Day 15… I hope you and your families are doing well and not too adversely affected. Apologies for skipping this report last Saturday, I’ve actually been meaning to move it mid-week for quite sometime and as it turns out, lockdown is proving to be perfect for ticking off all the “been meaning to do that” jobs.
Level 4 is pretty limiting for Real Estate agents, and after the initial rush of work to wrap up campaigns and get things sold, the industry is almost effectively now on hold. We can prepare for Level 3, and we can help with some things and we are here if you needs us, but most of you don’t right now. So are taking the time to recharge and get ready for what we believe will be a very hectic run to the end of the year, from the moment we drop to L3.
This Week’s Wrap
– The Short Story
– Should I list my home in Level 4?
– Listings & Stock Availability
– Auction Results
The Short Story
Cooper & Co have called 29 Auctions so far in Level 4 and we’ve sold them all. 100% under the hammer is pretty crazy, but there is a reason – more on that below in the Auction section. In other real estate news, stock levels have plummetted as expected and new listings have pretty much dried up, enquiry is still high and the interest is there, but most people are just waiting now for Level 3 – buyers and sellers.
Should I list my home in Level 4?
In short, no, not if you can avoid it. Our promise is to always provide advice for your situation, not our motivation. And the odds of being able to achieve a premium price in Level 4 reduce significantly.
Anyway, I’ve written a big section explaining why below if you’re interested, and what we can do for you if you really can’t wait. If you can wait, now is a great time to get ready for market, and we can guide you through that process and start getting things prepared whilst in Level 4.
Otherwise, kick back, keep calm and be patient. The market will be fine once we get to L3 and below.
Listings & Stock Availability
Just as expected stock is plummeting as a result of the lockdown. Properties are still selling, although at a slower rate now, but many are being postponed from marketing or withdrawn and will be re-listed at a later date. So look out for a surge from Level 3 onward.
890 on oneroof.co.nz – 951 last week
854 on realestate.co.nz – 909 last week
842 on TradeMe – 902 last week
100% clearance rate so far in Level 4 – Pretty amazing stuff, the competitiveness and energy at most of the auctions was really high, the majority still had multiple bidders, and many still sold well above what we expected. Unlike the first L4 lockdown where many panicked and stopped buying, this one hasn’t changed peoples willingness to purchase one iota.
Take the 100% with a wee grain of salt, as I mentioned in my last email some auctions would have been postponed or cancelled if they didn’t have buyers registered because of the nature of how we conduct our auctions in L3 & L4. So of course the odds go up – but 100% is still pretty impressive. The way we conduct our virtual auctions is lightyears different from our biggest competitiot and much more effective in our opinion. Well not just opinion, the results speak for themselves.
Weekly Results – Since L4 Began
Harcourts C&C – 100% Clearance Rate (29/29)
Harcourts 4 Week Average – 92%
Barfoot North Shore – 70% (35/50)
Barfoot 4 Week Average – 72%
That’s it for me, remember if you ever have any questions please just give me a call.
Stay safe team!
Kris Cunningham & Team
The Cunningham Group | Harcourts Cooper & Co Smales Farm
Marketing Specialists on the Beautiful North Shore
Kris: 029 767 6801 | Office: 027 259 3603
#3 Harcourts North Shore | Top 20 Harcourts NZ & Worldwide
#1 for the North Shore Community SIX Years in a Row 2015-21
To stay up to date on a daily basis with previews, new listings and auctions, please follow us on Facebook& Instagram or visit www.kriscunningham.co.nz
Kris Cunningham & Team are all Licensed Sales People under the REAA 2008
SHOULD I LIST IN LEVEL 4?
In short, no, not if you can avoid it.
Just Keep Calm, It’ll Carry On – the market that is.
Level 4 for Real Estate is pretty limiting. No viewings, no inspections, nothing in person. We can still do things virtually and we can launch properties to market from scratch, assuming you are in the home and we can coach you to video and photograph your property to a “good enough” standard. We can then launch it and again with your help on a phone, run virtual viewings.
But is that the right thing to do? Surely you would only do that if you are under extreme time pressure to sell, and don’t believe we will be out of L4 anytime soon?
Our advice to our Vendors and potential clients – just wait and be patient, if you can. The market is going to be fine once we get out of L4, and once we can get professional photos & video, show properties in person and run open homes, we know that the chances of being able to achieve a premium price for you go up dramatically.
So unless you have time pressure, or you don’t care about getting the best price, don’t be talked into rushing to market with half baked photos, no viewings and no open homes. The market is going to be very active and just as good as it was if not better when we drop to L3 and especially L2 and below.
If you are under time pressure, talk to us, we can help. We can start preparing, ordering docs, booking photos, getting AML approval, writing scripts and finalising your marketing ready to just add photos. We can even give you advice on how to prepare for photos via video call, so that when we go to L3 you are locked, loaded and ready to get your photos and hit the market in a matter of days.
If you aren’t under any pressure but want to list as soon as possible, I’d still suggest doing all of the above now if you like. Or we can do it for you later in person – that’s up to you.
You see it doesn’t matter to us when you list your home – next week, next month, next year – when you sell is YOUR decision and YOU need to be comfortable with it, not pressured into it by a real estate agent wanting a listing. We will always give you our honest opinion about the market and timing, and right now in Level 4, the odds are it isn’t the best time.
Our Promise – Advice for your situation, not our motivation. Always.
16 Macbeth Court, Milford
Flat Section Ready To Build By Lake Pupuke
AUCTION – Thursday 16th September, 06:30PM
VIEW MORE HERE
SOLD UNDER THE HAMMER – W/E 29 AUGUST
Riverhead 3 Turpin Road SOLD PRIOR
Te Atatu Peninsula 1/9 Mayburn Road $1,105,000
Devonport 2/14 Ewen Alison Avenue $910,000
Hobsonville 12/28 Nevill Road $842,000
Glenfield 17 Noeleen Street $1,255,000
Hillcrest 55A Sylvia Rd $915,000
Torbay 28B Marina Road $950,000
Beach Haven 52 Kia Ora Road $1,250,000
Milford 2/15 Wolsley Ave $2,360,000
Albany 6B Twin Court SOLD PRIOR
Unsworth Heights 34 Santiago Cres $1,415,000