A generational change in buying and selling property

by Alistair Helm in


Whilst marketing a property for sale recently, the owners casually showed me the advert for their property when they bought it back in 1993. A quarter of a century ago. A generation ago. It’s amazing how time moves on and things change.

The advert got me thinking just how much has changed in the process of buying and selling real estate over the past 25 years.

The leaflet, an A4 flyer was very likely the primary method of marketing back in 1993. A single page with one photo, photocopied and distributed to interested parties; available at the office of the real estate agent and at the open homes. There was not internet, no portfolio of professional photography with drone aerial images and video walk-through to allow people across the world to virtually experience the property.

To be made aware of this property’s status of being ‘on the market’ required eager buyers to visit the real estate office and / or read the Saturday newspaper or pick up the local property magazine.

Advertising back then would certainly have relied upon a window card in the office, with the photo of the house, and by photo, I mean a real photo processed and printed on photographic paper. One photo would probably have sufficed.

In addition to the open home, prospective buyers would have likely been chauffeured around the neighbourhood in the local agent’s car, a critical requisite in those days. Mobile phones and laptops were yet to become ubiquitous.

As for property information available to buyers. This was probably limited to the address, section size and number of bedrooms as the flyer clearly shows.

12 Waterview Rd 1993.png

This brief overview was probably further shortened and simplified into the newspaper advert – something like this:

Devonport – chtr family villa, 3brm, 504 section N facing. $255,000 Tel. Smith R 445 2243

An amazing 89 characters. Far shorter than a pre 2017 tweet and more a txt msg than an advert. But don’t forget in those days newspaper advertising was sold by column inches.

There was no market statistics readily available to assist buyers. At the the time with the Real Estate Institute had only begin collating property sales data a year earlier, so prospective buyers would not be able to tap into market trends nor any version of Homes.co.nz with an estimated property valuation. Buyers had to call upon the expertise and experience of the local listing agent. As to the condition and integrity of the property, no LIM would be provided. If a prospective buyer was keen they could visit the local council offices in the village and actually look through the property file for the address which were held in large ring binders and contained copies of all the documents the council held on the property – photocopy charges would apply.

So much has changed but at the core of the process the local agent role has not changed, an agent guiding, advising and supporting the seller remains central and core to the facilitation and negotiation between seller and buyer. Sure the market price of such property has changed; 25 years of Auckland price appreciation has seen to that, however be grateful for what you wish for as the mortgage rate back in 1993 was over 9%, and had been over 20% in the prior decade.


Real estate marketing – create a local presence through data

by Alistair Helm in


reports.jpg

I am embarking on my new career as a newly licensed real estate agent and looking to create a point of difference in my local market. This challenge is faced by literally thousands of new salespeople each year in NZ.

In 2017, there were 2,084 new license applications received by the licensing authority – the Real Estate Authority. That’s over two thousand aspiring new salespeople prepared to challenge themselves to make a career in real estate. The hard fact is that around half of all new salespeople fail to make it to their first anniversary. It is, as I have outlined before, a highly competitive industry; an industry where tenure and relationships hold huge value and getting started is a massive uphill challenge.

So set against this backdrop, I have been mapping out my own strategy as to how I am going to create a local presence in my own market – the Auckland suburb of Devonport. I want to share my approach, as for many years in my prior roles at both Realestate.co.nz and Trade Me I have advocated the importance of digital profiling as a means to build presence and to be found online; as prospective customers actively prospect for you and your skills; in stark contrast to the time-honoured tradition of real estate prospecting via the well-trodden path of door-knocking and cold calling.

My strategy is to position myself around knowledge and insight in the property market. Sounds familiar! As I am sure most real estate agents would propose that they can reference this positioning quoting the latest REINZ of QV stats on the property market from a national or regional perspective. However I am going for a more tightly defined hyper-local market of my suburb. I want to be recognised as a local expert able to talk confidently and write articulately about the trends of the hyper-local property market segmenting house sales separate from units sales and from townhouse and apartments sales.

In addition to sales stats and the median prices I am going to analyse and comment around the trends on the inventory and new listings in the suburb by property type.

This is a tall order and requires a lot of data analysis, but I judge that to establish this level knowledge and insight is critical to creating a highly differentiated credible and trustworthy platform in the minds of my prospective customers.

I’ve spent the last couple of weeks putting all this together into a single site that I have created. A specialised property website for Devonport and I am launching it now

Devonportproperty.nz

The site is a visually rich destination with a clear focus as a call-to-action of a monthly property report, added to which there are tracking charts that demonstrate the key trends by property type setting out the last 5 years.

I have combined this rich data and commentary with a visually engaging design which allows me to showcase the images of Devonport – all of which are my own photo collection, taken as I have walked the streets of Devonport over the past months. It’s great to combine the two passions of property analysis and commentary with a passion for photography.

At this time as I am still awaiting my full license to practice real estate so the "about" section merely profiles me, but once officially licensed I will be clear as to my role as a licensed real estate salesperson.