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

Nov 9, 2011

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 hits a week which is 3.5 times more than the Open2View and REINZ sites. The site is almost invariably the first “port of call” for anybody wanting to purchase a property.

If we look back 15 years the way in which Purchasers gathered information was through real estate agents. The agents held the information regarding their property listings tightly, with some agents shielding their listings even from their colleagues. A typical visit to a real estate office saw a potential buyer being driven around a number of properties which were on the books of that agency. The only way that Purchasers could gather information about what was on the market was through the real estate agents who were marketing the properties which were available for sale. Typically also the agents would meet the costs of promotion of the property knowing that they had sole agencies which were not likely to be pilfered or even known by other agencies.

Oh how this has changed. The advent of the internet has meant that the sharing of sales information has become not only desired but demanded by property Vendors. In an effort to meet their obligation to get the best price for their clients, real estate companies have had to change. They are only too aware that a reversion to the old “tightly held“ practices in respect of listings could see them being accused of torts such as negligence or breach of their duty of care to their clients. There is an internet saavy client base out in cyberspace which opens up new opportunities for selling property. Not only have new opportunities arisen but the whole process has become far more transparent and (dare I say it) straightforward. No longer can real estate agents make any claims that they sell properties. Real estate agents are now conduits, putting in place a marketing system which is essentially governed by the traffic generated through internet exposure of the property.

ACRES has taken advantage of the changes. ACRES puts in place the system for selling property at a price which will more often than not be half the commission rate of the established real estate firms. ACRES also provides legal advice from day one for Vendors in respect of what will normally be their most valuable asset. ACRES is the complete package to selling real estate.

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