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Thread: Real estate agents fees in NZ.

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    nickydwuk's Avatar
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    Default Real estate agents fees in NZ.

    Has anyone got a rough idea how much a seller would be expected to pay upfront for any marketing when they put their house on the market and what is the 'normal' estate agents fees? We are considering selling up to move nearer town but would like a rough guide as to how much it will cost us prior to sale (so we can start saving when OH gets a job!!).
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    I think fees can range between 1% and 3%. If you want to invest $25 you could take a look on here to check out what the recommendations are regarding agents and their fees. It would have been helpful if agents showed their fees on their websites but I guess they don't want the competition to know what they're charging.

    Have you thought about trying to sell it yourself? You could save thousands. There's quite a few websites that offer such a service and provide all the details to DIY. I will dig a few up if you're interested although I would think Trademe would have the most hits as it's a well recognised and very popular site that allows private sales. You have to register to advertise and it costs $199 until it's sold. Bearing in mind that property prices are dropping now, you would need to maximise what you can get for the house and not give part of it away to an estate agent.
    Mother Bear

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    Thanks MB. We had thought about selling it ourselves but as we are new to the NZ housing market we're not to sure of the process plus I don't have the time with working full time to really market it properly.
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    Hi,

    As said above your looking at fees of between 1 and 4%. Most real eststate firms offer between 3% and 4% commissions. Selling a home yourself in this market is hard. The honest truth is it is a buyers market here now and is difficult to sell to the buyer. They have huge choice and will just go to the next one if they feel its better. They also have agents always ringing them and telling them what they consider to be a good buy. A buyer will 90% of the time not pay the price you ask. If you are wanting to sell your house yourself read my blog and have a look around there. Lots of information for you to look at and try and use.

    As for advertising money. Use it wisely. You can throw away a lot of money for very little effort. Try and broadern your search further than just trademe if you can. Trademe does offer the most hits for a website in New Zealand, But many of the people looking on trademe are usually out for a bargin. If you use an agent make sure you get one that is up o date with the internet. 80% of buyers start searching for property on the internet. If you are on a multitude of websites I say this is a good start. Investing in professional photos such as open2view you are spending money in the right place. It is hugely important to have the best photos possible when marketing your home. For print meadia there is many options avaliable but you really have to look whats avaliable in your area. If you are serious about selling have a slightly bigger add than the normal adverts you see in the publication. It just give you a leg up in terms of noticablity. For a total price again it depends on the agency you may or may not use, the time frame in which you want to sell, and how much promotion you want to do. But you could be looking at a couple of thousand for markeing. (I just sold my house and had a budget of 3,000.) But you only spend what you need to to sell your house.

    The hardest part is pricing your home to the market. I dont want to go into this too much but the worst thing you can do is overprice it and be spending huge money on promotion for little return. As I said abve its a buyers market out there and buyers are switched on and know what things are worth more than ever. If yours is off the mark it doesnt matter how much advertising you do you will not get a huge amount of buyers through.

    I hope this hels a little. Use my blog, there are articles answering all your questions in there, and if you do want any further help or have any other questions just ask and I will try help further.

    Deon

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    Some good info there swiggs. Many thanks.
    Nursing Registration sent 5th August 2007
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    Hiya, Only just seen this thread - sorry!

    Must say, I was a little shocked after all the research you guys did .. and the commitment of buying your house first, but I can understand - I found the commute from Waikuku beach a little too much and that was only 30mins each way.

    Do you still feel the same, after having all your bits arrive from the UK?

    If so, there is no harm in inviting a few real estate agents to not only value your property, but to also run through their costs etc. With renting and buying we've found the agents to be far less smarmy here that back home - and do genuinely seem to care (or they are VERY good at their jobs).

    All the best in whatever you decide,

    Lou
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    Be very, VERY careful of estate agents. They are all your best friend in the world, but will lie through their teeth if it makes a sale. We had a run in recently with one who lied about contract conditions, and we nearly ended up with a worthless dump of a house. The next agent we dealt with was all sweetness and light and couldnt believe how we had been treated, and she lied about the exact same thing!! She soon changed her mind when I hauled her up about it, and she got a piece of my mind.

    I don't care who you know or how they've treated you, they are all the same underneath. The reason is simple, people dont survive the industry if they are honest, it's just too hard.

    I'm in the middle of compiling a load of information about house buying in NZ, what to look for in houses, misleading contract wording and the common tricks of agents. I know this post is about selling, but if you're buying just remember that an unconditional contract to purchase a house means you are buying it, whether you like it or not. Even a contract with conditions can be a trap if not properly worded. There are no ways out, you are legally obliged to buy!!
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    Quote Originally Posted by zummerzet_lou View Post
    Hiya, Only just seen this thread - sorry!

    Must say, I was a little shocked after all the research you guys did .. and the commitment of buying your house first, but I can understand - I found the commute from Waikuku beach a little too much and that was only 30mins each way.

    Do you still feel the same, after having all your bits arrive from the UK?

    If so, there is no harm in inviting a few real estate agents to not only value your property, but to also run through their costs etc. With renting and buying we've found the agents to be far less smarmy here that back home - and do genuinely seem to care (or they are VERY good at their jobs).

    All the best in whatever you decide,

    Lou
    Thats what we will probably do. Just to get an idea. The house is not the problem - it is more the issue of getting to work when there are 3 of us needing to get there. OH was hoping to be able to pick up something more local but that doesn't seem to be the case and as finances are a little tight this seems to be the best option. But if selling is going to cost us a fortune then it might not be. I am just so confused and up in the air at the moment.
    Nursing Registration sent 5th August 2007
    Job Offer 25th September 2007
    Nursing Registration received 28th December 2007
    Submitted EOI 3rd January 2008 with 150 points
    Selected 17th January 2008
    ITA Received 31st January 2008
    ITA submitted 25th April 2008
    Approved in Principle 3rd May 2008
    Blue Stickers arrived 13th May 2008
    Flights booked for 19th Sept to Christchurch

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