Real Estate alleged "Gang of 8" attempt to pressure media.

[Letterman]

http://www.stuff.co.nz/4581015a11.html

[exnzpat]

Classic Drama!

The problem with these dopes is that, in the end, they will indeed have to pull their advertising, because nobody will actually be buying! You can’t bully a consumer into buying something they don’t need, want, or cannot afford and singling out the media is just plain third world!

But the real question remains, can they pressure the Gang of PropertyTalk.com to stop their incessant, pessimistic posts, from up here on the very pinnacle of Mount Doom?

Frodo didn’t make it! Sauron has the ring!!

It looks like Middle Earth is in for a rough-ride!

[drelly]

I think that they are already pulling their advertising. Listing numbers have skyrocketed but our local property guide has shrunk by around 25%.

[Davo36]

I think vendors will be more reluctant to pay for advertising when they are told they will get less for their house etc.

They're happy to pay when they can get more for their property than they would have previous thought as they have been able to in the boom.

Now that they're likely to have to take a bit of a hit, the advertising (and also the real estate commission) will take a hit.

David

[halfempty]

It was interesting to note in the heat of the boom say 12 months ago that real estate mags were their biggest ever.

I noticed that there were less listings but bigger RE mags because everyone was splashing out on full page ads.....not anymore

I noted with interest today an agent sent me a listing they are marketing for $595k with a GV of $920k.

I might take a quick look at that one.

[Propoholic]

Davo36 wrote:

Now that they're likely to have to take a bit of a hit, the advertising (and also the real estate commission) will take a hit.

We'll start seeing agents offering free advertising packages and low cost/no cost auctions soon. I imagine most buyers are finding that agents are starting to return calls?

[AndrewK]

Davo36 wrote: We'll start seeing agents offering free advertising packages and low cost/no cost auctions soon. I imagine most buyers are finding that agents are starting to return calls?

Too true! I have an agency down here that previously finding an agent to deal with was impossible but now it seems one at least is being a bit more copoerative

[princess]

Half Empty - on another forum, that's instant profit of $325k!

Grab it quick, what a deal!

:-) heh heh.

[AndrewK]

Half Empty - on another forum, that's instant profit of $325k!

Grab it quick, what a deal!

:-) heh heh.

Or buy it and then call your local blue peak representatitve and tell them you want to sell your property for 75k less than GV........let them find you a buyer and if it works out you are 250K richer thanks to Phil.

[Green Fish]

halfempty: Check the parties to any recent sales of the property that might have contributed to the high GV. I have noticed that QV tend do adopt the a recent sale price when setting the GV, as long as it is not an obvious "off market" transaction. So as long as you don't push it too far, you can bump up the GV by selling the property to "yourself" (ie, a related party) for a high price.

[Rem]

I had a call from an agent today that I met at an open home 2 months ago to see if I am still looking.....
Also picked up the property mags today, about half the thickness than usual....

...the payments on the beemer must be coming up soon....

[halfempty]

Cheers guys,

I know there's going to be something fishy going on it's just going to be a matter of figuring out what the twist is that has caused the either inflated GV or under valued marketing price.

Either way it requires closer inspection.

And you never know it may be a deal at a certain price becuase many people will be scared off by it.