RealEstate CELEBRATING SUCCESS ACROSS THE INDUSTRY - SPRING 2017 - REINZ
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RealEstate
SPRING 2017
$13.80 excl. GST for members
A REAL ESTATE INSTITUTE OF NEW ZEALAND PUBLICATION
CELEBRATING
SUCCESS
ACROSS THE
INDUSTRY
RealEstate
SPRING 2017 A Real Estate Institute of New Zealand Publication
KEY CONTACTS
Real Estate Institute of New Zealand Inc
PO Box 5663, Wellesley Street, Auckland 1141
Phone: 09 356 1755 Free Phone: 0800 473 469
Fax: 09 379 8471 Email: info@reinz.co.nz
www.reinz.co.nz
IN THIS ISSUE Chief Executive
Bindi Norwell
12
Please refer all queries in first instance to Miranda
Chetham, Ph: 09 356 1752, mchetham@reinz.co.nz
REINZ OFFICE
OPENING Advisory Services
Lisa Gerrard, Chief Legal Officer
22
Ph: 09 356 1760, lgerrard@reinz.co.nz
2017 REINZ AWARDS Membership Team
FOR EXCELLENCE WINNERS Mary Rackham, Membership Services Manager
Ph: 09 356 1750, mary@reinz.co.nz
29
Karen Chambers, Membership Services Admin
REAL ESTATE INDUSTRY EMBRACING Ph: 09 356 1845, kchambers@reinz.co.nz
TECHNOLOGY INITIATIVES Cindy Stowers, Membership Services & Web Admin
Ph: 09 356 1849, cstowers@reinz.co.nz
36 2017 NATIONAL REAL ESTATE
AUCTIONEERING CHAMPIONSHIPS
Events Team
Louise Gordon, Events Manager
Ph: 09 359 5454, lgordon@reinz.co.nz
42
Kim Thompson, Events & Digital Marketing Specialist
Ph: 09 356 1847, kthompson@reinz.co.nz
HIGH PERFORMANCE THEME
FOR THE FIRST HALF 2017 Communications
Dee Crooks, Communications/PR Manager
46
Ph: 09 356 1753, dcrooks@reinz.co.nz
DIARY FROM Education
AREC Jacqueline Rooney, Education Manager
Ph: 09 359 5455, jrooney@reinz.co.nz
58
Technology
OVERSEAS PEOPLE Reuben Billings, Chief Innovation Officer
BUYING LAND IN NEW ZEALAND Ph: 09 356 1761, rbillings@reinz.co.nz
Finance Department
OUT & ABOUT 08 Rowan Dixon, Chief Financial Officer
Ph: 09 356 1762, rdixon@reinz.co.nz
FEATURES 17
PropertySmarts
SECTOR GROUPS 34 Darren Kelly, Commercial Manager
INTEREST STORIES 50 Ph: 09 356 1767, dkelly@reinz.co.nz
LEGAL 56 Editors
Dee Crooks, Editor; Kim Thompson, Sub Editor
Ph: 09 356 1753, dcrooks@reinz.co.nz
Design and Layout
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blair@macwork.co.nz
The Real Estate Magazine is a
Printing
quarterly publication distributed Inkwise NZ ISSN 2324-3791
to 14,000 members of REINZ.
DISCLAIMER: Any views or opinions included in this
Ad packages are available. If you publication do not necessarily reflect the views of the Real
are interested in advertising contact Estate Institute of New Zealand Inc but remain solely those
of the author(s). REINZ is grateful to the companies who
Kim Thompson - kthompson@reinz.co.nz have advertised in The Real Estate magazine who enable
us to bring this publication to our members. However,
Become a Member Benefit Wanting to sponsor a REINZ placement of advertising in this publication does not
supplier. Contact Darren Kelly event? Contact Louise Gordon constitute an endorsement of the products and/or services
shown. Neither is REINZ responsible for the accuracy of any
dkelly@reinz.co.nz lgordon@reinz.co.nz advertising material.
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CEO UPDATE
Celebrating
Success Bindi Norwell, CEO, REINZ
So often we look forward and spend our time focusing on ‘what’s coming up
next?’, but it’s equally important to stop and celebrate some of the milestones we
achieve along the way, which is why we’ve dedicated this edition of Real Estate to
celebrating success.
O ver the past quarter the industry
has celebrated some fantastic
achievements – we’ve had the REINZ
I hope you enjoy looking through them all.
This issue has some great tips to help you
get ahead in your career from reaping the
National Auctioneering Championships,
personal benefits of empathy, to how stress
we’ve opened our new building in Khyber
has the ability to sabotage our health in small
Pass Road, held our annual Residential
and big, unconscious and conscious ways,
Property Management and Commercial
to how investing in your own personal brand
& Industrial conferences and the REINZ
can help you stand out from the crowd.
Awards for Excellence in Real Estate have
found this year’s superstars in our industry. We also look at how we can learn from
the best in the business and apply those
That feels like quite a list!
learnings to the real estate industry in New
Congratulations to all our winners, runners Zealand. Our stories on the Australian Real
up and entrants. We know how hard you’ve Estate Conference and leadership tips from
worked and what a great job you’ve done the best business minds in New Zealand are
in order to get this far. There are some great sure to inspire you to achieve great results
‘celebrating success’ photos accompanying for you and your team as we race through
the stories in this edition of the magazine. the final few months of the year.
6 | The Real Estate Institute of New Zealand
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Contact us for your Free Trial - Get PropertySmarts today!
Call us toll free on 0800 473 469
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OUT & ABOUT
Barfoot & Thompson
quizzes for a cause
Barfoot & Thompson’s 8th annual Quiz Night was held
in June. Attendees filled out Eden Park for the sold out
event, participating in dress ups, quiz questions and
auctions to raise money for The Starship Foundation, of
which Barfoot & Thompson is a five-star sponsor.
13 athletes from netball, rugby and Olympic fame were
auctioned off as special guests at tables, as well as a
raffle and auctions for some fabulous prizes including a
Commonwealth Games package, opportunities to train
like The Blues, flights to the Pacific Islands and a rugby
jersey signed by the Irish rugby team.
A great night out was had by all who attended, and a
record-breaking $106,500 was raised for the children’s
hospital.
First National spirit
alive and well in Fiji
In May, First National Real Estate hosted its annual
National Convention in Fiji, which attracted more than
385 delegates, leading industry figures and their families
from New Zealand, Australia, and the South Pacific. This
occasion was used to officially open a covered utilities
walkway before nearly 100 First National agents for the
Naidiri Bay Khalsa Primary School, funded by the First
National Foundation - the charitable arm of the network.
The walkway will provide much needed shade during the
summer and relief from torrential rain during the winter
months. Members also brought over and donated nearly
From left: Harcourts CEO Chris Kennedy, Harcourts RAS Rural Ambassador of the Year a tonne of exercise books, pens, pencils, sports gear,
Annaliese Goettler and Harcourts Lifestyle and Rural Manager Tom Rutherford.
toys and general school supplies. The gratitude of the
school principal and teachers as well as the joy on the
Annaliese Goettler faces of the children will be one of the highlights of our
2017 Fiji Convention. There was singing and dancing,
announced as Harcourts RAS and then everyone got out on the football field and had a
great time playing with their new sports gear!
Ambassador of the Year First National Real Estate Chief Executive, Bob Brereton,
Annaliese Goettler is the Harcourts Royal Agricultural Society Rural
says “It was a truly humbling experience giving, what from
Ambassador of the Year. The 21-year-old competed against young people
a New Zealand perspective was relatively little, to such an
from around the country to win the title at the Royal Agricultural Society
appreciative benefactor, the sheer joy and delight on the
annual conference in Wanaka.
faces of the children was a true highlight.”
Annaliese impressed the judges with her passion for A&P shows and
rural life, and will go on to represent New Zealand at the Australasian
competition in Adelaide next year.
The competition involves contestants answering questions about their
showing background, future goals and long-term views of the agriculture
sector. They need to show expertise and knowledge in their particular
industry and be current with world events and industry news that may
impact on the rural sector.
2017 is the first year Harcourts has been involved and Tom Rutherford,
Harcourts National Manager for Lifestyle & Rural, says the real estate group
is thrilled to be taking part.
“A&P shows are a crucial part of rural life in New Zealand, both as a
key community gathering and a way for the sector’s innovators to form
connections. We are excited to be supporting the up and comers who will Ray Ellis, Chief Executive Australia cuts the tape to the new covered
be the future leaders of innovation.” walkway.
8 | The Real Estate Institute of New Zealand
OUT & ABOUT
SPOTLIGHT
Harcourts Foundation
funds Hospice NZ
Grant Programme
The Harcourts Foundation is extremely proud to
have established a formal relationship with Hospice
NZ, funding the Hospice NZ Grants Programme.
The programme will support hospices throughout the country
that provide palliative care for people at the end of their lives, their
families and whanau.
Each year more than 18,000 people access hospice services. From left: Mary Potter CEO Ria Earp, Hospice NZ CEO Mary Schumacher, Harcourts
Everything provided is free of charge and community support is CEO Chris Kennedy, Harcourts Foundation Ambassador Emma Revell and Hospice
essential to ensure this remains a reality. NZ Sponsorship and Communications Manager Rachel Wilson.
Thanks to the generous support of the Harcourts Foundation, a unique and innovative grants programme provides hospices with the
opportunity to purchase much needed equipment.
Every donation to the grant fund directly supports hospices from the far north to the deep south to continue their work, enabling
people to live every moment in whatever way is important to them.
Barfoot & Thompson supports the Harcourts is
Auckland Cycling Performance Hub New Zealand’s
14 teenage cyclists
have been named as
Most Trusted!
For the fifth consecutive year, New Zealanders
part of the Barfoot & have voted Harcourts their Most Trusted real
Thompson Auckland estate brand.
Performance Hub
programme. Reader’s Digest has announced its most trusted
brands for 2017, and Harcourts has come out on
The Hub is the fourth top in the real estate category. It is the fifth time
of a planned eight real estate has been voted on, and the fifth time
hubs by Cycling New Harcourts has been voted Most Trusted.
Zealand to form a
network around the Harcourts CEO Chris Kennedy says it is
country, offering a incredible to be supported by the people of
pathway to the future New Zealand, and the Most Trusted award is
success of high treasured by everyone who works for Harcourts.
performance cycling in “It’s what we are always working towards.
New Zealand. Our people try to give the very best service
and honest advice to every client, so for New
“Investing in
Zealanders to choose us again as their most
development and performance pathways is key to securing top talent and continuing
trusted is very humbling.”
to grow New Zealand’s performance outcomes on the world stage,” said Cycling New
Zealand CEO, Andrew Matheson.
“The Cycling Performance Hubs have strong regional ties and connections with locally-
based riders, coaches and local sponsors. To this degree, we are indebted to Barfoot &
Thompson for their support in making this project a reality.”
“We are proud to have the chance to help cultivate future stars of Cycling New
Zealand, and we are excited to support our local talent in Auckland,” said Peter
Thompson, Managing Director of Barfoot & Thompson.
“We look forward to watching the development of these young people not only in
Auckland, but also in New Zealand.”
SPRING 2017 | 9
OUT & ABOUT
Ray White Remuera
new office
In June Megan Jaffe proudly welcomed more than 250
customers, clients, family together with Ray White members
to the opening of her new premises at 411 Remuera Road,
Remuera. Fondly known as ‘411’, the premises are a stunning
example of architecture that has been carefully crafted together
over the last two years for which the property has been under
renovation. Formerly known to be the first Remuera library, the
building was constructed in 1902 as the Remuera Road Board
office. In 1915 it became the Remuera Public Library and then
it was amalgamated as part of Auckland City in 1926 when the
actual original building was relocated to Pt Chevalier.
that has been created as part of Megan’s journey and the opening
Megan spoke of the collaborative approach in bringing the of 411 Remuera Road. He said that the premises will reflect the
premises together. The building stands as a testament to the energy, the professionalism, and the warmth of the Ray White
community of Remuera, linking the past with the future, and how Remuera team every time someone comes through the door.
the confidence within Remuera continues to regenerate to not He went on to say that Megan has been a business owner for
only place Remuera as a location for people to live, but also a just over 10 years and like many of us, has told stories of blind
place where people celebrate their community and that 411 was a faith, moments of self-doubt and some confusion as to what the
reflection of that. future would hold. Ten years on, Megan’s unique determination
to understand, learn and ultimately drive outcomes are part of
Megan also spoke about her team and their commitment to client
the reason why 411 Remuera Road has evolved to be such a
interests at heart. It is, she said, a mantra of the business that is
statement of all that Megan stands for in her business.
embedded deeply into the ongoing success that every customer
and client will receive the very best delivery and service expectation Dan went how to say how Ray White Remuera is the International
and ultimately this leads to the delivery of outstanding results. No 1 Office for the Ray White Group.
Dan White, the director of the Ray White Group, spoke on behalf The premises were officially opened by Hon. John Banks CNZM,
of Ray White International, of which now spans more than 1,000 QSO, with Megan Jaffe together with Ray White New Zealand Chief
offices and close to 10,000 members. Dan spoke of the magic Executive, Carey Smith.
10 | The Real Estate Institute of New ZealandNew Communications/
PR Manager for REINZ
Dee Crooks has recently
joined REINZ as the
J oining REINZ has been a little bit like
coming home for me, as when I first
started out in communications back in
Next I started a foray into financial services
PR which would see me work for some
of the big players in the industry including
new Communications/ the early 2000s one of my major clients Grant Thornton and BDO in the UK and
at the agency I worked for, Network then BNZ, HSBC, Lumley Insurance and
Public Relations Manager. Communication, was Barfoot & Thompson. AMP back in New Zealand.
Here she shares her I loved working on all the monthly
After all that, here I am back in the real
residential sales statistics and having a
background and what good handle on the Auckland property
estate world again and it’s an exciting time
to be part of the industry as the property
she’s enjoying about the market – especially when I was in looking
market continues to be a key focus of
to buy my first house!
role so far. conversation across the country.
Following three years at Network, I headed
To date everyone has been very welcoming
to the UK on my OE – initially I was teaching
and I’m looking forward to meeting more of
sailing in Reading (I’m also a qualified sailing
our members over the coming months as
instructor), but the lure of the ‘bright lights’
we continue to share content and stories to
of London was too strong and after nine
our diverse group of stakeholders.
months we moved up to the ‘big smoke’.
I then started working for the British Retail If there’s something you’d like to see REINZ
Consortium which is the trade body for all talking about in the media, please don’t
the UK’s retailers – another great experience hesitate to give me a call on 09 356 1753 or
that helped me land the REINZ role. e-mail me on dcrooks@reinz.co.nz.
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beaurepaires.co.nzFEATURE
REINZ office opening
Having settled into our new offices at the end of April, a small gathering was held to
mark the official opening of the building and to have our local hapu, Ngāti Whātua
Ōrākei, bless the building.
O n a wet Friday afternoon on the 21st
of July, a handful of courageous souls
braved the thunderstorms to help REINZ
Bennett, Deputy Prime Minister concluded
the formalities with a short ribbon cutting
ceremony.
mark the official opening of our building in
REINZ CEO Bindi Norwell, REINZ Chair Dame
Khyber Pass Road.
Rosanne Meo and REINZ Director Bryan
Joining us to conduct the mihi whakatau Thomson all gave a short address to express
(formal welcome speech) and karakia their excitement at the opening and also to
(prayer) were representatives from Ngāti give thanks to those who played a significant
Whātua Ōrākei, and the Hon. Paula role in the building development.
Bindi Norwell, Hon. Paula Bennett and Bryan Thomson
Mark Coffey, Peter Cook, Philip Searle, Hon. Paula Bennett, Bindi Norwell, Bryan Thomson REINZ new building
12 | The Real Estate Institute of New ZealandFEATURE
Mihi whakatau
REINZ Team
Bindi Norwell and Hon. Paula Bennett Dame Rosanne Meo and Bindi Norwell
SPRING 2017 | 13ECONOMY UPDATE
Labour, productivity
and housing
The New Zealand economy has come through a relatively subdued
Bevan Graham
six months as a series of one-off negatives in the dairy production, NZ Chief Economist
transport and construction sectors conspired to deliver below trend AMP Capital
growth over the period.
W e assume a modest rebound over the
next few months. Growth in consumer
activity is solid as population growth remains
subdued despite strong economic growth
fuelling strong growth in employment. That’s
because we have seen strong growth in
strong and as labour income continues to the supply of labour at the same time. A
rise. We are also seeing signs of a much combination of net migration inflows and a
needed uptick in business investment record high in the labour participation rate
and fiscal policy is about to turn modestly has seen 330,000 people enter the labour
stimulatory. And while headline inflation has force over the last five years.
spiked higher, underlying or ‘core’ inflation is With that strength in the growth of the
still benign. Indeed, wage inflation remains labour force, the unemployment rate has
subdued with the Labour Cost Index been relatively slow to fall despite strong
trending down recently. job growth. From a peak of 6.7% in
September 2012, the unemployment rate
Labour market had fallen to 4.9% by March 2017. We
The lack of wage inflation in recent years expect the unemployment rate to continue
explains a large part of the persistently to drift lower as labour demand remains
weak domestic inflationary pressures. And solid, but for no significant economy-
it’s the labour market that remains key to wide wage inflation to emerge until the
the outlook for core inflation. Wages remain unemployment rate moves closer to 4%.
Graph 1: Unemployment rate and employment
New Zealand Labour Market
3.0 7.0
6.5
2.0
6.0
1.0 5.5
5.0
0.0 4.5
4.0
-1.0
3.5
Employment Change (qoq %) LHS
-2.0 3.0
Unemployed Rate (%) RHS
2.5
-3.0 Source: Statistics NZ and AMP Capital 2.0
2004 2007 2010 2013 2016
14 | The Real Estate Institute of New ZealandECONOMY UPDATE
Productivity and business was also strength in business investment. Plenty. At the same time, house sales are
investment The early signs are good for a cyclical down around 20% on year ago levels.
New Zealand’s low labour productivity improvement in productivity.
Three factors are at play here. Firstly,
growth rate has been in the news again This hasn’t happened in the past, but I last year’s tightening in loan-to-value
following the recent country report from put that down to the high cost of capital restrictions has had some impact.
the OECD. (high interest rates) that have prevented a However, the more significant factor has
We think about productivity from both shift to capital expenditure. During the last been the recent rise in mortgage lending
structural and cyclical perspectives. Labour cycle, the Official Cash Rate (OCR) peaked rates. This has sapped some of the energy
productivity growth rates have been low at 8.25%. This time it’s different. While the out of the market as mortgage holders
in many developed economies since the OCR won’t stay at 1.75%, we expect a far and potential home buyers factor higher
Great Recession, with at least part of this more muted interest rate cycle this time. mortgage costs into their decision making.
cyclical. The recession saw sharp increases Thirdly, as news spreads that the market is
There are of course structural factors
in unemployment rates. As economies softening, some of the urgency is removed
at play. The OECD picks out one of the
recovered, labour was plentiful and relatively from home-buyers as they are more
ones that matters most – education. The
cheap given wages were subdued, so firms prepared to sit back and wait and see
challenge there, is that’s not just about what
resourced the growth in demand for their what happens.
happens in school as there are two parts to
goods and services with labour. That keeps education – teaching AND learning. Good In terms of new housing, we expect
labour productivity suppressed. policy can improve teaching, but learning construction activity to remain strong,
Later in the cycle the unemployment rate is is harder to influence. We are also not big particularly in the top-half of the North
lower, skilled labour becomes more difficult fans of research and development (R&D) tax Island. There is still a shortage of housing,
to find and more expensive as wages credits. A more targeted approach – through particularly in Auckland and net migration
rise. Firms then turn to capital for growth, the likes of Callaghan Innovation – provides inflows have yet to establish the much
especially while interest rates are still low. It’s a better return on investment. anticipated downward trend.
during this part of the cycle that productivity
starts to improve.
Housing market Interest rate outlook
The housing market now has a softer feel With the economy performing well and the
The turning point is when the economy to it. Prices are moderating, especially in output gap closed, the Reserve Bank of
reaches full employment. The United the extremely hot Auckland market and the New Zealand’s next move will be to raise
States is there now, which is why we are surrounding regions of Waikato and Bay of interest rates, though not until next year.
looking for a pick-up in business investment
now to prolong the cycle and prevent the
need for more aggressive interest rate
increases. New Zealand is getting closer For the latest thinking on markets, economies and
to this point and, in similar fashion to the trends visit ‘Enlightenment’, the AMP Capital blog site
US, the pleasant surprise from our weaker at www.ampcapital.co.nz/news/blog
than expected first quarter of 2017 growth
SPRING 2017 | 15REINZ Enhanced Statistics –
Information Evolution in Progress
16 | The Real Estate Institute of New ZealandFEATURE
REINZ has been working hard over the
past few years to make changes to the
David Shaw
statistics platform and continue to add Business Analyst
value for our members. Real Estate Institute of New Zealand
I n April, we released to you a world class
House Price Index product which gives
you the most reliable insights into market
value movement over time. We redefined
our reporting regions to reflect definitions
used by Statistics NZ so that you could
relate your unconditional sales statistics to
economic and demographic data reported
outside REINZ. Then in June came the
ability to generate data over combinations
of geographical areas, as well as your
own custom area polygons defined on a
map. Examples of this are covered below.
In August, we provided you enhanced
insights for the areas you choose on a map,
including the integration of Statistics NZ
data right into your statistics portal. From
the outside looking in, it seems that nothing
much changed with REINZ Statistics over
several years and then boom – four months
of rapid change.
In fact, these changes have been years in
the planning. REINZ has been continually
investing in our database over these years,
integrating innovative technology and ideas
Figure 1
and bringing in new people with exceptional
skills to work on these statistics delivery
projects. From that perspective, the process
of the evolution has been constant over
the last several years with the fruits of that
labour, investment and innovation available
to our members now.
Let’s take a quick look at some of these
latest changes.
Custom Reporting Areas
REINZ members can now bring up a map
within the REINZ Enhanced Statistics
portal and click on several suburbs, wards,
Territorial Authorities or regions. These
can be combined to create a custom area
to report statistics on such as Median
Sales Price, sales count etc. You are no
longer restricted to reporting on predefined
areas which is a massive step forward in
technology. Alternatively, you can draw
your own polygon with several clicks of
the mouse to create a very precise and
customised area, and then report on those
areas as you would other standard areas.
Figure 2
SPRING 2017 | 17FEATURE
How can agents use Custom these areas. Emma might sell in the suburbs and those can be separated from Waitara
Reporting Areas in their of Westmere, Grey Lynn, Ponsonby and and surrounds, creating reporting areas
business? Herne Bay. She can create her own custom that match the way that market works. An
area which will have quite different median example of a custom polygon can be seen
One way in which the ability to combine
and count values. You can see an example in Figure 2.
suburbs into a custom area might be used
of what this looks like in Figure 1.
is the creation of catchment areas. Agents
Location Profile
often have groups of suburbs that they sell The ability to draw reportable custom
The most recent enhancement to REINZ
in, sometimes known as catchment areas, polygons on a map is useful when areas
Enhanced Statistics is called Location
and their colleagues are assigned to working of interest cross suburbs but do not
Profile. This is a research tool that allows
a separate set of suburbs. John might work incorporate all the area of the suburbs
you to gather information from REINZ and
the Auckland suburbs of Pt Chevalier, Mt in question. You can draw your exact
Statistics NZ about specific suburbs, school
Albert, Western Springs and Morningside. area of interest. An example of this is in
zones, wards or regions. You are also able
Combining these suburbs into one area New Plymouth where the predominant
to compare two areas on the same screen
called John’s catchment area will allow him areas of interest cross ward and suburb
by choosing the ‘Add Comparison’ option.
to track sales count and total sum of sales lines. Now, central New Plymouth can be
Once you have chosen an area you can
and median days to sell, for instance, in separated from Bell Block and surrounds,
review Sales Statistics for the last month
and the last 12 months. This includes old
favourites like Median Sales Price, Sales
Count etc. It also includes Estimated
NEI Turnover which gives a percentage of
properties sold compared to the number of
properties in an area.
You are then able to look at Census
OWNER
Statistics for the area. Data about Age,
Ethnicity, Family Type, Household Income,
Language, Number in Household,
Occupation, Ownership, Previous
Residence, Qualifications, Religion, Smoking
Status and Transport Mode are now at your
fingertips. Various charts can be generated
to allow you to visualise these statistics. See
Figure 3 for an example of this data.
NOT OWNER
Finally, you can review the primary school,
intermediate school and high school zones
Census Statistics are derived from the 2013 census
that are in each area and what percentage
of properties in the area belong in each
school zone.
Secondary School Zones How can agents use Location
Profile in their business?
We expect that agents will be able to use
this research tool for smarter marketing
and greater insight into areas of interest.
Creating a smart looking profile of an area
86.02% 28.88% 8.71%
that covers school zone statistics could be
the difference when dealing with parents
with school age children.
Mt Albert Avondale College Auckland Girls Conclusion
Grammar School Grammar School
Hopefully you will be as excited by these
changes as REINZ is proud to bring them
to you. You now have access to cutting
The school zone percentage is calculated as the number of households from Mt Albert,
edge research tools. REINZ Statistics has
Auckland that are within each school zone. For a school to be shown more than 5%
evolved, and your understanding of your
of properties in Mount Albert, Auckland must be in the schools zone. Only the top 10
areas of interest, with the increased quality
schools, by percentage of properties, are shown.
of real estate advice that you can provide,
can evolve too.
Figure 3
18 | The Real Estate Institute of New ZealandFEATURE
Focus your energy on
the things that matter.
The fuel card that helps
you run things your way
Take advantage of a great REINZ benefit and receive the following
offer with Mobilcard:
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SPRING 2017 | 19FEATURE
Leadership tips
from entrepreneur
Wendy Thompson Wendy Thompson
20 | The Real Estate Institute of New ZealandFEATURE
Wendy Thompson started her social media marketing company Socialites in 2010
as one woman with a laptop and an idea. Socialites has not stopped growing since,
becoming one of New Zealand’s fastest growing companies making the Deloitte
Fast 50, The Asia-Pacific Fast 500 and picking up a host of creative and strategic
industry awards along the journey. NZ’s top corporates that trust her company with
their social media include Spark, Mitre 10, House of Travel, Bayer and Sanitarium.
L oving business and showing no signs
of slowing down, Wendy has recently
launched a sister company to help small
• Good leaders are ridiculous optimists
• Leaders don’t get things done - they
make things happen
and medium companies around New
• Leaders create other leaders.
Zealand with social media called Start
Social, www.startsocial.nz. Rob Fyfe
Icebreaker, former-CEO Air New Zealand:
Wendy rejects the theory of work-life
balance, “It’s all just LIFE!” she preaches, • Have the courage to have a loud
something no doubt many in the real estate personality and point of view.
profession can identify with. Annette Presley
“I love involving my family and friends in my Founder of Call Plus:
businesses and often say if the definition of • A leader’s job is to give your team legs
retirement is getting to do what you want and help them grow wings.
when you want, then I’m already retired!”
Celia Robertson & Nadia Lim
she says.
CEOs at My Food Bag:
Socialites recently announced a new • Put your customers at the centre of every
partnership with entrepreneur Jake Millar decision you make. At My Food Bag they
from Unfiltered, as their official social media don’t use the word ‘customer’, instead
marketing partner. Unfiltered is an online they use the word ‘believers’, this really
business education platform that allows emphasises the importance of their role in
individuals and large corporates access your business
to specialty business training materials to
• Think about your language - the word
help them improve and learn about how to
team can be overused - are you a family,
succeed in business.
a machine, a tribe, a cult?
The platform is principally known for its
Sir Graham Henry
‘Game Changer Series’ which follows
Former All Blacks coach:
Jake as he sits down with some of
New Zealand’s, and the world’s leading • A great team has a mindset of continuous
business practitioners, to get an insight improvement - they are never ‘done’.
into what has led to their success. Some Better never stops
of his interviewees have so far included • Culture eats strategy for breakfast
Sir Richard Branson, Ian Wright and Dan • A great team is solution focused, process
Ammann. These 40 minute to one-hour long driven and resilient. They actively plan for
video interviews are then broken down into what to do when things don’t go to plan
separate and easily viewable chunks which “expect the unexpected”, so they can
can then be viewed by subscribers. think clearly under huge pressure.
Wendy recently attended Unfiltered Live: Rt Hon Bill English
Team, Culture & Diversity at the Auckland New Zealand Prime Minister:
Museum and had the following nuggets to
• Often you make the biggest gains when
share following the event from some of New
you stop doing dumb stuff. A good leader
Zealand’s best and brightest minds:
actively finds the dumb stuff
Kevin Roberts • To inspire a team, a long-term view is
Former Saatchi & Saatchi Global CEO: crucial.
• Management is about doing things right.
Leadership is about doing the right things
• Fail fast, learn fast, fix fast
• Use tech to be faster and smarter
• Practice your mental toughness, thinking
clearly under pressure like our top sports
team
WINTER 2017 | 21FEATURE
2017 REINZ Awards
for Excellence winners
On Friday 25 August, 350 people gathered in the
Event Centre at Auckland Museum to celebrate the
2017 REINZ Awards for Excellence in Real Estate.
Mike Puru was MC for the evening and presented the 37 awards at pace to keep the
attention of the excitable crowd.
The following images show each category being presented; more photos can be found
on our Facebook page www.facebook.com/realestateinstitutenz/
Thank you to our event partners realestate.co.nz and Property Press – your continued
support is appreciated. Congratulations to all our finalists and winners!
Large Agency (All Disciplines) - Barfoot & Thompson
Support Person of the Year - Jill Birocchi, Housemart RPM Rising Star - Danielle Smith,
Queenstown (represented by Tanya Watson) Goodwin Property Management
22 | The Real Estate Institute of New ZealandFEATURE
Property Manager - Amanda Harrison, Harcourts Tandem RPM Business Development Manager - Shanon Aitken,
Property Management Warkworth Crockers Property Management Epsom
RPM Small Office - Pedersens Property Management
Takapuna (represented by David Faulkner) RPM Medium Office - Barfoot & Thompson Papatoetoe
RPM Large Office - Professionals Lovegrove Realty Residential Rising Star - Lucy Wang,
Manukau (represented by Alex Watson) Impression Real Estate
SPRING 2017 | 23FEATURE
Best MultiMedia Campaign - Linda Simmons, Barfoot & Thompson City
Residential Salesperson, Commission & Volume - Chris Jones, Bayleys Business Broker Rising Star - Greg Dunn, ABC Business
Whalan and Partners Christchurch (represented by Greg Hornblow) Sales Waikato
Commercial & Industrial Rising Star - Simon Felton,
Business Broker - Neil Barker, Barker Business Brokerage Colliers International Auckland CBD
24 | The Real Estate Institute of New ZealandFEATURE
Commercial & Industrial Salesperson - Mike Houlker, Rural Salesperson - Ben Turner, Bayleys Whalan and
Bayleys Auckland CBD (represented by John Church) Partners Christchurch (represented by Greg Hornblow)
Manager - Philip Kubiak, Property Brokers Whanganui Office Administrator - Talia Rushton, LINK Business
(represented by Paul Roache) Broking Ellerslie
Personal Assistant (non-selling) - Megan Jarratt, Harcourts Small Residential Office, Volume - Property Brokers Levin
Grenadier Ferrymead (represented by Chris Kennedy) (represented by Rohan Teaz)
SPRING 2017 | 25FEATURE
Tba
heading
Small Residential Office, Commission - Bayleys Success Medium Residential Office, Volume - Property Brokers
Realty Mt Maunganui (represented by Dickie Burman) Whanganui (represented by Paul Roache)
Medium Residential Office, Commission - Bayleys Real Large Residential Office, Volume - Barfoot & Thompson
Estate Ponsonby (represented by Bernadette Morisson) City (represented by Sanda Forrester)
Large Residential Office, Commission - Tommy’s Real Small Business Broking Office - LINK Business Broking
Estate Wellington City (represented by Nicki Cruickshank) North Shore
26 | The Real Estate Institute of New ZealandFEATURE
D rones
Medium Business Broking Office - Barker Business Brokerage
Large Business Broking Office - LINK Business Broking Small Commercial & Industrial Office - Colliers
Ellerslie (represented by Aaron Toresen) International North Shore (represented by Jimmy O’Brien)
Medium Commercial & Industrial Office - Colliers International Large Commercial & Industrial Office - Colliers International
South Auckland Highbrook (represented by Greg Goldfinch) Auckland CBD (represented by Greg Goldfinch)
SPRING 2017 | 27FEATURE
Small Agency (All Disciplines) - BCRE Ltd
Small Rural Office - PGG Wrightson Real Estate Cambridge Medium Rural Office - Bayleys Waikato Country Hamilton
(represented by Camron Meade) (represented by Dickie Burman)
Large Rural Office - PGG Wrightson Real Estate Tauranga Medium Agency (All Disciplines) - Harcourts Cooper & Co
(represented by Camron Meade) Real Estate Ltd
28 | The Real Estate Institute of New ZealandFEATURE
Real Estate Industry
embracing technology
initiatives
SPRING 2017 | 29FEATURE
One of the issues facing the real estate industry
is technology and whether it will be a ‘digital
disruptor’ or whether the industry will find a way
to embrace advances and take advantage of the Dee Crooks
opportunities it provides. REINZ Communications/PR Manager
R EINZ was interested in how the industry
is embracing technology so earlier in
the year we conducted some research to
the regulations and requirements
surrounding drone usage.”
The REINZ research also highlighted that
understand how our members are using
agents are making significant use of social
technology on a daily basis. The results are
media with 50% having used unpaid social
detailed on the opposite page.
media to market a property and 20%
According to the survey, real estate agents considering it. Additionally, 39% have used
are actually pretty tech savvy with more than paid social media advertising with a further
half (51%) of real estate agents surveyed 37% considering.
across New Zealand stating they have
“New Zealand has more than 2.2 million
invested in using drone footage to help
active daily users on Facebook, 1 million
market their properties.
Instagram users and 529,000 Twitter users,
A further 30% have considered using so the use of social media as part of the
drones, but are yet to take up the advantage overall marketing of a property makes
of providing the bird’s eye view when absolute sense and it’s an excellent place to
marketing homes for sale. reach potential purchasers who are extremely
active in this space,” says Norwell.
Bindi Norwell, CEO, REINZ says: “Gone
are the days of having to clamber up a Still to make a significant impact in New
ladder to take a picture of the house that Zealand is the use of 3D walk throughs with
you are marketing or looking at Google only 19% of agents surveyed having used
Earth images. Drones can provide potential such technology. However, emphasising
purchasers with a 360-degree view the potential opportunity of virtual walk
of the house, the street and the wider throughs more than half of agents (52%)
neighbourhood and its amenities if need be had considered this.
– all in high definition viewing.
The use of virtual reality (VR) and augmented
“As the cost of using drones continues to reality (AR) is still very much in its infancy
decrease, and there is a higher demand in New Zealand with only 4% and 3% of
for seeing properties marketed in this light, agents respectively having used these
we expect that we will see an even higher technological advances.
uptake in the future.”
“It’s very early days when it comes to using
“We are hearing that more real estate 3D walk throughs or VR and AR technology in
agents are offering vendors the opportunity New Zealand, but there is a great opportunity
to include drone footage as an additional for agents to embrace this sort of technology
option as part of the overall marketing to engage time poor or international
package of their properties, by using purchasers who can’t always make it to an
professional organisations who understand open home,” concludes Norwell.
NEW ZEALAND HAS MORE THAN 2.2 MILLION ACTIVE
DAILY USERS ON FACEBOOK, 1 MILLION INSTAGRAM
USERS AND 529,000 TWITTER USERS, SO THE USE OF
SOCIAL MEDIA AS PART OF THE OVERALL MARKETING
OF A PROPERTY MAKES ABSOLUTE SENSE ...
30 | The Real Estate Institute of New ZealandFEATURE
While some may view this as digital disruption, others will view it as digital opportunities.
Usage Considered but not used
51% Drone footage 30%
BROAD ACCEPTANCE
50% Un-paid social media 20%
Paid social media
39% advertising 37%
38% Smartphone apps 33%
35% Video advertising 36%
31% Offshore marketing 45%
Search engine
29% optimism 33%
GROUND BREAKING
19% 3D walk-throughs 52%
4% Virtual Reality (VR) 43%
3% Augmented 36%
Reality (AR)
SPRING 2017 | 31FEATURE
It’s about time,
not tech for tech’s sake Alister Maple-Brown
CEO at Rockend
Life is busy – and getting
busier every day. It’s a
H ow good would it be if you had more
time? Technology can help. While
it can’t magically create more hours in
Thanks to the sheer amount of data that’s
generated every day by digital processes
and social media exchanges, you can
constant battle to get a day, it can help you do more in the develop insights into individual client
same amount of time and provide a more interests and needs – and, using this
everything done. But it focused and valuable experience for your data, you can generate a personalised
doesn’t matter who you clients. communication experience in a bulk,
automated way.
are or what you do, we all But there’s no point simply using
technology for technology’s sake. It has Take PropertyTree. You can easily tailor
have the same 24 hours to be the right technology. It’s all too easy and personalise the statement you provide
in our day. to get caught up with the next shiny new to landlords, so every client is receiving
thing. But does that shiny new thing save the information they want, in the way they
you time? More importantly, does it save want it. And you can create clear lines of
you time repeatedly? And not just your communication by automating tasks such
time, but also everyone else’s time – your as late payment reminders and more.
team, clients and stakeholders?
The value of implementing the right
2. Controlling the online
technology lies in its ability to save everyone experience
time, over and over and over again. Let’s face it, we all like to be in control.
And we’ve been conditioned by the online
Here are four ways technology can help tools we use to expect this control in our
you save time. everyday lives. Consider social media.
When we set up our social media profiles,
1. Automating personalised we select our preferences – what type of
communications posts do I want to see, what kind of alerts
No one wants to feel like they’re just do I want to receive and who do I want to
another faceless person in a crowd – be connected with. It’s all about ‘me’.
and that includes your clients. We all
want to feel special and we all want to It should be no different when it comes
be communicated with in a way that’s to business. You don’t need to control
personal. every bit of information that flows to your
clients. They shouldn’t need to call or email
Gone are the days when a letter or email you every time they want the answer to a
addressed to “Dear Sir” or “Dear Madam” simple question.
will cut it. These days we expect to
see our name (spelt correctly!) and we Implementing the right technology can
expect the message to be personalised. ensure your clients have access to the
We expect the businesses we deal with information they’re after whenever they
to understand our needs and provide need it. From online knowledge bases and
desirable information, products, services training videos to self-serve preferences
and solutions. And we don’t pay attention if and user portals, the options are endless.
there’s no effort to communicate with us in Every time a client engages with one of
a meaningful and pleasing way. these tools, it saves you time because
they’re not dialling your number or filling up
While providing the personal touch may
your inbox.
seem time consuming, it doesn’t have
to be. Technology can save you time by PropertyTree’s Landlord & Tenant portal is
making your communications more the perfect example. Landlords and tenants
efficient and personal. always have lots of little questions. Whether
32 | The Real Estate Institute of New ZealandFEATURE
it’s a question from a landlord about the 4. Time to build relationships
status of a repair or a tenant asking when Think of technology as your helpful
their rent is next due, it all takes time. With sidekick. It’s an important tool you can
PropertyTree, all they need to do is log in use, but on its own it isn’t the answer to
to the portal and find the information they everything.
need. It allows landlords and tenants to
take control of their online experience and, Why? Because real estate is a people
business.
in the process, saves you time.
Real estate has been and always will be
3. Maximising every minute about relationships. People want to deal
These days, we live 24/7 lives. Whether it’s with people, and property managers
business or personal, we’re always ‘on’. are dealing with what is often one of
their clients’ biggest investments. While
Out of the office, out on the road and out
technology can help facilitate a transaction
of business hours, we all need the right
it will never be able to completely replace
technology solutions at our fingertips to
people.
get the job done. You want on-the-spot
access to the information and data you The value of technology lies in its ability
need, no matter where you are. You can’t to save you time. Good agents need to
afford to be chained to a desk. That’s why be able to give good advice and positively
it’s essential for your business to implement influence interactions with clients. So by
cloud-based technology tools. letting technology do what technology
does best – which is a lot of the more
PropertyTree is a cloud-based property
routine and mundane tasks – you can get
management solution that helps property
back to building stronger relationships with
managers make the most of every minute
your clients.
of their day. You can access everything
you need whenever and wherever you are.
Think about it. If you’re out and about and
a client asks a question, you don’t need to
Developed by Rockend, PropertyTree is Australia and
wait until you’re back in the office to provide New Zealand’s first cloud-based property management
the answer. All you need to do is pick up solution. You can experience PropertyTree firsthand
your mobile device and everything is at your with a free demonstration by calling 09 909 7093.
fingertips. No down time. No time wasted.
SPRING 2017 | 33SECTOR RURAL
Turn limits
into profits Alastair Taylor
Farm Sustainability Services
Manager, Ballance Agri-Nutrients
By 2025, more than 75%
of New Zealand farmers
F arming within Limits is shaping to be
the next big challenge for rural New
Zealand.
Overseer® supports farm
business goals
Overseer is a unique tool, which allows
will be farming within Regional Councils have a requirement for farmers and landowners to model nutrient
limits. Many may need to farmers to implement resource management movements and losses from a farming
rules by 2025. Whilst each region has system. Because its outputs can be used for
act now for a sustainable differences, the requirements of the National compliance monitoring, Overseer® has often
future. Policy Statements on Freshwater and the been viewed as a regulatory tool. However, it
recent “Clean Water” consultation document was originally developed to support cost-
is that nutrients, effluent, fecal coliforms effective fertiliser recommendations and can
and irrigation are becoming more closely be hugely valuable as a decision support
regulated. tool for your farm business. Agricultural
consultant Phil Journeaux of AgFirst has
Such rules will have an impact on the valued the benefits of Overseer® to the New
processes which vendors and purchasers Zealand farming sector at $271 million per
may need to follow in each region – and year through its ability to save cost and time
some impact on land prices is anticipated. on-farm, improve nutrient management and
The challenge for many farmers and rural support research.
professionals in these new regulatory
environments is grappling with the rules Overseer® also works well with other
and the tools or systems required to farm systems tools, like Farmax and
comply, especially if they are considering MitAgatorTM. Overseer® is powerful but
moving to a more regulated region as per complex and farmers need to work with
the below table. a proficient user to get the best out of it.
The fertiliser companies (Ballance and
Ballance has established its Farm
Ravensdown) have both established
Sustainability Services team to help
specialist teams who are able to draw
farmers get the best from their land, and
on decades of farm system and nutrient
meet compliance requirements. The
management experience in providing
team works with regulatory and industry
nutrient budgets and Farm Environment
bodies such as the Regional Councils and
Plans to customers.
Levy Boards to help shape compliance
and consent requirements. Ensuring that The Ballance Farm Sustainability Services
rules are implementable in a way that team can use Overseer® to develop Year
produces sustainable outcomes – socially, End Nutrient Budgets (which define the
economically and environmentally. The Baseline nutrient loss, or Nitrogen Reference
team also keep on top of developments Points in many council rules), and test farm
in associated tools and technology – like system scenarios to establish their feasibility
Overseer®. under the new rules.
Rules in Place Rules in Development Not Yet started
More information
about the team can Otago Southland Westland
be found at www. Canterbury Canterbury Taranaki
ballance.co.nz/
Our-People/Sales-Staff/Farm- Marlborough / Tasman Greater Wellington Northland
Sustainability-Services, and if Horizons (Manawatu/Wanganui) Hawke’s Bay
you are in the Waikato
Hawke’s Bay Waikato
www.ballance.co.nz/Our-
CoOp/Sustainability/Waikato- Waikato Bay of Plenty
Healthy-Rivers
Bay of Plenty Auckland
34 | The Real Estate Institute of New ZealandRESIDENTIAL PROPERTY MANAGEMENT SECTOR
Leading the way with
growth and opportunity
REINZ 2017 Property Vesna Wells
Management Conference National Property Management
Specialist, realestate.co.nz
Growth was the overall
theme for the 2017 REINZ
T he line-up of speakers was fantastic
with experts in their field sharing their
ideas and thoughts, with a thorough
REINZ Chief Legal Officer, Lisa Gerrard
shared updates on all the advocacy and
advisory projects that she has been working
Property Management understanding of the importance of the work on over the past 12 months and more.
done by property managers. Lisa gave insights to the updates made on
Conference held at the damage (Osaki case) and standards for
The two-day conference was once again
superbly situated Waipuna led by the fabulous MC Michele A’Court,
methamphetamine contamination in rental
properties, before opening up to the floor for
Hotel and Conference whom is not only funny and dynamic, but
questions.
her understanding of the property industry
Centre on 3 and 4 August. and her insights added strength to the Day Two got down to business, with
The REINZ Residential conference, quoting at one point, “My house presentations on investors moving from
Sector Group together makes more money in a year than I do”. private landlords to working with property
managers; updates on compliance and
with the Events team at REINZ Chief Executive, Bindi Norwell, was
property manager audits; plus, insights
present throughout the conference and gave
REINZ worked hard to and advice on applying for subsidies for
a great update on the current direction that
insulation before regulations become active.
present an interactive, The Real Estate Institute of New Zealand is
heading and the exciting developments that The Residential Property Management
insightful and relevant line are on the way, including REINZ becoming conference was lucky enough to be
up of speakers for REINZ more prominent in the media space and presented to, by a few very strong key
advocating on behalf of all members. note presenters, to break up regulation
Property Management and compliance updates. Linda Guirey
Day One of the conference saw a great
delegates. variety of speakers and presenters take the
provided an inspirational presentation
on how life experiences are key to being
stage, to cover topics from dealing with
able to manage reactions and not jump to
investors from Asian communities and how
conclusions, sharing the story of her family
the industry could adapt and some tips on
and the challenging events that they had
communication for engagement, presented
to face during her husband’s transition to
by Leon Ma of Crockers; to the importance
becoming a woman. There was a strong
of social media and building your personal
theme of preparing for the future and
brand that will follow you regardless of
changing technologies from both Frances
location, time or employer, presented by
Valintine and Andrew Patterson as they
Heather Phillips of Phillips & Phillips.
spoke about bots and speech recognition
impacting our day to day lives.
The two days were filled with even more
great presentations, opportunities to
network and the ability to talk to all the
supportive event partners throughout the
event. REINZ thanks all the delegates for
attending as well as its key event partners
realestate.co.nz, Rockend and Skills for the
continued support of its conferences.
SPRING 2017 | 35You can also read
