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REAL Is Now A Main Player In Real Estate

In just two month's, REAL Ltd MREINZ has become a significant contender in New Zealand real estate. Listings are impressive, sales are rising and ahead of budget for August. Even more importantly, the competition is showing signs of real nervousness as the company begins to flex its muscles.

National Real Estate Manager, Ian Grindle, says that combined residential and rural listings have topped the 1000 mark and are about to receive a major boost with one of the country's largest home building companies deciding to list all its stock with REAL Ltd.

"Their choice to work with REAL endorses the fact that we have already become a recognised player in real estate in some of the most competitive areas including Auckland, Waikato, Tauranga, and Christchurch," he says.

REAL Ltd's, Dickie Burman, whose Tauranga branch notched up its 100th listing this week, agrees that the company is experiencing growing acceptance - shown by the increasing numbers of sellers and buyers coming forward to look at listings.

In one instance, a vendor who already has a property listed with REAL has just listed her second property with the Tauranga branch.

"I think we have achieved a critical mass and both vendors and buyers are feeling much more comfortable about dealing with us. Another contributing factor is due to the outstanding support we are receiving from our REAL lawyers," says Mr Burman.

"The results are speaking for themselves. In our first month we listed 35 companies and in August we listed another 65. There aren't too many real estate companies able to achieve results like this. August saw our sales taking off and September is going to be great."

Mike Synott, whose New Lynn branch covers most of West Auckland, says that his 80 listings represent an average of 10 new listings a week.

"There's no one else that's anywhere near that average and as result the competition's beginning to get noticeably nervous. It's a good feeling," he adds.

Timaru Branch Manager, Don Poulter, says that after a slow start initially, there is a lot of excitement around the office.

"We have 35 listings, and the support from the REAL lawyers is full on. I think our competitors originally thought we weren't going to make it and hoped that we would just go away. There's no chance of that happening. REAL is here to stay and we're growing fast in the south."

More evidence of REAL Ltd's growth and acceptance is provided by REAL WEEKLY, the weekly publication that lists all REAL properties for sale. Starting off in July as a 16-pager with a 20,000 circulation, it is now at 24 pages and a circulation of 40,000. Circulation is continuing to climb and next month the first 32 pager will hit the streets.

Publisher Peter Sharpe says that every day he fields calls from vendors, buyers and lawyers all over the country wanting more copies.

"The fact that we publish prices of houses that have sold in similar areas, so that our readers can compare the value of their own properties, or properties they want to purchase, is one of the features that has helped give REAL WEEKLY a must read credibility," he says.
Ian Grindle is pleased that all of this has been achieved at a time when the economy has slowed down and the property market is at a 12-year low.

"The fact that we have grown so quickly in such a short period, and in a market that is very slow throughout New Zealand, is astonishing. It is also very satisfying because we are proving that the REAL formula works irrespective of the economic conditions. If this is what we are able to do now, I can only begin to imagine what it will be like for us when there is an upturn.”

ends

For further information please contact:

Ian Grindle
tel: 09 522 2812
fax: 09 522 2848
email: grindle@real.gen.nz

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