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  • South Island — Properazzi
    Wellington Christchurch North Island South Island About Books Subscribe Contact Opinions Insights Analysis Property Dashboards New Zealand Auckland Wellington Christchurch North Island South Island About Books Subscribe Contact Property Dashboard for all South Island regions Nelson West Coast Southland New

    Original URL path: http://properazzi.co.nz/south-island/ (2016-04-27)
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  • About — Properazzi
    in New Zealand Privately owned with a mission to support the industry the website and latterly the mobile application provided property buyers and sellers as well as the overall industry with some of the best resources and marketing services in digital marketing During that time I developed a deep understanding of the property market and real estate industry and its technological transformation both in NZ and globally This passion for digital as well as the insight that can be generated from rich data about the property market lead me to become an established writer founding the Unconditional blog in 2007 and writing over 700 articles over its first 5 years I hold a deep interest in analysis and market trends and this lead me to create the NZ Property Report a unique insight into the supply side of the property market established in 2009 it has gone on to become one of the cornerstone monthly reports of the property market data in NZ My passion for technology and digital platforms coupled with a desire to empower property buyers and sellers lead me help found Zoodle in 2009 as new online source of property information about every property in NZ the business was established with the support of Realestate co nz and Terralink Upon leaving my role at Realestate co nz I continued my relationship with the real estate industry on a truly international basis by taking up the role of CEO of Property Portal Watch a digital information company publishing insights analysis and commentary around the emerging global industry of property portals An industry which now conservatively comprises over 3 000 websites across more than 200 countries employing tens of thousands of employees and with an aggregated market cap of over 50 billion I ran the company until February 2014

    Original URL path: http://properazzi.co.nz/about/ (2016-04-27)
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  • Books — Properazzi
    but equally challenging and revealing As a property commentator and observer of the property market and real estate process I felt there was value in writing a short book detailing the process of selling our house The book through the 22 pages covers the key parts of the process Choosing how to sell how to select a real estate agent the marketing of the property and the selling process The

    Original URL path: http://properazzi.co.nz/books/ (2016-04-27)
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  • Subscribe / Contact — Properazzi
    North Island South Island About Books Subscribe Contact Have something you want to share with me 1 Contact me Please feel free to contact me to discuss any ideas questions suggestions projects etc on all matters of property and real estate Name Name First Name Last Name Email Address Subject Message Thanks for sending me this note let me have a read and I will be sure to get back

    Original URL path: http://properazzi.co.nz/subscribe/ (2016-04-27)
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  • Technology and its impact on the real estate industry — Properazzi
    marketing platform well for some 2012 the tablet became a core platform and whilst there are various options for my money the best experience albeit compromised by limited listings is still the New Zealand lagging behind Whilst all of the above provides a sense of a dynamic advancement of technology in the consumer real estate space the fact is NZ actually lags woefully behind many markets in terms of innovation in the field of property portals The global market of property portals now spans the globe with all major markets covered with competitive players offering rich services and providing rich rewards for the big media owners shareholders and investors The top 5 global property portals are now collectively valued in excess of 20 billion and the global market probably accounts for over 100 billion in revenues When it comes to platform options for viewing property in this digital age NZ can deliver iOS and Android apps but little else overseas options now include wearables as well as every possile platform from Google Glass to Kindle User Design for many smart online global service offerings has come along way in just the last 3 years we are used to continuous scrolling responsive design and full width presentations not though in New Zealand and not from our two property portals We are experiencing 2010 technology it needs a rethink and reinvention A simple tech capability somewhat ubiquitous across most of the property portals around the world is the ability to simply draw your own search area using a digital pen with your mouse you describe the location of choice selecting which streets to include and that creates a personal search area far from being constrained by suburb boundaries And then of course we come to data for many property buyers in many countries particularly our natural partners Australia US and UK access to comprehensive sales data by property with estimated valuations for every property whether for sale or not is the norm This insight empowers buyers and enables people to have a clearer view of where they can afford to live unbounded by the views of local agents For New Zealand we at best have to rely on 3 year old Capital Valuations and at worst fork out hundreds of dollars for information which is actually public collected for government bodies which are paid for by tax payers Future Gazing Where are the key future developments in the digital transformation of real estate The richer more immersive means by which buyers will review properties for sale will come from the likes of Matterport and their excellent full 360 degree viewer allowing unlimited access to the whole property in the palm of your hand We may go as far as to experience a total immersive experience through the likes of Oculus virtual reality to allow us to sense walking through a property and interacting with it The potential for the fully functioned digital transaction could emerge with professionally managed online auctions as is

    Original URL path: http://properazzi.co.nz/opinion/technology-and-its-impact-on-the-real-estate-industry (2016-04-27)
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  • A patchwork quilt of selected data does not make a property report — Properazzi
    NZ Property Report that total listings are down 15 and Harcourts has therefore lost share and actually had a terrible month without context of the total market they are leaving themselves exposed to competitive share attack The only really credible view of available stock and listings comes from the data of Realestate co nz The website has the most comprehensive aggregation of all licensed agents and has data by month going back to 2007 This is the data of relevance Out of interest I just checked the end of month inventory of residential property for sale in Auckland on Realestate co nz at the end of July was 7 263 at the end of June it was 7 461 down 3 compared to July last year it is actually up 7 now these are inventory numbers not number of listings but a theoretical 38 decline in listings would if across all real estate offices likely see a larger variance than this in inventory unless sales volumes are up massively The article then goes on to quote a single Barfoot Thompson agent who states the shortage was having an effect particularly in suburbs close to the CBD We are experiencing a tight market with a shortage of quality listings to accommodate our well qualified buyers I am sorry but every agent says this and has a vested interest to say this Their business model is to get listings it is in their interest to support the view that there is a shortage and they have well qualified buyers Quoting a single agent and their recent sales is simply data not insight or valuable information Further I challenge the view that there is a shortage of listings The patchwork quilt of the data is then supported by Barfoot Thompson data not form

    Original URL path: http://properazzi.co.nz/opinion/a-patchwork-quilt-of-selected-data-does-not-make-a-property-report (2016-04-27)
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  • Price indications - agents cannot mislead — Properazzi
    price search parameters on web searches on both property portals and real estate company websites An agent not only has to be accurate and must not lead around price expectation of sellers when discussing with buyers at open homes but also should ensure this mis representation does not occur on web searches which are so critical given the vast majority of buyers search for property online To be specific the REAA on their website sets out the Expected behaviour of Real Estate Agents Here are the statements that are pertinent to this issue Agents can t withhold or give inaccurate information about a property The agent is in contract with the seller and will always work on their behalf However they have an obligation to treat the buyer fairly including not withholding or giving inaccurate information I think this is important in the context around not withholding information an accurate price expectation is information which when requested must not be withheld Agents can t make unsubstantiated representations Under the Fair Trading Act it is an offence for an agent to make an unsubstantiated representation about a property This means that an agent can t make a representation about a property without having the evidence to back it up Agents must have reasonable grounds for making a statement written or verbal about a property before they make it I think that as each property requires a market appraisal undertaken by the agent for the vendor at the time of listing which provides an indicative sale price price range then under the Fair Trading Act the evidence to back up any reference to price needs to reflect the evidence of this appraisal so the two should be aligned and therefore the search price online should be substantiated by this evidence Agents can

    Original URL path: http://properazzi.co.nz/opinion/price-indications-agents-cannot-mislead (2016-04-27)
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  • Thinking of objecting to your revised Capital Value? — Properazzi
    the price we paid I propose to object on the grounds that the value of our property has not increased by 19 in less than a year It is in my mind irrelevant that the 3 year increase is 14 what is relevant is recent sale of the property as clear benchmark to notional property value I therefore have objected on the basis that the new CV should be based on the last sale price adjusted for the general increase in property valuations of property in the local suburb over that time period The QV website has a suburb specific page within which is a chart which tracks the Median E Valuer for the suburb going back over the past 5 years Simply type in the name of your suburb on the home page of the website instead of your address By hovering your mouse on a date on the chart line you can read off the median E Valuer price for a specific month In our case I selected September 2013 at 1 121 700 we purchased the property in August so the following month figure is the most accurate and then the July 2014 figure at 1 215 100 I therefore submit to the Auckland Council that our property has appreciated by 8 3 since we purchased the property in August last year So applying this 8 3 increase to the purchase price lead correctly in my opinion to the view that the most likely selling price had the property including buildings and all other improvements on the land excluding chattels been sold on 1 July 2014 would be sale price 1 083 submitted revised CV The process of objection requires you to complete a form online or on paper and by snail mail which can be downloaded from the same page of the Council website The process requires the completion of the details for the property and then the Contended Value your challenged view of the new CV This needs to be broken down into the Land Value and the Value of Improvements I chose to use the Land Value in the new assessment and adjust the value of improvements As a guide I used this wording which may be of help The re valuation of our property at XY Street Devonport has defined a Capital Value of A This assessment is as defined by the Council is the most likely selling price had the property including buildings and all other improvements on the land excluding chattels been sold on 1 July 2014 I contend that this re valuation is inaccurate based on the property having been sold on the sale date for a price of B The most appropriate method of establishing the most likely selling price had the property including buildings and all other improvements on the land excluding chattels been sold on 1 July 2014 would be to evaluate the comparable valuation of all Devonport properties in September 2013 based on sales in August

    Original URL path: http://properazzi.co.nz/insights/thinking-of-objecting-to-your-revised-capital-value (2016-04-27)
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