CE Comments by Carey Smith 20 October 2017

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With the change of government announced last night there is a view it may becoming challenging for those involved directly with real estate sales. There is no doubt it may be the case that there is a change in dynamic for the buyer and the seller. This, I believe, will add to the relevance of our business at Ray White in a way that continues to bring out the best in our business to excel in customer experience and to acknowledge that we do work under market conditions that can change and have changed significantly over the past 20 years. We are a company that is proud to say that in each of those changes we have been able to respond by way of outstanding results, which is reflected in our growth of market share across New Zealand. Our business is highly competitive and we see market conditions as being an opportunity to get the best of what is available for every client, be that a seller or a buyer.

Just as importantly, is our expertise in the growth of our property management business. We have stood strongly on a platform of education. There has been a wave of legislation changes that we have absorbed and been able to provide outstanding documents to ensure we are positioned for landlords and tenants to provide better relationship and housing conditions across New Zealand.

It is too early to give any comment about the changes a new government will bring. But what we do know is that housing requirements across New Zealand for all New Zealanders are a fundamental value that we all strive towards. Ray White is supportive of better housing conditions, be that through the ambition of home buyers or those who seek to lease properties at their preferred option.

On the Ray White front, we recently held our National Business Owners Symposium in Wellington. Our keynote speakers included Sir Ray Avery and Sir Ralph Norris. Our programme was supported by our Chairman, Brian White, together with many of our corporate team and leading franchise owners presenting to the attendees. Our New Zealand Strategy is based on customer experience and we reaffirmed our Strategy with a deeper understanding of our client relationships and how to achieve the very best outcome for the almost 25,000 clients who place their properties with us to sell. Property management featured strongly. We now manage $11.2 billion of property across New Zealand for landlords. As our portfolios continue to grow, we have produced documents which include the Landlord Guide, Tenant Guide, and more recently showing how our property managers add value to the management of landlords’ investments.  

During September we celebrated our international award winners across the Ray White Group. This recognition was headlined by Ray White Remuera, who was acknowledged as the number 1 agency in Ray White internationally. Ray White City Apartments, Ray White Ponsonby and Ray White Howick were also acknowledged in the top 10 businesses across the Group. Individually, Anton Huang (#2), Rohan Thompson (#4), John Quiambao (#6) were recognised for their sales performance. In respect of customer satisfaction; our New Zealand members excelled, with our offices being acknowledged in 8 of the 10 top awards and individually, seven of our members achieved the highest level of customer experience across the Group. This year Ray White New Zealand is on target to have more than 8,000 promoters at an NPS level of 78. We continue to focus on our client experience through our Customer Monitor programme, which forms a key part of our Strategy.

On behalf of our clients, Ray White New Zealand is currently running a National Marketing Statement, which provides exclusive opportunities for property marketing. All Ray White salespeople have details of the upgrade offers available to our sellers and online marketing opportunities.

You will see in the marketplace Ray White is undertaking our re-brand positioning. The emphasis of the new brand ensures that property marketing receives the highest level of response through careful positioning of property profiling. In addition to this, changes have been made to our websites which aggregate mapping and present much more detail about each property to support buyer enquiry directly through to our agents.

Our Ray White Group has 159 offices across New Zealand and much of our growth relies on the significant loyalty and tenure shown by our business owners. During the last quarter, we have had a number of significant members recommit to the Ray White Group. This includes Ray White City Group in Auckland, Ray White Tokoroa in the Central North Island. In Canterbury, Ray White New Brighton and Ray White Legacy. The Lower South Island has seen Ray White Arrowtown and Ray White Wanaka recommit to Ray White. In the area of property management, SuperCity Rentals in Auckland and Rent Rite in Queenstown have renewed their agreements.

The last quarter of each year, particularly November, generally brings about a high level of listing and consequently, sales numbers lift. While there has been a change in the government, we still expect the November activity to be a significant increase on past months’.

Our Ray White members continue to grow their business through determination of great outcomes for clients. We believe the next period will bring opportunities but they will need to be found and our Ray White members are ready to deliver for our clients.

Carey Smith
NZ Chief Executive

csmith@raywhite.com
@careysmith
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