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  • Should a real estate agent be paid $1.5m a year in earnings? — Properazzi
    1 350 000 a year That earning power puts them well inside the top 20 pay of CEO s in NZ as referenced from the 2011 NZ Herald CEO Pay Survey Earnings of 1 350 000 a year is the same as that earned by Simon MacKenzie the CEO of Vector a leading infrastructure company managing electricity gas and fibre optic networks with over 500 000 domestic and commercial customers it manages over 5 5bn of assets delivering an operating cashflow of 390m Earnings of 1 350 000 a year is over 100 000 more than Don Braid the MD of Mainfreight a NZ based global logistics company with sales of over 1 8bn employing 5 000 people In that financial year the company made 26m in profits Earnings of 1 350 000 a year is over 350 000 more than Russel Creedy the CEO of Restaurant Brands operating 177 stores with 3 700 employees across NZ with sales of over 300m In that financial year the company made 26m in profits Running a complex multi million multi billion dollar business across NZ and the globe is a challenging and demanding role with the responsibility for thousands of employees customers and suppliers not to say the accountability to a board and shareholders Top CEO s are paid for performance and the demands of the job They are in demand and have global value Selling houses is not let us be honest that demanding You have a handful of customers at any one time you have virtually no suppliers or employees You don t have shareholders or a board of directors to report to Bizarrely the people who monitor your performance share in your success and yet they do not directly contribute to that success save only for the real estate

    Original URL path: http://properazzi.co.nz/opinion/should-a-real-estate-agent-be-paid-15m-a-year-in-earnings (2016-04-27)
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  • Where is the best place to be a real estate agent? — Properazzi
    the workload of agents around the country to see who are the most productive who work the longest hours and how do these factors effect the true hourly rate of real estate agents I have examined the workload on the basis of the number of sales managed by agents matched to the data for average days on the market The number of new listings matched to time spent prospecting for business and finally the available inventory on the market during the year and the associated workload in supporting those clients Add the usual self management time and office time and I have come up with a total hours per agent per region Here are the findings The average annual workload of an agent in NZ is 2 033 hours This compares to a traditional employee working 9 to 5 5 days a week with holidays and stat days working 1 840 hours Agents work 5 longer in a year than most employees This drags down their average hourly income for agents to 22 14 Across the regions the scale of the workload is incredible The most industrious agents are in the Central North Island they on average work 2 775 hours per year At the other extreme the agents in Nelson seem to have it made appearing to work a total of just 1 420 hours This measure of workload is only really meaningful when evaluated as an effective hourly rate given the diversity of regional incomes as presented in the analysis of how much an agent in NZ earns The conclusion is that the best place to work in real estate in NZ would by this measure of effective hourly rate appear to be in Auckland where agents work an average of 1 557 hours per year for an

    Original URL path: http://properazzi.co.nz/insights/where-is-the-best-place-to-be-a-real-estate-agent (2016-04-27)
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  • Properazzi musings on Facebook - 11 July — Properazzi
    Subscribe Contact Properazzi musings on Facebook 11 July Here are articles posted 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 A Compelling Headline Post by Properazzi Trade Me opens up Agent Profile on Listings Post by Properazzi Posted on July 05 by Alistair Helm Categories Facebook Tags Trade me property Properazzi musings on

    Original URL path: http://properazzi.co.nz/opinion/properazzi-musings-on-facebook-11-july (2016-04-27)
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  • Properazzi musings on Facebook - 4 July — Properazzi
    spontaneous insights and observations which I felt needed immediate discussion and didn t warrant long form articles written The world opens it arms to Chinese real estate investors Post by Properazzi The real indicator of a shortage of housing is rental rate inflation Post by Properazzi Banks remain conservative over LVR restrictions Post by Properazzi Should property adverts masquerading as news stories be required to be marked as advertorial Post

    Original URL path: http://properazzi.co.nz/opinion/properazzi-musings-on-facebook-4-july (2016-04-27)
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  • LVR impact in Auckland market hidden in the data — Properazzi
    them a record for the company In November last year that total of sales over 1m was 129 a variance of 60 That increase in sales at the top end would impact the average price but the median price would be less impacted However what is more likely to impact the median price and the average price was a variance of 97 in sales of lower priced properties In November 2012 B T sold 292 properties below 400 000 this November that number was 195 Seen as a proportion of all sales in the month as the chart details below the drop is significant Clearly the monthly drop in November was significant but the trend has been established for quite a few months now as the lower end of the market as served by B T in Auckland who represent around 40 of the market has fallen away The November one month fall from October this year is more significant than either of the past 2 years indicating that the impact of the LVR restrictions are being felt through the numbers These detailed sales by price bracket data is provided by B T on their site and I applaud them for that openness something that we have seen withdrawn by the Real Estate Institute who used to make such data accessible but now decides to charge fees to access As I stated last month in the article The LVR speed limit crippling or merely cooling the market We will need to wait until at least the November sales figures and more likely until the new year as well as to study housing loan approvals before the definitive statement can be made as to the true impact on the changes as a consequence on the high LVR restrictions indications certainly show

    Original URL path: http://properazzi.co.nz/insights/lvr-impact-in-auckland-market-hidden-in-the-data (2016-04-27)
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  • Trade Me Property solidifies status as property marketing powerhouse — Properazzi
    Property now attracts over 120 000 visitors a day which represents 4 times as many buyers as any other site clearly referencing the 2nd placed site of realestate co nz This level of daily visitors is staggering for the reality is that if you added together all the active property buyers and sellers in NZ to the total of all the agents to all of those looking to rent property with all investors and then add commercial property agents and their clients in total you might get somewhere close to a third of that number That means that right or wrong the appeal of viewing property is a national pastime However whilst we often label ourselves as a nation of property fanatics I can tell you that with my experience of similar property portals around the world we are not that different In fact in Australia the ratio of visitors to population on the leading site realestate com au is higher than Trade Me Property attains and in the UK RIghtmove the leader there is the 6th most visited website in the UK across all categories Not only does Trade Me achieve this enormous visitor traffic on a daily basis they also manage to engage those visitors for longer than any other property site This results in the staggering fact that 8 out of 10 of all time spent by people on property website s in NZ is spent viewing property on Trade Me Added to these hard statistics sourced from market analysts Nielsen are some new data from a recent survey the company undertook from a survey of over 600 qualified buyers The research shows that more than half of all buyers found the property they bought on Trade Me with 63 of buyers rating Trade Me as their

    Original URL path: http://properazzi.co.nz/insights/trade-me-solidifies-status-as-property-marketing-powerhouse (2016-04-27)
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  • "Where is my property?" - Lost in Canada — Properazzi
    the current properties on the market especially good as it highlights open homes Or so you would think until you discover that unless you were standing on the corner of Lloyd Avenue and Braidwood Avenue in Peterborough Ontario in Canada If you were not at that exact point you would have no idea that the house being marketed at 1 Lloyds Close in Rolleston in Canterbury was actually open for viewing this weekend Confused well the issue is that the property listing in question a nice single level 4 bedroom brick house has an address of 1 Lloyds Close Rolleston Selwyn Canterbury has through the computational programme at Realestate co nz placed the property listing on the world map in Canada not in Canterbury The Realestate co nz system uses Google maps to locate this address with a pin on the Google maps on the website and on the mobile app However as we all know technology can perform strange acts at times and in this case the Google maps programme decided that 1 Lloyds Close Rolleston Selwyn Canterbury was actually 1 Llloyd Ave Peterborough in the state of Ontario Canada This is somewhat amusing but actually there is a serious issue here as the agent in their role of providing services to the client is potentially failing that client as the property they are marketing is invisible to anyone standing in Rolleston using the app or in fact a person anywhere using the mapping function of the app especially when you consider the app has been downloaded over 200 000 times and is being used actively everyday by buyers There is a very simple solution to this problem and that is provided by Realestate co nz who can go into the their database and overwrite the geo locational address

    Original URL path: http://properazzi.co.nz/insights/where-is-my-property-lost-in-canada (2016-04-27)
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  • Rent vs Buy - a new financial calculator — Properazzi
    decision then you will be pleased to know there is an excellent online tool published by The New York Times that helps to answer the question when is it financially better to rent than to buy To be clear the online tool is primarily built for renters to help better to see the point at which it becomes better to buy than to rent The beauty of the app is that there are a wide variety of inputs that dynamically allow the calculation to be personalised and whilst it is a US app it can be just as relevant to the NZ market The app requires some inputs to begin with which you are key to the calculation such as real estate fees mortgage rates inflation investment rates local and personal taxes as well as current inflation in property prices and rents With all of these inputted then the key factors to examine are how long you plan to stay in the house and what is the price of the type of house you are looking to buy It is also valuable to then go back and see the impact of property price inflation and rent increases as to how

    Original URL path: http://properazzi.co.nz/insights/rent-vs-buy-a-new-financial-calculator (2016-04-27)
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