A leading Queenstown real estate firm is slashing auction costs in a bid to tempt sellers.
Hoamz is looking to put 15 properties under the hammer at a cut-price bulk auction on September 19.
Instead of the usual fee of $3000 plus GST for an auction promotion, vendors will pay just $1000 plus GST per property. Normal agency commission also applies when a sale is made.
The lull in listings across the country has triggered the Hoamz initiative.
“On a national level, New Zealand is 15,000 homes short,” Hoamz partner and auctioneer Brendan Quill says.
“We know there’s an all-time low in listings so we want to get pro-active and show people we’ll put our money where our mouth is.
“What we’re trying to do is bring properties to the light and give them really good exposure.”
The auction promotion will target local, regional and foreign buyers.
Hoamz auctions so far this year have had an 88 per cent success rate, Quill claims.
The real estate firm’s Athol Street offices can hold up to 100 people but Hoamz will hire a larger venue for the big auction if necessary, he says.
Quill also has an open mind on the type of properties he wants: “We’re right across the board – we sell a diverse range from motor park cabins to expensive rural properties.”
And while he’s aiming for 15 properties, he’s happy to exceed that – the more the merrier, Quill says.
With fewer properties on the market right now, buyers are paying close attention to those which are for sale, he reckons – and the increased competition among buyers often induces multiple offers.
“Prices are solidifying – you can see it,” Quill says.
“There are buyers on our books and those buyers are actively seeking properties now.”
While winter listings may not be so popular elsewhere, the opposite applies in Queenstown with its influx of snow-seekers, Quill maintains.
Winter buyers are also reassured by viewing a property in winter sun – they realise they’re seeing it at the shadiest time, he says.
Quill encourages anyone even thinking of selling to ask for a free market appraisal, promising no strings attached.
Quill: “Give us a call, what have you got to lose?”