Driving change in the Rodney property market

Driving change in the Rodney property market

The current real estate market in the Rodney District has changed dramatically over the last five years, with its most noticeable change in the last 12 months. Rising property prices in Auckland have resulted in an increase in the number of buyers looking to purchase in Warkworth and surrounding areas such as Matakana, Omaha and Mahurangi East. This demand for properties is outstripping supply and creating upward pressure on the selling price of properties. This is great news for property owners in the district who are considering the sale of their home.

With the motorway extension to Warkworth now underway, more people will be looking to purchase in Warkworth and surrounding areas, as property prices are expected to continue increasing. However, whilst enjoying the increase in selling price, the not so pleasant surprise for sellers is the increase in dollar terms of commission fees paid to real estate agencies to market and sell a residential property. With property values increasing annually, the cost of selling your property has significantly increased from what it was five years ago. But the selling process itself has not changed. What has changed are the fees real estate agencies are receiving for doing exactly the same job they were doing five years ago.

Real Estate Agency commission fees are based on a percentage of the sale price of the property. Current commission fees typically range from 2.95% to 4.0% for the first $390,000, 1.95% to 2.5% for the balance of the sale price, plus a $500 admin charge. This means that “the higher the sale price, the more the sellers pay in commission.”

With the Rodney property market getting even more competitive, it is now more important than ever that you choose the right agent. Rob Hall has sold property in the area for more years than he would like to admit. This family team, along with Teresa and Martin Hall, have worked for three of the country’s largest companies and have sales in the area now topping $200,000,000. Having received numerous accolades for results as sales consultants, the Halls were still not satisfied with the status quo. Constantly striving for the best results for their clients, they figured there had to be a much fairer way and they have found a solution to the problem of increasing commission fees.

The answer came from opening their own real estate agency in Warkworth where they could still provide the same fantastic service they have been known for, but in doing so, restructure the commission fees from a percentage based cost structure to a fixed commission fee, which is agreed with the seller at the time the property is listed for sale. Under the ‘fixed price’ commission fee structure, sellers know exactly what the cost of selling their home is – the higher the sale price, the higher the amount retained by the property owner.

Rob, Teresa and Martin are very excited about their new project going forward. The new agency they have set up is called ONEAGENCY Hall Property Group. ONEAGENCY is Australia’s fastest growing real estate network and the Halls are the first New Zealanders of the group, although a large number of prospective members are in advanced discussions with the company. The Hall Family see their ONEAGENCY business as an ideal opportunity to really make a difference for people selling their homes. They feel that it is a great start to putting owners’ hard-earned money back into their own pockets. With a fresh new brand, enhanced marketing programmes and a fairer fee structure, the Halls believe ONEAGENCY Hall Property Group is set to meet and exceed vendors’ expectations.

As Martin says, “We have made a start and put our money and reputations on the line because we believe that the industry needs to change. But we can’t do it alone.” If you seriously think that as a vendor you have paid too much for too long, then help us help you; with your support and our hard work, we believe that together, we can make a difference.

ENDS

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