Posts Tagged ‘days on market’

The Ray White Group has surpassed over 1.1 million views in one month of their properties on Trade Me.  Ray White is the first real estate company to surpass this mark, with average on 585 views per property. In addition to this, the Ray White Group also received over 6,500 emails enquiries on their properties during the month an average of over 300 per working day.

Ray White can attribute a high degree of its marketing success rate directly from Trade Me.  Our partnership  with Trade Me Property is developed on the basis that their real estate website receives in excess of 2.5 times the amount of any other composite website and 5 times the amount of any individual agency website.  Ray White has 100% of their stock with Trade Me and this provides Ray White vendors with a far greater exposure than any other individual real estate company in New Zealand.

Trade Me Property has a average visitor length of 21 minutes, with the highest from any individual agency being a mere 5 minutes.  This gives further emphasis to Ray White in regards to their properties exposure and the relevant display information. 

Complimentary to Trade Me Property is Ray White’s national site www.raywhite.co.nz.  This provides the user with integrated industry news together with 14,500 properties that all have satellite and hybrid mapping and fully featured photography which is enhanced by the slideshow display format.  The value of our national site is further enhanced through the 131 individual Ray White office sites which provide detailed information at a local level. 

Ray White has developed a complete web strategy which offers vendors and also purchasers the greatest audience of any New Zealand real estate company.  Each property that is listed through Ray White receives automatic listing on Trade Me Property, raywhite.com, raywhite.co.nz and the local office website.  This exposes Ray White properties to in excess of 1.125 million unique browsers per month, which is 6 times our nearest national competitor.

Trade me is recognised as the clear leader for online Real Estate marketing. Ray White is the number 1 Real Estate company on Trade Me.

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.”