WHY TALL POPPY IN THIS MARKET?

03 talks to Debi Pratt, franchise owner and salesperson.

With market trends having a lot of negativity at present, how do you see real estate in these times?

We’re all just people living in this world and buying and selling of property doesn’t really have much to do with what is happening in the market. People transact property because of what’s going on in their lives.

As a profession, we need to not only have professionalism in how we advise on value to try and mitigate lengthy periods on the market, but I feel empathy and kindness in handling transactions when people are stressed is paramount. We are finding there are sales owing to job losses or financial pressures, elderly parents going into care, relationship breakdowns and many other stressors.

What does Tall Poppy do differently that assists?

We are very transparent about our fees. We work on flat rates that are inclusive of GST and we importantly include a premium advertising package in our fee so clients are not having to find money up front to get their home on the market.

We also run what we call a ‘list and sell’ model that means all viewings are managed by your listing agent. This means appointments can be blocked more easily to minimise disruption to families and home life rather than random salespeople from all over town wanting viewings to suit their own schedules.

By also having the listing agent present at all viewings, we individually know everything about earthquake repairs, included chattels, important features about the home and the vendor’s circumstances regarding timeframes.

It can be frustrating for buyers going to open homes or appointments that aren’t hosted by the listing agent and having the salesperson or assistant having to ‘get back to them’ on questions. We like to think we remove all these possible sticking points. Even in our own team we always get buyers to deal directly with the listing agent so they have the best experience.

What would you say to a buyer who was hesitant about buying in this climate?

The best time to buy property is always yesterday. Over time, property always appreciates and getting on or staying on the ladder is the most important thing.

If you’re buying and selling in the same market, it’s more cost effective to trade up in this market as if it has fallen by five percent, then the gap between your sale and your purchase has also shrunk by this amount.

So long as you can afford your purchase and aren’t likely to have to sell in the short term, this kind of marketplace is where people often make their future capital by purchasing now.

We did notice an increase in enquiries from the North Island after the terrible cyclone so we may find with our affordability as a city being on the radar, that our Canterbury market may come under pressure again.

What would you say to a seller that has been on the market for a long time?

I would say, “If your presentation is as good as you can get, you are confident in your agent, your marketing is strong and you are still not sold, then you really need to look seriously at the price you are hoping to achieve”.

There are still a lot of sales happening out there and they are always to purchasers who see value. A reduction in the price you are seeking is like being a brand new listing. You open your property to a new pool of buyers when you position yourself in a different bracket. The only other thing you can do is wait!