Week 11 And REAL Is Getting Bigger And Better!

REAL Ltd Is Continuing To Expand

With the opening of two new branches within the space of the last week - one in Whangarei and the other in Dunedin - the REAL Ltd real estate chain now has 27 branches throughout New Zealand from Northland to Otago.

Dunedin branch opened its doors this Monday (25/9) after overcoming an objection by the New Zealand Real Estate Institute which set back its planned opening by a month.

REINZ had objected that REAL Ltd in Dunedin was not under the proper control of the principal licensee, Mr Don Ross, because he is based in the REAL head office in Auckland and not in Dunedin itself. REAL contested the objection and a statutory hearing - held in terms of the Real Estate Agents Act - ruled in REAL Ltd's favour late last week.

National Project Co-ordinator, Warwick Brown, described REAL Ltd's victory over REINZ as "hugely satisfying". "They over-turned the objection most convincingly and now they're raring to go," he says.

REAL Ltd's Dunedin branch manager, Viv Patrick, who is an Associate of REINZ, spent the last five years as a real estate branch manager in Alexandra and Mosgiel.

"We know we have opened in a tight market but there are still buyers out there who are looking for good properties, and who will be attracted by the REAL style of business," says Mrs Patrick. "My experience tells me we're on to a good thing and that we're going to become a real force in Otago real estate."

Just one week after opening its first branch in Northland, REAL Ltd in Whangarei already has 22 property listings with another eight pending while banded valuations are obtained. Branch Manager, Kevin Trass, who has 12 years real estate selling experience in Whangarei, says REAL's listings are in the mid range ($160,000) to high end ($600,000) of the property market.

"We have some very saleable houses and I am confident that we are going to have our first sales soon," he says. Mr Trass says his optimism is based on REAL's quality housing stock and the fact that the economic indicators in Whangarei are quite positive after a long period of gloom.

"We've had a pretty tough time up here for the past two years, and Whangarei in particular has been in something of a slump," he says. "However, during the past few months - starting in the middle of winter - the mood has begun to change."

He attributes the upbeat mood to the news about the development of the new port, and the recent announcement that luxury superyachts are going to be built in Whangarei for export.

"There is an air of growing optimism that I expect to see reflected in renewed property buying and selling. Our own listings are extremely good, especially after just one week of opening our doors. Queries are coming in all the time and new people are calling every day. Much of this is due to the strong backup we are receiving from the six firms of REAL lawyers here in Whangarei."

ends

For further information please contact:

Warwick Brown
National Project Co-ordinator
tel: (09) 630 6759

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