In real estate you spend a fair amount of time driving to and from appointments. So the radio becomes your companion. A couple of weeks ago I tuned into Radio Live to a heated discussion on the topic of ‘your real estate agent experiences’. It is fair to say that the majority of callers didn’t hold the industry or its practitioners in high regard. In fact as one caller put it: “all real estate agents are scum”. My initial reaction was to think ‘this is how politicians must feel’. As a seasoned talk back contributor, I also felt a little helpless in my inability to balance out the debate.
Now I’m the first to admit that the industry has never been considered the most worthwhile of professions. The actions of a few have worked wonders in dragging the industry into disrepute. But in 2008 the Real Estate Agents Act (REAA 2008) was created to regulate the industry. It has also created a relatively easy path for clients to complain and seek remedy if they feel an agent is in breach of the act. These changes mean agents have had to upskill their property knowledge significantly, adopt a more vigilant approach to their practice and partake in professional development on an annual basis. These are all positive steps towards a more professional workforce. In addition, a requirement of the act is that it is necessary for the owner (and agent) to disclose any hidden or underlying defects. This serves buyers very well. These defects are considered to be any aspect of a property which would impact on a buyer’s decision to purchase. Thus removing the “caveat emptor” approach to purchasing.
Many people believe real estate is an easy job and because of that people leave as quickly as they start. It would be lucky if 50% of those who started were still going after one year and 25% of those after two. The public might see the flash European car (leased or financed), pin striped suit and latest model phone, but few see the late nights and weekends with no guarantee of pay. After all, with an average industry income of $35,000 (net of individual expenses) is it really worth all that public hatred?
So next time you see a weary agent with a fake smile at an open home while you are out enjoying a leisurely Sunday, consider throwing flowers not rocks. After all, they are just doing their job.
Wellington Market
The market has had a late burst over the last few months with stagnant properties generating interest and selling. Listings are still down on this time last year so for those still interested in buying there is limited choice. The market should start to show some slight improvement price wise with fewer listings generating greater competition and leading to good prices over the winter period.
Wellington Property Stats
| March 2014 | March 2015 | |
| Northern | $470,000 | $527,000 |
| Western | $580,000 | $621,500 |
| Southern | $525,000 | $521,278 |
| Eastern | $584,000 | $595,000 |
| Central | $457,500 | $534,000 |
Average days to sell: 31.2
Anzac Facts
- Gallipoli is remembered because it is seen as the time when New Zealand first really established its own identity as a country.
- The Australian and New Zealand Army Corps (ANZAC) troops first landed on the beaches of the Gallipoli Peninsula, in Turkey on 25 April 1915.
- Both New Zealand and Australia suffered huge losses at Gallipoli. Of the 8,556 New Zealanders who served at Gallipoli, 2,721 died and 4,725 were wounded. The forces were finally withdrawn in December 1915.
If you or anyone you know could value from some friendly and professional property advice, please do not hesitate to call.
