just on 10 years ago. She has received many awards in respect of her sales career and these have included Premier and Elite status together with numerous national awards. Sarah is also well known to many within the industry for her ongoing appearances in the TV show “Location Location” and also other short series property programmes.
Sarah joined the Ray White New Zealand team in April 2011 to take on the role of Growth Performance Executive. This role was a newly created role in line with Ray White New Zealand’s aspirations for growth within the industry and also further market share from the existing network. During the past 18 months Sarah has been instrumental in introducing over 1,000 contacts to Ray White New Zealand and this has resulted in record growth for the Group, with a new office opening every 10 working days.
At the recent Ray White International Franchisors’ Conference held on the Gold Coast Sarah was acknowledged by Brian White, the Chairman of the Ray White Group, and awarded with the Challenge Cup Trophy. In awarding the Challenge Cup Brian White said “Sarah shows a determination and skill that is rarely shown within the industry. Her ability to communicate, to understand career paths and to also respect those within our industry is unmatched.”
One of the most recent initiatives that Sarah has brought together is the National Industry Day with a panel of five high performing industry achievers. This event is open to all those who wish to attend on the basis that the industry needs to continue to share and to prosper from the best within the business.
To contact Sarah please phone 021 0275 4434 or email firstname.lastname@example.org.
Paula Raine from Ray White Christchurch Commercial has recently been acknowledged at the South Island awards as the number one salesperson in the region for the first quarter of 2012 and also as the first national Alan White Premier member for the Ray White Group in New Zealand for 2012.
Paula joined Ray White Commercial in 1999 and has had an extensive career of successful sales of both commercial and industrial property. Paula has also been recognised for a number of successful leasing appointments throughout the Christchurch area. In 2009 Paula and her husband Adrian Raine, who are the owners of the Ray White Christchurch Commercial business, were awarded with the prestigious International Leaders of the Year award for Ray White Commercial.
Carey Smith, New Zealand Chief Executive of Ray White, said “Paula’s sales in 2012 have been exceptional. Her ability to be able to adapt to the changing market environment in Christchurch has been outstanding. All agents in Christchurch have been surrounded by new conditions and it’s those who have been able to understand today’s position and also the future needs of clients who are continuing to achieve success.”
For further details on Paula please see her personal profile here.
Ray White New Zealand is proud to present our digital marketing packages which have been released to our network specifically to target online buyers on websites throughout the world. In addition, Ray White has added in Google search and the display campaigns allow our clients to showcase and promote their property directly to specified target segments on each website within the campaign.
It effectively enables our clients to reach a whole new world of buyers beyond current traditional online and media promotions. Ray White creates the ad and in partnership with realestate.co.nz, Trade Me Property and raywhite.com, properties are then enabled into National, South East Asia or International packages which on average can expect for the international package in excess of 2 million international impressions.
The Ray White international digital package houses nine countries and over 100 premium online sites, including Ebay, Yahoo, Forbes, American Express, Realtor, Sydney Morning Herald, BBC and Right Move.
We have a complete question and answer section in our digital marketing packages which are now available through each Ray White office throughout New Zealand.