By CHRIS DANIELS
The world of the real estate agent is changing, despite the "open home" flag still being propped up under the back wheel of the car and the fistfuls of business cards handed out to prospective clients.
The internet revolution has hit the industry with a bang, proving
a boon for buyers, sellers and commission-hungry agents.
The jargon of property advertising remains - there are still "real fixer-uppers" and "an entertainer's delight" - but homeowners are increasingly using the web to whittle down the number of homes they need to look at, sorting the wheat from the chaff through online tours and advertising before even going near an agent.
Lisa Finucane, who has just bought a new house in the central Auckland suburb of Pt Chevalier, discovered that using the internet to track down suitable properties gave her the inside running.
"I had a reasonable idea about where I wanted to live," she says.
Coming from Grey Lynn, she wanted to stay in that suburb or in nearby Pt Chevalier.
"To be honest, I thought the place where I wanted to live might be a bit expensive.
"I was just playing around on the search engines, trying to find real estate. The Pt Chev one came up with Ross Brader, who does a lot of work around that area."
Using search engines with keywords such as "real estate New Zealand and "houses Auckland", she was able to quickly find Brader's home site.
She typed in the area, price range and type of house she was interested in - a minimum of two bedrooms and not an apartment.
A week or so later, she received an email from the office of her friendly Pt Chevalier real estate agent saying there was a place available that just might suit.
"It flicked back when this place came on the market - in fact, the week before.
"It was good. It gave me the heads-up about this place, which wasn't an open day - they were having viewing by appointment."
As far as Finucane is aware, the property had not yet been advertised, either in the newspaper or online, when she received the email.
"I made an appointment to see it on the Saturday morning.
"I was the first person to see it and I put an offer in by the evening."
Graeme Woodley, national president of the Real Estate Institute of New Zealand, says using the internet to find properties is working for buyers and agents.
"We are finding that purchasers are selecting online, so they will have a look at the overall property range and property price, then select three or four properties to target."
In the past, says Woodley, home buyers would spend a lot of time driving round with real estate agents, checking out a huge number of properties.
Using the internet to market properties means the initial donkey-work is becoming rarer, he says, but it has not replaced the face-to-face conversation and the actual physical inspection.
Occasionally a buyer, usually from overseas, will buy a property online without even visiting it.
"It's quite strong in some of the holiday and retirement resorts like Mt Maunganui, Paihia, Nelson, Wanaka and Queenstown," says Woodley.
"There is quite strong demand from overseas purchasers; those people looking for holiday properties."
While most are likely to take an option on a property, then inspect it before buying, a few will buy after discovering it online and viewing a videotape.
"The percentage of properties that have sold through internet inquiry is going up every year," Woodley says.
"Two or three years ago it was 7 to 10 per cent. I would imagine that would be going up quite considerably."
While there is not yet any firm research to confirm the number, Woodley estimates that about 15 to 20 per cent of first inquiries are now made online.
Registering buyer interest online then cross-referencing it against listings is becoming increasingly popular among agents, he says.
They may keep a database of potential buyers, emailing them as soon as a suitable property becomes available.
That is how Finucane found out about her Pt Chevalier home - she got in quickly and the owners did not have to put up with the hassle and expense of open homes and weeks of advertising.
Another new development that began in Britain this year is www.reservethathouse.com.
It allows you to let a home-owner know that you are interested in buying the house - whether the owner wants to sell or not.
Anyone who sees a house he or she wants to reserve pays an annual £5 ($15.90) membership fee to join. They can register interest in properties they have seen, and like, on the website.
A letter is sent to the owner of the house saying that someone is interested in buying it.
The site attracted more than 20,000 visitors and 1000 registrations in its first week.
British house-hunters can register interest in as many properties or streets as they want.
The only cost is the annual membership fee and a charge each time a letter is sent to homeowners.
Portals:
Open2View.com - Directs visitors to three of the big real estate firms: Barfoots, Harcourts and Ray White.
The Official Property Directory of REINZ - Soon to be the primary portal for all the members of the Real Estate Institute.
Real Estate Institute NZ
Property Links
realestate.co.nz - lists of properties for sale, though at least one checked by this writer had been sold six months ago.
Some agents:
Century21
First National
Harveys
LJ Hooker
Professionals
Barfoot & Thompson
Harcourts
Bayleys
Ray White
Premium Real Estate
NZ Real Estate for Sale - small selection of "premium" holiday-style homes and land.
Sack the agent! Sites for private sellers:
Private List
Vendor Sale
Private Sale
Valuations/Mortgage calculators/ Resources
Quotable Value - online valuations and property information.
NZ Property Index
Mike Pero
E-Loan
Find your home site without the legwork
By CHRIS DANIELS
The world of the real estate agent is changing, despite the "open home" flag still being propped up under the back wheel of the car and the fistfuls of business cards handed out to prospective clients.
The internet revolution has hit the industry with a bang, proving
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