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  • Trade Me Property adds map based search — Properazzi
    service of Twitter clearly shows Now the cynicism may be from a geek perspective as both Layton and Dave are certainly respected in the realm of NZ Geek Society However as Dave rightly asked me how many years ago did we realestate co nz do that the answer is 6 years ago January 2008 as this article I wrote on Unconditional testifies I certainly go along with Layton s view that the solution is well executed something that Trade Me excels at delivering a great user interface great design and an intuitive feel However I keep coming back to this fact that this is not so much a step forward as a very long overdue catch up To be at least taking a step forward Trade Me should have executed this service with the ability to draw your own search area as many real estate websites offer around the world This example from Trulia in the US highlights this capability allowing you to be very granular and definite in your search area for property in this case no more than 2 blocks from the beach offering just 7 properties that suit my specific requirements Another even better execution I found

    Original URL path: http://properazzi.co.nz/opinion/trade-me-property-adds-map-based-search (2016-04-27)
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  • Can real estate really be disrupted? — Properazzi
    in the market After all who cannot relate to the strap line of Flat Fee Not Fat Fee their flat fee at the time was just 7 999 any house anywhere In the UK only this week we have seen a new challenger announce a new service of real estate yet to be launched which could be a serious disrupter in the market welcome easyProperty Leveraging the ubiquitous brand of easy as in easyJet easyCar easyHotel easyBus easyPizza you get the idea this new company is seeking to shake up the real estate industry starting with property management and then addressing sales From sketchy information so far the principle seems to be that easyProperty will charge 0 commission on sale of property looking to earn income from referral and ancillary services wrapped around the processes of real estate That is certainly a possible method for the UK where agents do not undertake such an extensive service as in NZ but then they only charge on average 1 8 commission as compared to NZ commissions of 3 As well as the marketing strength of the easy brand which claims a 99 brand awareness in the UK the new company has secured as Chairman Harry Hill who was the former boss of the largest real estate firm in the UK Countrywide as well as one of the founders of the leading real estate portal Rightmove I would judge this is a serious venture and has the funding to get this new venture off the ground as to the full details of how the service will work we will just have to see in the coming months What relevance could this type of move have for NZ Well I would have to say that there are two NZ brands that in someways mirror

    Original URL path: http://properazzi.co.nz/opinion/can-real-estate-really-be-disrupted (2016-04-27)
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  • New boundary view - a step forward down a narrow lane! (Updated) — Properazzi
    the past there was a degree of a partnering of the two major property websites with the two property data companies Trade Me with Property IQ and Realestate co nz with Terralink However effective 1 January 2014 PropertyIQ NZ Limited and Terralink International limited officially came together as CoreLogic NZ Limited This came after the Commerce Commission cleared the merger between the two businesses in November So now there is effectively only one player in town when it comes to detailed property mapping and if Trade Me has secured CoreLogic as a partner as this latest innovation suggests then it leave Realestate co nz out in the cold Far from the principle of how the Commerce Commission saw this situation In the documents relating to the merger and in the findings in favour of the merger the Commerce Commission stated that The Commission considered that PropertyIQ will continue to face competition from existing and emerging competitors in these markets Furthermore we consider that new competitors entering these markets are able to access the key datasets through negotiations with local Councils and other sources and will also constrain the merged entity said Commerce Commission Chairman Dr Mark Berry Certainly when it comes to general mapping there are numerous suppliers Google being the main service used by both property websites however when it comes to boundary details this is a very local mapping service here in NZ and drawing this detail on maps will continue to be done by one company as it was in the past the main difference is that in the past 2 competing companies could sell this service now there is only one player to offer this service in my view lessening competition and denying the consumer a valuable service across their property website of choice Updated Friday

    Original URL path: http://properazzi.co.nz/opinion/new-boundary-view-a-step-forward-down-a-narrow-lane (2016-04-27)
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  • Vendor Conditioning - how real is it and what does it mean? — Properazzi
    the very principle that the agent is working for the best outcome of the vendor I know it is subtle but it is an important distinction He stated that in our case when our agent provided what I judged to be incredibly valuable insight into the prospective buyers our agent was in reality manipulating the facts he was he proposed choosing to be selective in the feedback he gave us choosing to only share with us the buyer feedback that downplayed the value expectation and thereby kept from us the more aspirational feedback which might have indicated that our property was worth more than he as the agent had originally indicated The logic he put forward was to ensure that we set a lower reserve at the auction so that firstly the property would sell under the hammer and secondly that the sale price would be above this conditioned expectation and therefore he the agent would look to have over delivered This is a very interesting comment and supposition I can clearly see the potential for this to happen and in fact I can find no way of refuting it as a generalised rule I can however categorically state that in our situation the original assessment we had made of the market value of our property baed on my knowledge and experience even before we engaged with the agent was very close to the final sale price we achieved Further the final sale price was at a level that I would describe as a very nice price as opposed to at one extreme OK and at the other extreme highly delighted So whilst I would defend my comments and defend our chosen agent and state that we were not the victims of vendor conditioning I am left with a view

    Original URL path: http://properazzi.co.nz/opinion/vendor-conditioning-how-real-is-it-and-what-does-it-mean (2016-04-27)
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  • Property musings on Facebook - 3 October — Properazzi
    on Facebook over the past week short spontaneous insights and observations which I felt needed immediate discussion and didn t warrant long form articles written Auction success is a hot topic again however it depends how you calculate them Post by Properazzi Textbook marketing Post by Properazzi More interesting moves in the US property portal space Post by Properazzi Posted on September 28 by Alistair Helm Categories Facebook Tags News

    Original URL path: http://properazzi.co.nz/opinion/property-musings-on-facebook-3-october (2016-04-27)
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  • New challengers emerge to take on Realestate.co.nz & Trade Me Property (Updated) — Properazzi
    as of today they have 10 listings of which 1 is rental Now to be fair they only launched today so maybe we should hold off to see how they go in the coming weeks When it comes to user experience I have to commend this team which is based in Queenstown They have built a very appealing site in terms of design very clean focused on images and with clear details about properties The image sizes are huge and allow full screen presentation which can make a very basic house look great Not only is the design to be applauded they have implemented unique functionality in their compare feature which allows for the side by side comparison of your saved properties When it comes to brand name I have to hold my head in my hands Rent or Sell It has to be the most unmemorable name it is devoid of personality and whilst it is contextual I can see why it was easy to acquire the domain name was only registered in July this year It would have been better to call it zwango co nz at least that is memorable and you can buy it for 20 today Overall I think they have the right approach to design but their future relies on hard work to get content My advice would be go and see LJ Hooker and First National as they seem keen to support new sites with content I would also caution them to be honest when it comes to content On their home page they have what they title Client Testimonials I think these may have been ideas that they threw on a test site they have nothing to do with their business and I would have to suggest are works of fiction Updated I am grateful to an eagle eyed reader who spotted this website from the US WPResidence which is identical to RentorSell clearly showing that this is a templated out of the box website designed for property I must say that in my view it is a good design and when stacked up against the leading incumbents in the NZ market clearly shows how far this category has developed and how little we have seen in innovation and user design in the NZ market it is long overdue True Commercial This new site is very different from the other two in that it is not an entrepreneurial start up built with investor money and life savings This is a site built with the muscle of APN soon to be renamed NZME publisher of The New Zealand Herald In terms of content the site is well developed having close to half the full complement of listings on the market This is not surprising for the Weekend Herald print supplement has for years been the primary marketing medium for commercial real estate and thereby provided the necessary existing relationship with the real estate companies In terms of user experience the site could not

    Original URL path: http://properazzi.co.nz/opinion/new-challengers-emerge-to-take-on-realestateconz-trade-me-property (2016-04-27)
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  • Property musing on Facebook - 26 September — Properazzi
    short spontaneous insights and observations which I felt needed immediate discussion and didn t warrant long form articles written Valuable advice for anyone thinking about buying off the plans Post by Properazzi Managing your brand reputation in the real estate industry Post by Properazzi Secure your domain name when the new nz comes into effect Post by Properazzi What s the best approach to selling your home Post by Properazzi

    Original URL path: http://properazzi.co.nz/opinion/property-musing-on-facebook-26-september (2016-04-27)
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  • Real estate advertising - classic snake oil tactics — Properazzi
    use an likeness of Albert Einstein without permission The advert is far too focused on hypothetical promotion of a money making scheme instead of being what it is an advert for new apartment developments The audacity of the advertiser to try and squeeze all the regulatory small print into that tiny advert Albert Einstein is somewhat of an iconic individual of the 20th Century receiving as he did the Nobel Prize for Physics in 1921 He is best known for his mass energy equivalence E mc2 What then is his likeness doing on a real estate advert The advert purports that Einstein had a Rule of 72 this is not factual and irrespective of that the Rule of 72 speaks to a shorthand way of assessing the time period required to double the value of a capital sum based on a simple interest rate If you divide 72 by the interest rate say 10 then in this example you get a figure of 7 2 which is the number of years required for a capital sum to double in value if the interest rate payable is 10 based on compound interest The reality is that the statement in the advert that in future years the property should be worth more much more is neither attributable to Einstein nor to the Rule of 72 Lastly GreenLight is the duly appointed exclusive licensing agent for the Hebrew University of Jerusalem who hold the rights to all likenesses in any form of Albert Einstein and it is also authorized to vigorously pursue all unauthorised uses of Albert Einstein s creations appellations copyrights right of publicity photographs trademarks and characterisations and to prosecute and maintain trademark and copyright registrations on behalf of The Hebrew University of Jerusalem So I would be very cautious about using any unauthorised images of anyone on any advert The advert is full of speculative assertions A city residence can now be purchased with only 1 000 down and nothing to pay for 14 months and similarly After finance charges you can have other people paying it off for you Nowhere does it say which property and where and for how much and what type of property you might get Nor as to the risks of buying an apartment and the potential issue of arranging finance or the problems of tenancy No it sells the snake oil of make a few hundred dollars a week coming in as extra income in retirement and of course the presumption of a long term appreciating asset The advert needs to be seen in context it measures just 150mm by 90mm And as for small print the advert manages to compress 230 words of legally required disclaimers into a space smaller than the headline maginfying it as I have done below shows how bad this is In case you are interested this is what it says Disclaimer Only available when purchasing an off the plan Urba or Queens Residences apartment and only apply where

    Original URL path: http://properazzi.co.nz/opinion/real-estate-advertising-classic-snake-oil-tactics (2016-04-27)
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