Free Report We Buy Houses

Free Report www.accumulate.co.nz Vendors Testimonials Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Vendors Testimonials Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Vendors Testimonials Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- Vendors Testimonials ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- Vendors Testimonials To whom it may concern, Reference (Tom Lin - We Buy Houses) I got Toms contact details from a magazine I picked up at the Airport. It had a write-up on Tom and the service he provides. I thought this may be a service we could use as our situation required someone with a lot of flexibility. We needed to sell our home so we could build a new home but didn't want to have to move more than once. Tom suggested a purchase by installments scheme that would give us funds through the building process and allow us to remaining living in our current home. Although on this occasion we did not go ahead with Toms service (we could not agree on a purchase price) it was a worth while experience. We found Tom very easy to deal with, he is very friendly and willing to assist any way he can. He also provided us useful information on the sub-division potential of our current home. Tom it was a pleasure dealing with you. Kind regards Shane Ormsby Mob 021 482545 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- Diana Clement: Surviving cut-throat world of real estate Saturday June 09, 2007 By Diana Clement Source: nzherald.co.nz Selling an Auckland home can cost more than the price of a new car. Or as Peter Gilchrist, director of real estate agency The Joneses, says, the cost of adding an extra bedroom to your home. "Real estate agent" is just another name for "salesperson" and it's important to remember that they're paid by commission, which unfortunately doesn't always bring out the best in people. The industry looks set to be regulated after one too many dodgy agents took clients to the cleaners. It's likely that will involve the setting-up of an independent body with the power to really hurt an agent financially for falling foul of the rules. Even so, woe betide the naive homeowner who entrusts the sale of his or her cherished home to the wrong agent. Real estate is a cut-throat business and agents are schooled in how to extract the most money out of each deal. Good agents can be worth their weight in gold. But the industry as a whole lacks ethics, says real estate maverick and presenter of television's The School of Home Truths Neil Jenman, thanks to the big money in the business, the fact that the industry currently controls its own complaints process and consumers' lack of knowledge in that buying or selling a home happens only a few times in their lifetime. Jenman believes the average consumer loses about $10,000 when selling the family home. Some lose nothing, but others can lose hundreds of thousands of dollars. What to watch out for: Both buyers and sellers need to ensure that they're being told the whole truth. Tricks of the trade include: * Agents knocking the price down to buy the property themselves or for their family trust. ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- * Conditioning: a process where an agent quotes a price to get the business, then starts to whittle down your price expectations to sell the property and take the commission. * Failing to tell you of impediments to the sale, such as a block of flats being built next door, illegal extensions or basement conversions. * Providing false information such as the suggestion that the sellers are divorcing or under time pressure to sell. You may be led into the false assumption that you're getting a bargain. * Agents betraying your confidence. Send friends around to check out the agent at your open home. It may be that you are getting divorced, but you don't want the buyers to know that. * Buyers need to be aware that the agents are working for sellers, not them. Top tips for buyers and sellers: * Get the price right by getting professional valuations. "It is amazing how hard it is to get that message across," says author of Real Estate without Agents Terry Ryder. * Know your market. Shop around and also get familiar with actual selling prices by paying for a local sales report. * Read books about how to buy and sell a home. * Get a builder's report. * Always make sure your lawyer reviews the LIM report. * Find out yourself the cost of improvements you plan. * Knock on the neighbours' and vendors' doors and introduce yourself. You'll be surprised what they will tell you about the property. * Consider selling your home yourself, it can save you many thousands of dollars. A good way to throw money down the drain is with an inappropriate advertising campaign, says Gilchrist. Many agencies take 15 per cent from you on top of the real cost of the advertising. What's more, some encourage buyers to pay ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- thousands of dollars to list their properties overseas at immigration or property road shows. "Buyers should ask the agent to show them the last 20 properties they have sold [in that country], because they may have never sold one." Instead the money funds the cost of the agency's marketing in that country. Even if you do want an advertising package, you may not want to blow your budget in the first month, says Gilchrist. "Some franchises simply tell their offices they have to take five pages in a magazine and will pay for it regardless of whether they use it or not. You can imagine how those sales people are pressured into selling magazine space." If you really want to get the best deal, then treat property buying and selling as a business, and take a leaf out of professional property investors' books. Good investors rarely get emotional. What matters is whether the numbers stack up. Dean Letfus, property trader and educator, who on a slow week puts in offers on 10 to 20 properties, says: "If I was to be brutally frank I probably met and spent time with 250 agents before I found one I could work with. The primary issue would be them telling lies." The cost of selling a home has doubled in recent years - thanks to the fact that agents still take the same percentage of the sale price as their commission, yet house prices have doubled. At 4 per cent that adds up to $18,000 for an Auckland home where the median house price is in excess of $450,000 and up to $40,000 for a $1 million house, Gilchrist says. There is, of course, no rule that says you can't haggle with your agent. In the UK, where property isn't exactly cheap, it's possible to sell your property for 11.5 per cent commission. In Australia the going rate is around 2 per cent to 2.5 per cent. Not all agents would consider 1 per cent, but sellers could probably find an agent to handle their deal if they tried hard enough. As well as Ryder's book, home buyers and sellers could benefit from reading Garry Bond's book Selling a Home Privately in New Zealand or Olly Newland's book The Rascal's Guide to Real Estate which, although a little tongue in cheek and aimed primarily at property investors, has chapters such as "Real estate agents: their treatment & cure", and "Falling in love can be expensive". ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- Roguish real estate deals 5:00AM Sunday June 03, 2007 Author Unknown Source: nzherald.co.nz The real estate sector has been taking a hammering lately, thanks to the actions of a few rogue agents and a slow-to-reform governing body, the Real Estate Institute of New Zealand. Changes are on their way, however, with a proposal for an independent body with investigative powers to better protect consumers and give aggrieved buyers redress. What prompted public concerns? Here's a few of the public's complaints: * Accentuating the positive, not talking about the negative - one high-profile case involved a Hamilton couple who weren't told that an apartment complex was going up next door. A valuer estimated the couple lost out on an extra $30,000 in value when they sold the property 18 months later. * Over-generous descriptions - "15 minutes drive from the city" might be accurate when measured at 2pm on a Sunday, but quite another matter when you have to go to work at 8am on weekdays. And those desirable "sea views" that have drawn you to an open home might have been achieved by the agent scrambling to the top of the roof to take the photo. * Dodgy advertising - manipulating sales statistics to attract customers. Recently L J Hooker's Timaru office was found guilty by the Advertising Standards Authority of misleading the public by advertising that it could achieve a premium house price of 10 per cent over its competitors. Trouble was the company's small sample size for the survey had a distorting effect on the final calculation. * False information - An agent knowingly giving false information about a property, eg, advising that a property is not subject to a body corporate when it is. * Conflict of interest - not disclosing an agent's relationship with a buyer landed Takapuna agency Premium Real Estate with a $900,000 fine after a High Court settlement. * Vendor-paid advertising - sometimes it seems to raise the profile of the agent, more than the property. * Delays in dealing with official complaints: A North Shore woman died after waiting almost three years for REINZ to deal with her complaint about allegedly ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- being pressured into accepting a low offer for her house after an unsuccessful auction. * Paltry fines: In another high-profile scandal a Napier agent was found to have acted unethically over the sale of a client's two townhouses after he reduced the price of two units to almost half their asking price, but never disclosed he was trying to buy the properties himself. (The properties later sold with another agency for close to the asking price.) For this, his firm was fined the maximum by the industry - $750 on each of three charges. ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- The real estate battle that is saving you big money 5:00AM Sunday May 06, 2007 By Ann Newbery Source: nzherald.co.nz Home buyers look set to benefit from a more aggressive real estate market, as traditional agents compete with a new breed of property-sales companies offering to sell your house for less than ever before. The newest deals promise to save homeowners more than $10,000 on the sale of a $500,000 house through a fixed-fee scheme. Companies that offer only marketing packages, such as HomeSell, could save owners almost $16,000 on the same house. But many real estate agents are also willing to negotiate their traditional commission fees, as the battle intensifies. Agents' commission rates vary, although fees of 3 to 4 per cent on the sale price plus advertising and administration fees on a property are traditionally typical, especially in Auckland. The battle between agents and the newcomers coincides with a review of the more than 30-year-old Real Estate Agents Act by Building Minister Clayton Cosgrove, who has been scathing about many aspects of the industry and in particular of the Real Estate Institute. Peter Hammond, national co-director of marketing company Green Door, said the real estate industry had reason to feel threatened as the number of private sales of homes increased, up from an estimated 10 per cent last year to 12-13 per cent this year. With an expected overhaul of the industry in the wings, he said: "I don't believe we'll still see the existing system two years from now. The writing is on the wall." However, Real Estate Institute president Murray Cleland denied that scenario, saying he wasn't scared of competition, and neither was his industry. "We have said that we welcome a review of the act, and we have no problem whatsoever. It's 31 years old. Reviewing the act totally is better than tinkering with it, and we look forward to participating in the review of the act. "I enjoy competition; I think it's great," he said. "At the end of the day it'll come down to how well an agent does the business. I could tell you some horror ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- stories of some of these low-commission people who say they don't charge commission but charge a marketing fee. "There's add-ons and marketing fees and all that, and when you start to compare apples with apples, there's not a lot of difference." He said those real estate agents at the top end of the market required "a fair bit of knowledge, skill and expertise to handle those types of sales". "Surprisingly enough, [with] a lot of vendors selling property, the commission is not the thing they actually focus on," he said. "It's the result of the sale that they focus on." Cleland said traditional real estate agents had faced outsiders before. "A few years ago, solicitors entered the competition, and they were going to do it all at 1 1/2 per cent. They consequently went broke." A survey last year by the Consumers' Institute put the cost of selling through an agent on a median-priced house in Auckland at just over $17,000 in March 2006, up 25 per cent from $13,568 in 2003. Given almost monthly price increases since then in the median house price, a much larger chunk of cash would now go into the hands of a traditional agent. Several property-sales newcomers have threatened to change that by undercutting agents with flat-fee charges, or DIY options to sell homes. Last month saw the latest arrival into the Auckland market, The Joneses, a fullservice fixed-fee scheme launched into Wellington, Christchurch and Dunedin in September. Chris Taylor, a founding partner and former director of Vodafone, said the company - whose agents rely on salaries and not on the 100 per cent commission typical in the industry - was determined to change New Zealand's "inefficient" model, which promoted "a deal at any cost". The Herald on Sunday compared various sales methods to see how much home-sellers could potentially save. Our two sample Auckland properties for this study had estimated Quotable Value prices of $500,000 and $725,000. The Joneses The Joneses emphasises that its full-service fixed-fee scheme "doesn't cost more to sell a million-dollar home than a $200,000 home". Its flat fee of $7995 includes GST but not advertising, saving the owner of a $500,000 home more than $10,000, and a $725,000 home more than $15,000. Both savings assume, of course, that the property sells for the price the vendor wanted. ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report HomeSell www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- HomeSell is a 5-year-old private marketing company started by Buy, Sell and Exchange co-founder Rodger Searle. It charges an upfront package fee, from $895 to $2595 in Auckland and less in some other regions - regardless of whether the property sells. The fee includes internet listings and saleboards. Additional marketing costs more. Managing director Kirsty Gillespie said it generally took five weeks on average to sell through HomeSell, but twice as long for rural property. "We don't have big margins," she said. "We rely on the fact that we work well for people, and on volume." HomeSell recorded the biggest savings on both our sample sale properties. GoGecko GoGecko's fixed price commission varies, depending on the value of the residential property sold. Fees range from $4950 (for properties selling up to $199,999) to $15,950 (for properties selling at $1 million or more). GoGecko has a range of marketing options, which usually run on a six- to 12-week basis (any unused advertising is refunded). Like The Joneses, salespeople in 11 offices are licensed agents. REINZ affiliates who must abide by the Real Estate Agents Act of 1976. Master franchiser Phil Strong said GoGecko, which had been operating in NZ for two years, did exactly what conventional agents did for approximately 60 per cent of the price. Green Door Green Door originated in Nelson 2 1/2 years ago and now has 19 franchises throughout the country. It offers five GST-inclusive marketing packages, which include signs, advertisements and web links and range from $500 to $4500 on properties worth up to $300,000. For properties worth more, prices are based on a sliding scale and are generally less than 1 per cent. ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- Real Estate Salesperson Qualification 5:00AM Monday April 23, 2007 By Donna McIntyre Source: nzherald.co.nz THE QUALIFICATION * What: Real Estate Salesperson Qualification * Where: Unitec - Mt Albert, Albany, Hamilton, Howick and Christchurch or by Correspondence * Phone: 0800 109 510 * Web: courses@unitec.ac.nz * Cost of course: $446 * Starting salary: Most real estate agents' salaries are 100 per cent commissionbased. Generally, commission on property sales is four per cent to $200,000 or $300,000, then two per cent on the balance plus GST. The commission is shared between the agent who sells the property and the agent who listed it. Sales people get 50-90 per cent of the commission, depending on a rate determined by how much revenue they have brought in for the company in that financial year. * Course dates: Students can enrol up to the Friday before the course starts. Many people toy with the idea of selling real estate. They hear of big money to be made, plus most New Zealanders aspire to own property. Unitec runs a two-week course as preparation for a career in real estate, with experienced real estate professionals as tutors. The qualification is a prerequisite for employment in real estate sales, allowing graduates to enter the industry within three years. The company employing the agent applies for a certificate for that person to sell real estate. During the course, students learn how to qualify buyers, list and appraise property, and complete contracts. Negotiation and marketing skills are covered, along with an explanation of legal requirements. The course can be completed in a two-week block or at weekends (on Saturdays and Monday evenings). ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- "It is more about compliance and real estate agents knowing what they can do and what they can't do when dealing with the public," says tutor Max Brown. Because real estate agents are paid commission only, companies advise staff to have sufficient funds to keep them going for three months. Max Brown says there is always a demand for people in real estate, but warns new agents to be realistic. "You have to work hard at it. Success won't happen unless you put your time and energy into it." Real estate does suit more mature people, but the industry is also encouraging younger people into sales. Career opportunities include branch manager positions or licensees (with further study). ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- Home truths - Choosing an agent 12:00AM Saturday December 02, 2006 By Murray Cleland (President of the REINZ) Source: nzherald.co.nz With more than 17,000 real estate salespeople in New Zealand, choosing an agent shouldn't be difficult. But identifying the right person to sell your property and deliver the best price requires careful thought. Apart from the obvious requirement of identifying an agent with whom you can establish a good rapport, you also need to find someone who listens to and understands your requirements, and responds with good advice. For those unfamiliar with their local agents or who haven't sold a property for a while, the best approach is to seek expressions of interest from two or three firms. They won't be slow in responding and any that are, you can rule out from the start. The agents will normally appraise your property, research neighbouring property sales data, try to establish what price you want to achieve, and whether you have a preferred method of selling. The agent should also take into account your circumstances and ensure the sales approach is appropriate. For example, open homes can be stressful and inconvenient for the elderly or those with small children. Once the agents have delivered their views on price and selling methods and demonstrated that they can listen and take your requirements into account, you will begin to form an opinion about who is the best choice. By comparing the price estimates, you will form a view on what price you can expect, and whether the property should be auctioned, sold by tender or sold by negotiation. It's worth asking each agent to explain to you what the sales process is, how offers are handled, what the legal process is, when lawyers should become involved etc. This will establish how fluently they are conversant with the process themselves. ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- Another big question for a vendor is that of commission. There has always been a debate about commissions but so far no-one has found a better method of charging for selling real estate. More than 90 per cent of property sales are handled by REINZ members on a commission basis, with the balance been inter-family or private sales, so the figures tend to speak for themselves in favour of the commission system. Commissions are not fixed and most agents will negotiate a commission where the circumstances are appropriate. By virtue of this, the agent is working for you the vendor, and not the purchaser and it's useful to have that discussion to ensure the understanding is clear. In terms of commissions, most agencies will have a set fee; say 4 per cent for the first $300,000, then a lower commission fee for the balance, while others might have a flat percentage for the total selling price. Generally the time of listing is the best time to negotiate commissions, but some will seek to negotiate the commission as part of accepting an offer. ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- Estate agents left out in the cold 12:00AM Sunday October 01, 2006 By Maria Scott When Darren and Tanya Miller decided to put their five-bedroom home in Titirangi, West Auckland on the market recently they were shocked to discover that it could cost nearly $30,000 to use an estate agent. "We only saw one agent and they said they wouldn't negotiate on the fee," says Darren. "Their charge for advertising was on top of the commission." They went to HomeSell, one of a new breed of companies offering a marketing service for people selling privately. A representative visited, took photographs, and within 24 hours the house was listed on HomeSell's website. Within two days the "for sale" sign arrived. Neighbours selling through an agent were still waiting for a sign three weeks after putting their home on the market. "I just don't think the real estate agents earn their money. All they do is stand at the open home and fill out the paperwork," says Darren. Like many homeowners with properties on the market this spring, the Millers have discovered that as the value of their home increases, so does the cost of selling through an agent. The real estate industry's commission-based fee system, charging a percentage of value, ensures that charges rise with the market. Commission varies but charges of 3 to 4 per cent are fairly typical. A recent survey by the Consumers' Institute put the cost of selling through an agent on a median priced house in Auckland in March this year at just over $17,000, up 25 per cent from $13,568 in 2003. As the Millers discovered, the cost of selling higher up the housing ladder - their home is listed at mid-$700,000 - can involve sums equivalent to a deposit on a median priced home. You can buy a lot of building and renovation for $30,000. These costs can make a significant difference to long term returns on the portfolio of property investors buying and selling regularly. It is hardly surprising that homeowners are being wooed by companies offering to undercut the traditional agents. ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- HomeSell's managing director Kirsty Gillespie says: "People have looked at it and thought, 'Gosh, I could do this myself'." Some newcomers to the market are advertising heavily as the spring selling season gets underway. Homeowners need to understand the differences between the services available and some potential pitfalls. HomeSell is one of several companies that aim to take the hard work out of selling privately by providing advertising support, including internet listings and sale boards. But they do not negotiate with buyers. They charge a nonrefundable fee and although these companies claim a high success rate, there is no guarantee of a sale. Estate agents operate on a no-sale, no-commission basis. Prices for private sale services may vary from one part of the country to another and according to the value of the property. In the Auckland region HomeSell has a series of GST-inclusive packages ranging from $895 to $2595. There are options to add extra marketing and advertising services for add-on fees. Marketing company Green Door offers five GST-inclusive packages ranging from $500 to $4500 on properties worth up to $300,000. For properties worth more than this, prices operate on a sliding scale. The North Shore and Rodney franchise of No Commission Property Sales has two main packages - $4500 and $6500, including GST. A recent report of the Consumers' Institute said that, of the three marketing firms, HomeSell had the clearest advertising costs and add-ons. Marketing firms are not governed by industry specific consumer protection legislation. Estate agents are governed by the Real Estate Agents Act 1976 and must be licensed. The Real Estate Institute of New Zealand has taken legal action against two branches of No Commission Property Sales, alleging they were effectively operating as agents, resulting in the closure of one franchise. John Smart, a director of the main franchise operator, says it is one of the reasons the Invercargill head office went into voluntary liquidation earlier this month. Smart told the Herald on Sunday the company was reorganising itself as a cooperative, and the Invercargill liquidation would not affect other offices. He claimed that the REINZ was using "bully tactics" to fight competition from newcomers. As far as he was aware no customers had lost money by paying for services that had not been delivered. ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees. Free Report www.accumulate.co.nz Call 357-8843 Now ----------------------------------------------------------------------------------------------------------------------- Not all the newcomers think that the real estate agent is a dying breed. The most recent entrant to the property sales market, The Joneses, is a licensed agent and member of the REINZ. It aims to offer a better service, says former Vodafone director Chris Taylor, one of the founding partners. The Joneses sells homes at a flat fee of $7995 including GST but, as with traditional agents and unlike the private-sale marketing companies, this is payable only if the property sells. Taylor says the commission-based system operated by traditional agents is fundamentally flawed and encourages bad practice. The Joneses pays its employees salaries rather than commission but they are invited to become shareholders as motivation to perform. The arrival of The Joneses follows the launch in New Zealand 18 months ago of Australian-based fixed-fee agency Go Gecko, which aims to undercut conventional agents with fixed charges. Anecdotal evidence suggests that private sellers stumble when it came to negotiating with purchasers. "Private sellers tend to have rose-tinted view of being able to sell privately. When it comes down to negotiation they don't have the skills or aptitude to do it." Around 10 to 12 per cent of total property transactions in New Zealand are private sales. Home sellers may be tempted to side-step all outside agents and marketing firms. Lindsay Lloyd, a former chair of the property section of the New Zealand Law Society, says he is seeing more private sales than in the past. He urges vendors to take legal advice before starting the process. It is vital to ensure that the property is accurately described in documentation to avoid potential actions for breach of contract. ------------------------------------------------------------------------------------------ We Buy Houses as is where is, no commission, no fees.