Articles

ARE REAL ESTATE FEES CHARGED BY REAL ESTATE AGENTS IN NEW ZEALAND FAIR?

The average time taken by an agent to sell a property is around 25 hrs (its actually 20 hrs but I will say 25hrs to be as fair as I can be.) An REINZ member agent’s fee @ $3.5% on $700,000.00 is on average $24,500.00 plus GST. That equates to an hourly rate of $980.00 per hour. If a $1million property is sold the commission will be around $35,000.00 which is an hourly rate of $1400.00.... > Read more

LEAKY HOMES – Is it the biggest fraud perpetrated on New Zealand by the NZ Government?

In 2004 the Building Act of 1991 was repealed and new legislation was enacted by the NZ Government. The purpose of the new Act is stated as being to set up a licencing regime for building practitioners and for the setting of standards for such things as safety to ensure the health of building... > Read more

CASE - GU V DU [2011] NZCA 577

This is a case where the parties had entered into an agreement to develop and sell property. A Joint Venture Agreement (“JVA”) executed by the parties. At the time the agreement was signed a listing agreement was in force between Mr Gu and the company for which Mr Du worked. As a... > Read more

ACRES – Helping vendors to take advantage of the changes on real estate selling

The act of property selling has radically changed with the advent of the internet. We see this every day now in the way people respond to and deal with information which they get online. In New Zealand the foremost internet site for selling property is Trademe. The site receives 1.4 million... > Read more

CASE - ANZ Bank V Manthorpe

This is a case where the Defendants had been unable to pay their mortgage payments on their investment properties and as a result were issued a Property Law Act Notice by the bank. The Notice expired and the two properties were sold. The Defendant’s argued that the bank didn’t do... > Read more

The Property Lawyer - Lawyers Challenge Traditional Real Estate model

The Property Lawyer back in April published a great article about ACRES. To read the article, download the full PDF here. > Read more

The State of the Real Estate industry

Consumer recently posted an article on the state of the real estate industry. A worthy read, go to consumer.org.nz to read the article. > Read more

Recent Leaky Home Case

Here is a case which was recently decided in the High Court. Mr and Mrs Adams had a leaky home. They had the home fixed and then did nothing for some years. Several years after fixing the home they decided to bring a claim against potentially liable parties.   Luckily for Mr and Mrs... > Read more

Recent Case Law and Statute Developments

At ACRES we know the importance of being up to date with the latest caselaw from the Courts and changes in law from Parliament. As a consequence we intend to bring you a case or two of note each month and keep you abreast of any Parliamentary developments. 1. Abolition of Gift Duty It was... > Read more

The ACRES Philosophy

The ACRES philosophy is centred around three basic principles – Price, Presentation and Promotion. We believe that if you get all three of these right you will substantially increase the chances of selling your property at a price which is at least the same as or above its market value.... > Read more

More Lawyers Should Sell Real Estate

By Craig Sisterson LAWYERS HAVE to take advantage of the opportunity they’ve been given to sell real estate, because it will mean clients get a much fairer and more cost-effective service,... > Read more

Lawyers Launch New Real Estate Alternative

A group of Auckland Lawyers are involved in launching a new real estate initiative which they believe will offer a true alternative from that which is currently offered by real estate agents. Not... > Read more

Updates for Property Market March 2011

There is no doubt that the property market in Auckland does not appear to be as buoyant as it has been over the past couple of years. However looking at historical evidence it would appear that the... > Read more

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