'Our First Home' Auctions How Much $$

[jimO]

didnt see any maori in the crowd

[Damap]

Surprisingly few bidders mostly "gee see me on TV tonight I go to auction"

[RHarris]

So are these houses now rental properties? Seems to be the way with these TV programmes.

[Damap]

And the Wardlaws made better money thanks to location and house size. Shows that renoing is not a license to print money.

[genius]

I felt the buyer paid much more because he didn't want to "lose face" being on TV - LOL!

[jrad]

First house sold for:


$720,500 less:
$532,000 Purchase Price
$92,000 Reno costs (half of this was gifted to them but that's not reality)
$40,000 on free gifts and silly game winnings throughout the series that you wouldn't normally be given
$35,000 (approx.) loss of salary income across the 4 contestants for 8-10 weeks @ avg. 65k income
$30,000 RE agent and marketing
$5500 Interest on 80% PP for 12 weeks I/O
$15,000 (council fees, valuations, rates, insurance, power, water etc)
Residual: $-29000

[RHarris]

You forgot nation wide TV advertising campaign take another $100k off. Lucky no tax on a loss......Still good money to be on TV.

[Damap]

I am picking Barfoots did it for free

[RHarris]

I think jrad is illustrating the buying and selling of the house in the real world not TV land. Yes most things would have been free on TV.

[donna]

I am picking Barfoots did it for free

I hear they could afford to given they made $1million in commission for every day in March - just in Auckland.

Auckland envy is alive and well amongst RE Agents I bet.

cheers,

donna

[kmor110]

I felt the buyer paid much more because he didn't want to "lose face" being on TV - LOL!

Agreed!!!!

[kmor110]

I hear they could afford to given they made $1million in commission for every day in March - just in Auckland.

Auckland envy is alive and well amongst RE Agents I bet.

cheers,

donna

Agencies... house prices keep rising, do their commissions as a % drop? Or just more money for doing the same amount of work? How do I get on the gravy train?

[Wayne]

Agencies... house prices keep rising, do their commissions as a % drop? Or just more money for doing the same amount of work? How do I get on the gravy train?

more money for same work (or less if the market is hot - they sell themselves).

[kmor110]

more money for same work (or less if the market is hot - they sell themselves).

Mike Pero got on at a good time.

*Googles "How to Start a RE Agency"*

[eri]

the million dollar state house structure at the end of the ak wharf

will now be completely funded by barfoots?

instead of just partially

council will be pleased