Record Breaking Month Impacts on Buyers, Sellers

NEWS RELEASE

Record Breaking Month Impacts on Buyers and Sellers

For Release: 19 March 2007

With February 2007 a new record for Harcourts New Zealand for the value of written sales, those considering the sale or purchase of property need to ensure they are fully informed and ready to act, according to Harcourts New Zealand CEO, Bryan Thomson.

Reporting Harcourts’ February activity in the latest issue of Harcourts MarketWatch newsletter, Mr Thomson confirmed Harcourts’ offices nationwide wrote just under $1.1billion worth of property sales during the month, achieving a new record in the 119 year old company’s history. “While this is great news and a stunning result that vindicates the focus and sheer hard work of so many across our group, there is an important message sellers and buyers should heed to assist them with their decision making.”

He noted that sellers need to understand the role of their chosen sales consultant including taking into account their property, requirements and the market to provide a plan to maximise their sales result. “When selecting an agency to market your property, ask the sales consultant just one question: How are you going to ensure we achieve the very best price? If you don’t like the answer then don’t hire that consultant no matter what fee level they offer.”

Mr Thomson observed that too many sellers were being misled into selecting their real estate company based purely on cost, then regretting the decision when a poorer than expected result was achieved which actually cost them more in the long run.

He also advised buyers to ensure they were prepared to act in a short time frame, with competition for property still the norm. “Recently we saw some high profile so-called real estate advisors suggesting buyers should withhold information from sales consultants to get a better result! As a buyer shouldn’t you use all the professional help you can to secure a property? Select a consultant you trust, be open and tell them your situation. They will work hard for you. If you don’t feel comfortable doing this then change the consultant you work with.”

ENDS

See... Harcourts MarketWatch March 07 (PDF)

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