Batman:

trig42:

 

In this market, the agent is doing the right thing.

 

 

 

They do have to present the offer, but they are working for the vendor, not for you. Their job is to maximise the selling price. They will probably advise the vendor that this is only an opening offer, and to wait until the deadline for a better one.

 

 

 

I was chatting to an agent who has been a family friend for over 40 years, and she was telling me that the market is crazy at the moment, and she prefers to do a full 3-4 weeks marketing and open homes and go to auction (or deadline). She estimates that in this area (outer Auckland) she is getting 2-300k more per house (on an average sale price of 1.2-1.6m) than the agents that are going straight to the vendors (who really know no better and are happy with the offer) with the first offer. This is an agent is is not 'desperate' for a sale, and is working for the vendor, rather than herself. What this is doing in this market is artificially lowering the sale prices, thereby perpetuating lowering vendor expectations.

 

Yeah this

https://www.nzherald.co.nz/business/investors-rushed-in-to-beat-lending-restrictions/PFKD3T7OXWRVE2FZFYDAJIX7PI/

Does this mean that people have to get their lending sorted and approved before the 1st March, or is March the 1st the deadline that people must have purchased by?

This houses deadline sale closing date doesn't end until early march, so it may stop some investors buying it. Although it is only 2 bedrooms and relatively highly priced, so I don't think it is suitable as a rental due to the returns on it being so low.