Welcome to the first 2024 Olympic edition of Eagle Eye Property Insights!
1. The ball is in your court: Have you noticed some new residential real estate agencies popping up in Hawkes Bay? Tall Poppy, Co-Lab and 360 Realty just to name a few. Some of the real estate agents working for these agencies have come from other agencies. When weighing up who to list with, you need to view the pros and cons such as a smaller agency with lower fees verse a larger agency with wider market reach.2. Team NZ verse the big international players: Banks reducing interest rates have been on the tip of tongues this past few weeks. This is due to reducing overseas wholesale interest rates which the banks use to fund loans. I have heard there is also quite a bit of discounting on advertised rates through mortgage brokers.
3. You need to put the hard yards in to produce the results you want: I recently heard a radio ad “Win a free trip to Rarotonga” if you sell with a certain real estate agent. The ad went on to say that it was not a draw. I’ve also heard of promotions where your rates will be paid and you can win a hot tub. These kind of inducements suggest how tough real estate agents may be finding the current market.