If you want personal service when buying, now is the time as there are more agents than listings. How will they pay for the leases on their Teslas and BMWs?

https://www.stuff.co.nz/national/126470732/more-real-estate-
agents-than-homes-for-sale-in-nz

sparkychap - 2021-09-25 07:56:00

Great time to sell the dogs.

pcle - 2021-09-25 09:23:00

That's not surprising. The trouble is as the article stated, people are not selling as they fear they won't be able to buy another house in this tight market. I'm trying to buy after selling and most houses are being sold by investors, elderly moving into retirement homes or families who have built.

catdog68 - 2021-09-25 11:25:00

I have found agents more helpful lately phoning back with more information.

ash4561 - 2021-09-25 11:51:00

ash4561 wrote:

I have found agents more helpful lately phoning back with more information.

Obviously desperation sinking in.

sparkychap - 2021-09-25 11:54:00

They never know who could put a property there way and even though I have nothing at the moment I have sorted those I don't like out. Theres some I don't mind that I could recomend to someone. Not specifically just recomend I have character profiled them and I don't bother the ones I like as much as the ones I would never use.

Edited by ash4561 at 4:19 pm, Sat 25 Sep

ash4561 - 2021-09-25 16:12:00

Theres nothing new in the article. Many agencies work on the 3/3 theory 1/3 of the sales staff are coming 1/3 are current and 1/3 will be well gone within 12 months time . Commercially its a good theory as the industry has a 65% sales staff turnover every year. Its tough on young married couples who get sucked in by the agents glossy recruitment stories, quickly lose the $14000 Mum and Dad lent them to get into the industry.They end up on the real estate scrap heap with no pyschological support from the agency or the industry.Things are not as rosey out there as many may think several franchise offices have disappeared and many are trying to survive with just 2 or 3 successful people and 10 or 12 tryers.The biggest focus for any agency manager is recruit, recruit ,recruit...

patriciamay1 - 2021-09-26 21:08:00

Where do you get that figure go $14,000 to get into the industry from?

fergus14 - 2021-09-27 12:23:00

fergus14 wrote:

Where do you get that figure go $14,000 to get into the industry from?

Car for cruising around to listings: $12,000
New iPhone for all the buyers calling: $1,200
Stylish new jack, slacks & shiny shoes: $800
Sitting the exam: $150.

pcle - 2021-09-27 14:39:00

Let's hope it's cheaper to buy an agent than a house.

headcat - 2021-09-27 16:24:00

fergus14 wrote:

Where do you get that figure go $14,000 to get into the industry from?

I would
suggest you've been in the industry long enough to know that costs from obtaining salesperson certificate to scrapheap will quickly see $14000 go. With more salespeople than listings its inevitable around 2/3 of salespeople will fail .Anyone contemplating entry into the industry needs to take a range of advice. Go talk to a conveyancing lawyer an accountancy practice your Bank relationship manager. Ask yourself can I survive 6 months with no income, with commission at a low level of around 2% could I survive on next to no income. Tough business the people who snipe about cars and so forth have obviously never been in the business.Rewards are very hard earned.

Edited by patriciamay1 at 4:29 pm, Mon 27 Sep

patriciamay1 - 2021-09-27 16:25:00

Personal anecdote only obviously, but have had a handful of Estate agents in Rolleston (where I last purchased, late last year) who have recently contacted me and expressed to me personally that they are currently desperately short of listings.

Edited by cognition at 4:49 pm, Mon 27 Sep

cognition - 2021-09-27 16:46:00

We have no new agents joining us as there is a waiting list. I have been there over 12 years now. Its a family owned company and we don't charge huge fees so we always have ample listings, even in this market. It must be very hard for a lot of other agents to get listings at the moment as its a runaway price market that's for sure.

fergus14 - 2021-09-27 16:53:00

It helps if you have a wealthy partner who can support you until you find your feet

funkydunky - 2021-09-27 16:58:00

Yes that's true! Can you find me one of those lol

fergus14 - 2021-09-27 19:00:00

funkydunky wrote:

It helps if you have a wealthy partner who can support you until you find your feet

The wealthy partner will soon be a not so wealthy partner although having said that there are still plenty of salespeople still floundering around trying to find their feet after many years in the business. Many have other work. Got a surprise at my fathers funeral , when the hearse pulled up it was being driven by a fellow salesperson..

patriciamay1 - 2021-09-27 19:36:00

patriciamay1 wrote:

The wealthy partner will soon be a not so wealthy partner although having said that there are still plenty of salespeople still floundering around trying to find their feet after many years in the business. Many have other work. Got a surprise at my fathers funeral , when the hearse pulled up it was being driven by a fellow salesperson..

He was a soul agent. He had his gouls.

johnston - 2021-09-27 20:25:00

johnston wrote:

He was a soul agent. He had his gouls.

Hard to get a good funeral director though, it's a dying art.

sparkychap - 2021-09-27 20:34:00

sparkychap wrote:

Hard to get a good funeral director though, it's a dying art.

Hard to get a good funeral celebrant to, the one recommended to us by the funeral director when my father passed away in April, took the opportunity entrusted to her to tout for business for her real estate agent husband

Edited by jascas at 8:49 pm, Mon 27 Sep

jascas - 2021-09-27 20:49:00

Disgraceful hope you let the funeral director and the celebrants registrar know.

patriciamay1 - 2021-09-27 20:53:00

patriciamay1 wrote:

Disgracefu-
l hope you let the funeral director and the celebrants registrar know.

Yes I certainly did let the funeral director know

jascas - 2021-09-27 21:05:00

Biggest BS non essential unaccountable unethical industry in NZ, they take a huge cut for doing bugger all, even less than they used to really . Time for a huge cull, in fact time for a huge shakeup as to how property transactions take place generally.

franc123 - 2021-09-28 08:22:00

franc123 wrote:

Biggest BS non essential unaccountable unethical industry in NZ, they take a huge cut for doing bugger all, even less than they used to really . Time for a huge cull, in fact time for a huge shakeup as to how property transactions take place generally.

Otherwise, all okay with the real estate agent industry?

I assume you understand agents are highly regulated and it is not compulsory to employ an agent.

Edited by johnston at 8:57 am, Tue 28 Sep

johnston - 2021-09-28 08:56:00

I do understand, thats why I said they're non essential. Highly regulated lol, Barfoot n mouth disease is the other big issue going on here.

franc123 - 2021-09-28 10:17:00

franc123 wrote:

I do understand, thats why I said they're non essential. Highly regulated lol, Barfoot n mouth disease is the other big issue going on here.

Are you saying they are not regulated?

At least you have now grasped the relationship between agents and their clients is voluntary.

johnston - 2021-09-28 10:23:00

franc123 wrote:

Biggest BS non essential unaccountable unethical industry in NZ, they take a huge cut for doing bugger all, even less than they used to really . Time for a huge cull, in fact time for a huge shakeup as to how property transactions take place generally.

I was more than happy with my 1% Salesperson, couldn't be bothered doing it myself and he was well worth the money.

kacy5 - 2021-09-28 14:18:00

I used to work at a major North Shore RE office a few years back. One day I overheard the boss and a client having a conversation just down the hall from my office. The client asked how was business, and the boss replied that it sucked because every man and his dog was "clipping the ticket". I nearly choked on my sushi.

funkydunky - 2021-09-28 17:28:00

franc123 wrote:

Biggest BS non essential unaccountable unethical industry in NZ, they take a huge cut for doing bugger all, even less than they used to really . Time for a huge cull, in fact time for a huge shakeup as to how property transactions take place generally.

You can phonw them 7 days a week 24 hours a day for a chat though.

ash4561 - 2021-09-28 22:13:00

johnston wrote:

Otherwise, all okay with the real estate agent industry?

I assume you understand agents are highly regulated and it is not compulsory to employ an agent.

It might be regulated but we read on here all the time about the unethical dodgy ones still alowed to operate though.

ash4561 - 2021-09-28 22:18:00

just bottom feeders hopping to cash in about on the same level of used car salesmen

dayco-nz - 2021-09-29 22:15:00

dayco-nz wrote:

just bottom feeders hopping to cash in about on the same level of used car salesmen

I have always found used car salesman ethical and honest compared with real estate agents.

ash4561 - 2021-09-29 23:48:00

In two instances we wrote the commissions off ,in each instance the vendors situations were very serious not open for discussion here How many of you have received a new car from your car salesman.
All I'm pointing out is there are very good agents just as there are good car salesman.Sitting in front of your computer screen putting the boot into agents ad hoc at every opportunity is a little unfair don't you think..

patriciamay1 - 2021-09-30 00:17:00

ash4561 wrote:

It might be regulated but we read on here all the time about the unethical dodgy ones still alowed to operate though.

You read about a tiny percentage of the 15,000 agents. Some of those you read about like, Drever for example, have their licence cancelled or suspended. Those agents are hardly representative of the industry.

The industry is a vastly different beast than it was a decade ago although there is still room for improvement.

johnston - 2021-09-30 06:41:00

patriciamay1 wrote:

In two instances we wrote the commissions off ,in each instance the vendors situations were very serious not open for discussion here How many of you have received a new car from your car salesman.
All I'm pointing out is there are very good agents just as there are good car salesman.Sitting in front of your computer screen putting the boot into agents ad hoc at every opportunity is a little unfair don't you think..

Without detracting from your actions the comparsion with the car dealer isn't accurate. The car dealer owns the car, whereas the agent gave away their services, not the property.

That said, well done all the same.

johnston - 2021-09-30 06:59:00

I think that has always been the case as I think it was posted on here years ago that 20% of agents sell 80% of houses.

cassina1 - 2021-09-30 15:28:00

johnston wrote:

Without detracting from your actions the comparsion with the car dealer isn't accurate. The car dealer owns the car, whereas the agent gave away their services, not the property.

That said, well done all the same.

I think the poster was discussing the value of what they forfeited, which may have been similar to the price of a new car.

committed - 2021-10-02 06:05:00