There will come a time in your kiwi immigration adventure when you wish to buy a house in New Zealand, which is why you are going to LOVE this week’s podcast episode!
Today, Liz chats with NZ Ahead’s favourite New Zealand real-estate agent (and very good friend) Angie.
Angie, a senior member of Smith and Bishop Real Estate in Taranaki, has been helping people buy and sell houses across New Zealand for over 13 years. This girl knows her stuff! (Plus, she’s a very good friend, so I can vouch for her personally.)
Sit back and learn all there is to know about buying and selling your home in New Zealand with Anjie.
You can contact Anjie directly by email: an***@************co.nz
Facebook: Smith + Bishop
Website: Smith and Bishop
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A Conversation with a Real Estate Agent: How to Buy a House in New Zealand
70,000 homes were sold in New Zealand in the year of 2024. So, I thought it would be a really good idea to invite my best friend Angie, who is a real estate agent, to come over to the house and tell me all about what buying and selling a house in New Zealand entails.
“I remember an agent saying to me, ‘They’ll take 200.’ Yeah. Well, she wasn’t working for the vendor, was she? No. What was she working for? Me? No, she was working for herself. She wanted a sale. She wasn’t a good agent.”
In this week’s episode, you’re going to witness a beautiful conversation between two old friends about what selling and buying a house in New Zealand looks like.
Angie’s Story: Moving to New Zealand
Lizzie: So, Angie, welcome to the podcast. Thrilled to have you with me.
Angie: Thanks Lizzie. I’ve been looking forward to this all week.
Lizzie: We’re very, very old friends. We’ve known each other since we moved to… Well, she moved to New Zealand earlier than I did. Why don’t you just tell people your story? How come you’re in New Zealand?
Angie: My husband had finished 22, 23 years in the Royal Navy in the UK and we had an amazing opportunity to come to New Zealand where he was going to join the New Zealand Defense Force.
It was backed up by an experience my brother and my sister-in-law had had the year prior and they came home with so much energy and excitement about their new lives in New Zealand that the curiosity was too much for us and we came over for a look.
The deal was done. It was a no-brainer. You walk and it just hits you that this is a lifestyle that you want to embrace.
Lizzie: And you had your little girl as well. When we came over Olivia was only three. That was probably how we met at school when the kids first started school.
Angie: We met on the tennis team. I remember you saying to me, “Are you the mum of the little girl that was crying in the classroom?” And I said, “Yeah.” And you said, “Just to let you know, she stopped the minute you walked out the door.” And I knew we were going to be friends then.
Lizzie: It’s so true that when you come to New Zealand you recreate history, you recreate memories, you recreate layers with new friends, new family.
Getting into Real Estate in New Zealand
Lizzie: I want to talk to you about how you got into real estate.
Angie: By accident. I’d come over. The plan was Olivia was only three. I was going to be a stay-at-home for a while because I’d always been a working mom. It became quite apparent to me that I’m not meant to be a stay-at-home mom. So, I got a job in banking.
Then we bought a property here in Okura and the lady that sold me the house said you’d be great at real estate. And I said, “You got to be kidding.” She said, “Look, you can do this.” And I said, “Well, I’m not qualified.” She said, “Look, you can get qualified. But what you can’t teach is what you’ve got.”
So, it was one of those serendipitous times.
And that was 14 years ago this year.
Lizzie: How do you become a real estate agent? What do you have to do?
Angie: It’s a qualification. It’s a profession here in New Zealand. It’s an NCA level four. You start as a sales person. It’s an ongoing course of paperwork, practical theory, learning because the one thing that people don’t realize, I think, when you get a real estate agent, especially coming from the UK, is that we are audited, we are overseen, we are regulated to a very high degree.
You almost need to be a paralegal, a builder, a surveyor, a social worker. You need to learn things about cladding, about title, about land information memorandums.
You need to learn about what is considered a bedroom. You need to learn how to prepare legal documents. A lot of the conveyancing is prepared by real estate agents and then given as a contract signed deal to the lawyers who then enforce the conditions and the terms before settlement.
Lizzie: So, there is a lot more to it than turning up and showing someone around the house.
Angie: We can be held accountable. Your public liability insurance is really important. It’s our job to know what the lay person doesn’t know.
So, if I was showing you a house or if I was talking to a vendor, a seller, I would want to be knowing what kind of… is it piles, is that wooden piles, is that concrete piles? What’s the cladding? Is that plaster overboard? Has it got a cavity? Are we talking eaves? Are we talking a decramastic roof? Are we talking long run roof? Is it iron? You need to know whether it’s single aluminium, double glazed.
Then you need to find out, is there something wrong with your title? Is my garage on nextdoor neighbors land? We need to check that out. Is it a cross lease? Is it a unit title? Is there a body corp? All these different things we need to know, understand, and be able to translate to a lay person so that they can make educated choices in one of the biggest decisions of their lives.
Lizzie: I should have mentioned as well that back in the UK, you worked in law, didn’t you?
Angie: Yeah, I was in the law. I think my level of understanding I was probably more fortuitous than a lot coming into real estate. I had a legal background and worked at the bank for a couple of years. So having that industry knowledge is my point of difference, probably compared to a lot. And also my expectation of myself. I have a very high expectation of what I want to produce for my clients.
Lizzie: Your personality is… people warm to you. You’ve got the sort of personality that people trust and warm to you. And now if you combine that with real proper knowledge, it’s perfect.
Angie: Over the years my business mostly comes from either repeat business or referrals. I think it’s all about treating people how you would like to be treated.
If I’m dealing with somebody that’s in their 70s or 80s, I think, how would I want my mom and dad to be treated? I love it when youngsters are coming onto the market in their 20s or 30s buying their first home, making sure that I give them as many tools as I possibly can to keep them enthused about what they’re doing because it can feel very overwhelming.
They’re dealing with banks, they’re dealing with lawyers, it may be the first time that they’ve ever spoken to a lawyer in their lives, and understanding the process.
How do I go about making an offer? What happens if my offer is accepted? What happens then? What do I have to do? Who does this? And making sure that you’re holding their hand right up until you hand them the keys.
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Key Considerations When Buying a House in New Zealand
Lizzie: You said something earlier about you need to know what a bedroom is. How do I know what a bedroom is?
Angie: Years ago… and we’re finding case law is coming up now.
These are actions that are actually going through the courts. Nowadays it’s things like… in the advertising it says it’s a four-bedroom.
You want to check with the council to make sure that that conservatory that’s been changed into a fourth bedroom has been legally changed to a fourth bedroom.
Bedrooms have to be a certain size per ratio to light for window. So there’s size implications on bedrooms to windows. And then there’s interpretation of, well, if it’s a window going out to an enclosed conservatory, is that natural light?
If you go, “Oh, that’s great. I don’t mind if they’ve advertised it as four bedrooms, but legally it’s only three bedrooms.” Well, that’s fine right up until you sell it. So, that may have a price implication.
That may be something you can negotiate on. You know, you’re asking X amount.
It’s actually a three-bedroom plus an extra room that can be used as an office. That’s a price negotiation point. So, then you can knock the price down.
Lizzie: A four-bedroom house compared to a three-bedroom house, there’s a price difference.
Angie: Yeah.
The Real Estate Profession in New Zealand
Lizzie: So, you get qualified. What happens then?
Angie: You find a mentor. I was fortunate enough that the lady that employed me to work with her was a very highly successful real estate agent.
With my background and her drive and her knowledge, I learned fast and I learned lots of skills. Now it isn’t that you have to mimic… you take and you make it your own because obviously this lady’s personality wasn’t my personality. So you learn and you start… it’s like a tradey doing your apprenticeship.
You can’t go solo for 6 months on your own anyway. You have to have your hand held by a senior member of staff when you’re dealing with things like contracts and listing agreements.
It became quite clear after 12 months that it was something that I was so passionate about and whilst I was really enjoying working with her, I really felt the need that I needed to stand on my own two feet and just be Angie. I wanted my name to represent the work that I did to gain my reputation.
The law changes everything based on decisions that are being made today. So, there’s things that I was doing 14 years ago that I wouldn’t dream of doing now.
Lizzie: Like what?
Angie: Just the way things are done. Things like listing agreements. When I come to list this house, the forms are probably something like 10, 12 pages long and we have to have really strong conversations about disclosure obligations, about your vendor warranties.
As a vendor you’re selling this house warranting that everything is in perfect working order, that you have a key for every external door, that every window opens and shuts and locks, that there haven’t been any leaks, that the next door neighbors aren’t boiling meth, that there hasn’t been a suicide in the garage, that the oven works, that there’s an extractor fan in the bathroom, that you haven’t had any leaking because the roof’s looking a bit dodgy. We have to have very frank and open conversations about the disclosure obligation.
Lizzie: Is that what that means? When you disclose, you have to tell the truth about everything.
Angie: Yeah. So, years ago, people didn’t. “I’ll just paper over that massive crack.” That comes back to bite you now. So, if somebody buys your house and within the first week, drip, drip, drip… you’ll be getting an email from your lawyer.
There’s things like asbestos. A lot of properties that were built in a certain time frame in New Zealand had asbestos cladding. If it’s encapsulated, which means that if it’s completely sealed and not broken, so none of the fibrous material can escape, it’s deemed of not any serious consequence. But again, it’s still something you have to disclose. And again, those kind of issues will have a price point.
For somebody, it’s not a problem. For other people they go, “Well, we might want to re-clad.”
Lizzie: So if I’m selling… and I know that there’s a leak behind the fridge that stinks of damp and I say to you, “Look there’s this really bad leak but can we just keep it? Just don’t mention it.”
Angie: This is where integrity comes in and integrity to me is everything.
I would have to say, “Look, Lizzie, these are my obligations. As an expert in the field, this is my advice to you. You’re only going to be doing yourself a disservice if we don’t disclose this because if somebody finds out at a later date, A, they’re going to distrust us and they’re going to think, ‘What else is wrong?’ And you may lose them. But not only that, if you don’t take my advice to disclose it, I’ll have to walk away from this deal because I cannot put my name to a contract that I legally know something I need to disclose and you’re asking me not to disclose it. I have to walk away.”
Lizzie: So when you said earlier, “I’ve got to be a social worker,” you’re quite right.
Angie: It’s not just a case of Lizzie and Brian selling up to go over to Napier. Sometimes it’s Bob and Mildred are getting divorced. Sometimes it’s Pauline who’s lost her mom. Sometimes jobs are taking them overseas and he wants to go, she doesn’t. It can be a myriad of things.
Sometimes it’s an old lady that’s now been widowed and she’s having to sell the family home that they’ve had for 30 years because she can’t maintain it without hubby.
So you become… we become very close. I become very close with my vendors very quickly. We have this immediate honeymoon because we know each other so quickly. “Can I bring a buyer through on Tuesday?” “Oh yeah that’s fine because I’m off to the doctors.” “Oh I hope everything’s okay.” “Oh yeah I’ve just got my sore knee.” So you get to know family activities and you learn to respect that.
We’ve all got skin in the game. I want to do and be the very best agent that you came to me to be, but I want you to have not only the best service, but the best outcome. So, it’s not a case of, well, for me, it’s not a case of just doing a quick deal, getting it sold. It’s about this one matters. This one matters. Wanting to do your very best each time is why you get good because it matters.
How Real Estate Works in New Zealand vs. The UK
Lizzie: This is completely different to the UK, isn’t it? In the UK, estate agents… there’s no individual estate agent. That’s what I really noticed when I came here was people, real estate agents have their picture on the board. And I was really shocked about that at first.
Angie: Because it’s our business. We’re self-employed.
We’re contractors to the umbrella under which we sit. So the firm I work for is Smith Bishop and I’m Angie working under the auspices of Smith Bishop. But I’m Angie working for Angie and it’s my business.
So you’re promoting yourself, your expertise, because obviously you want people to know who you are.
Not everybody knows a real estate agent, although Taranaki is a very small place and most people do know a real estate agent. People make choices for very different reasons. Some people make choices because they’ve known this person since they went to school.
Interestingly, even though I’m not a local, even though I’ve been here 18 years, still not a local… you’ll always be an import.
What I find now is that people investigate me. They’ll research me. They’ll Google me. They’ll check out my bio. They’ll see what I’ve done in the past. They’ll come to my open homes. They’ll interview me without me knowing. Open homes are very important place for me.
People who come along to an open home and I’ll call them up afterwards to say, “Thank you so much for coming through the open home. It’s lovely to have met you.
Was there any further interest? Can I help you with any questions?”
And they’ll say, “Actually, Angie, we didn’t come to look at the property. We came to look at you.”
Check me out. How I conduct myself. How I follow up.
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Lizzie: That is a good idea. If you’re thinking of using an agent and you’re not sure, that is a good idea.
Angie: Clients come to me and say, “We were going to use X, but we went to an open home and she practically ignored us and was flirting with the men in the corner.” Or, “We went, there was no information. Every time we asked a question, we were told, ‘Oh, I’m not sure.'” And it’s our job to know.
On the rare occasion, I’m not saying I will always have the answers because you never know what the question’s going to be.
But you should know the size. “Oh yeah, it’s 999 square meter section. The house is 222 sqm. Yes, we have got insulation in the ceiling and in the walls.”
You have to be able to answer people so they A, don’t think you’re an idiot, but also that they trust that you are with them in this journey.
While we have a fiduciary relationship with our sellers, which is the highest level of how you respect the mutual relationship with your sellers, we also have a standard of care for our buyers while we’re working for our vendors.
Lizzie: I was going to ask that question. Who do you work for?
Angie: It’s interesting because I think in the States and in Aussie, I think they have buyers agents as well as sellers agents. Here, although I think in Rotorua or Taupo they have buyers agents or sellers agents, but predominantly in New Zealand, you are that double-sided coin. Your level of relationship is highest with your vendor, but you have a duty of care to your buyer.
Your relationship is still very important with your buyer. Which is why the whole openness, the disclosure and the communication has to be fulfilled to a level that you are informing both sides and educating both sides to where you are at and where you’re going with it.
Lizzie: Say you’re selling my house for me and we have a really good relationship. I’ve told you about the crack. I’ve been really open. I’ve told you about all the dodgy stuff that we’ve got going on and I trust you and I want you to sell my home for me.
And then someone comes to look around my house and you and them just click and you get on really really well with them and they say, “Angie, is there any way… we’ve only got, I don’t know, 500,000. Is there any way you can get them to come down 50 grand because then we’d buy?” How would that work? Who would you be?
Angie: That’s never actually happened. But people talk about negotiation. It’s our job to be able to negotiate. A lot of agents don’t know how to… that’s very generic and I apologize… but a lot of people are intimidated by negotiations. My job is to get the best price.
So if you were that person I was showing you around and saying, “You know, it’s really not in our price range. We’d like to get… our budget’s only here,” I would say, “Look, I wouldn’t want to waste your time. But that said, it’s also my job to take all offers to a vendor. It’s not my choice to decide who puts what offer in.”
So if they say, “Look, we don’t see value at X amount. We only see it just below X amount,” I can say, “Well look, the vendors have indicated that’s not where they’re considering in this market. However, if that’s your offer I’m obliged to put it on paper.”
And then when I present it to you, my relationship with you is, “Look, Sarah and Dave have put forward this offer. I think this is their best offer simply based on what they’ve told me they can afford. It’s below our expectation. We’re only two weeks into our marketing campaign.
I don’t think you really need to consider it at this stage.” And then it comes down to, “Well, what else is happening? Well look, we had three people to the open home on Sunday. There seems to be at least one person interested. Why don’t I go back and have another chat with them to see if they’re ready to commit to come forward because they may actually be the ones that are going to offer you the price that we want.”
It’s not my choice. I don’t choose the buyers on what level they come in at. It’s my job to bring you all offers. Sometimes with the meat in the sandwich, especially with good old Taranaki farmers, sometimes they’re quite robust. “I don’t want to see any crap. Don’t bring me any crap. I don’t want to see it.” Legally, we’re obliged to get everything in writing.
Sometimes people say, “I don’t want to put it in writing. Just give them a phone call asking me if he’ll take it.” We follow instructions. And it’s always the vendor’s decision. The vendor will seek our advice, but it’s the vendor’s decision. It’s not my decision.
A lot of vendors will say, “Oh, what are the buyers like?” “Oh, look, they’re a young couple. It’s their first home. They’ve got a baby on the way.” And most people go, “Oh, we’d love it to go to another family.” Other people, it’s like, “Who’s going to give me the best price?”
Lizzie: That’d be me. Biggest money.
Angie: Same. But some people are… I mean I’ve had clients with huge hearts where we’ve had multi offers on the table and they’ve said, “I know these guys are offering us 50 grand more but we want this young couple to have a start.” Paying it forward.
Lizzie: I think that’s what happened here when we bought this land. I went down to the agent in the village literally crying saying, “Oh we love me and Brian love this land so much. You know we’ve come over from the UK.” And she went and told the owner, and the owner said, “I want them to have it.”
Angie: What happened post-COVID when the market here in New Zealand went absolutely crazy, nearly every property was being sold under multi offer. So multi-offer for those that don’t understand is when you are competing. You are in competition with other buyers to secure one property. So all offers are presented at the same time and you are told put your best offer forward. You may not get a second bite of the cherry. Remember that because that is important. They may not come back and negotiate. They may go and work with somebody else and not choose your offer. There may be a better offer.
Lizzie: But on the other side of that, why can’t you say, “Look…” Because I was just thinking back when we bought houses in the UK I remember an agent saying to me, “They’ll take 200.”
Angie: Well she wasn’t working for the vendor was she? She was working for herself. She wanted the sale. She wasn’t a good agent. Not everyone is like that.
If you said to me… sometimes I’ve got deals together for a client and they said, “Oh, well, we could accept that. We could make it work.” And I went, “No, this isn’t at the level that I would recommend you selling. Let me make a phone call.” And I’ve gone the extra mile. “Look, they really like your offer. They want you to have the property, but it is a little bit light of where they really want to settle. You know, I need you to dig deeper in your pockets. Can I get you to X? How close to X can I get you? Is there a compromise? They want up here. You’re here. Can I get you to here? How much more can I get you? Because these guys really want you to have it.” I’m not going to say, “Oh, yeah. They’ll take 200. They’ll take that.” Because that’s just serving me. When they come to sell, they’re not going to use me because I was the agent that told the buyer to come in low because they’ll take it.
My reputation’s built on integrity and doing the best that I can. It helps that I’m slightly competitive. So doing the extra negotiations is second nature to me.
The agent you’re talking about is the agent that will say, “Lizzie, I know that you’re looking at three other agents to sell your property but look if you choose me I’ll really cut my commission and I’ll throw in some cheap marketing.” That to me is the biggest red flag any seller should look at. Because if they’re so desperate for your business, they’re having to buy it by cutting their own worth. They can’t negotiate their worth, they’re cutting it. How hard are they going to work for you? And if they’re throwing in stuff, how much are they valuing the job that they’re doing? What level of service are you going to expect?
My gran… you always get what you pay for, right? Sometimes it’s okay to buy the cheap shoes because you only wanted it for that one night out and if the heel falls off afterwards, you’re not bothered. But when you’re selling a house, you want Louis Vuitton. You don’t want a jandal. The desperation in those agents… people unfortunately see the dollar and they go, “Oh yeah, this is going to save me 10 grand. Oh, it’s going to save me 20 grand.” But what they’re not seeing is it’s probably costing them 40. Because they’ll bring you the cheap offers and they won’t negotiate. You think you’re winning, but you’re losing. They won’t go that extra mile for you.
Fees and Process Differences
Lizzie: In the UK it is very different and the law is very different. Also, the agency fees in the UK, I think it’s like 1% or 1.5%. And what is it here?
Angie: Generally thereabouts 4% up to the first 350,000 and 2.5% thereafter. There’s some serious coin but obviously what a lot of people don’t know is at the beginning of most agents career 50% of that goes to the boss, goes to the umbrella. Then your tax and your GST. Then your expenses, your fuel and all that.
But in the UK, I remember I sold my houses. I’d get a phone call saying, “Oh, Mr. and Mrs. Smith want to come around tomorrow. They’ll be there at 2.” “Oh, okay. I’ll be there.” And I showed them.
Lizzie: What did they actually do? Nothing. They put a flyer in the window.
Angie: Is that because their percentage is lower? So they’re not working as hard or it’s not valued as highly. But also, come back to beginning of conversation. We also do the paralegal stuff. So they get the names and the offer and send it to the lawyers or to the conveyancers who do all the work. So they’re just basically an introduction. I’m sure there’s more to it. They’ll do follow-up phone calls and all those kind of things. But I think whereas we are very much hands-on from everything.
I mean as soon as I get a listing I would have already have got your title and if there was interest on title which means it could be an easement I need to know where the easement is because if Fred says, “I want to build a big double shed there.” “Oh Fred you can’t. There’s an easement. There’s a pipe going right through there. You can’t build on that.” Instead of saying, “Oh look at that space over there Fred, a great space for a double shed.” You have to know that.
So I would have known about the title and finding out if there are any interests, any covenants. A lot in Okura, at the paddocks, they’ve got covenants. You can’t have cats.
Lizzie: Really?
Angie: Because it’s so close to the national park. When they had permission to do the subdivision, part of the deal was that they would create that lake, covenanted area, bird sanctuary. So, of course, you can’t have cats. People do. But my job, I’d have to disclose. You can’t bring fluffy.
I need to know these things. I would have to get the property file from the council. Most councils will have the history of the house from when it was built, all its permits, all its certificates, all its compliance. And I would have to read that report and understand it because I can’t just say there’s a report off you go and read it. I have to say, “We do have a report. I need to bring to your attention page 10, which references the fact that the plumbing wasn’t signed off. Or the gas was connected, but it never had a certificate.” So I need to understand that whereas I don’t think they do that in the UK.
And then also if you’re doing a subdivision and you’re selling sections because obviously selling land is then different.
You need to know about the fencing act. You need to know about getting geotech reports because you have to make sure that you’ve got clean fill. You need to be able to go into tenanted properties and know whether or not it’s a healthy home compliant, whether or not you’re recommending clients to have a meth test before they purchase.
I don’t remember any of that in the UK. That may have changed.
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Pricing and Marketing Properties in New Zealand
Lizzie: What is different here though is… why do they not put the price on the houses? It’s changing. I have noticed it’s changing, but some houses are advertised and there’s no price on it. What’s that all about?
Angie: You can sell houses differently here. You can do a regular tender, a date, closed envelope, opened on the day. You can do auction, sold under the hammer, looking for a cash deal. You can sell by negotiation, price on asking. You can do a deadline sale, best offers in by, and have like a four-week campaign.
So if you were coming to the market, the first thing I’d have to do was to give you a market appraisal. Your market appraisal is basically researching sales in the last… I like to do three months because that’s qualitative statistics trying to find apples for apples.
Well, you know as well as I do, it’s not like Coronation Street in the UK where every house looks the same except for the color of the door. In New Zealand, trying to find apples for apples is a bloody nightmare.
So, what you’re looking for is has it got similar section size? Has it got similar floor plan? Has it got double garaging? What’s the cladding?
I try to find comparisons that I know of sold that similar to yours and where you would sit in today’s market. Sometimes those comparisons aren’t available. I’ve got a good nose. My gut will generally tell me through my experience where I think it should be in today’s market. Bearing in mind the market changes. So what it might have got last year will be different to what it’s getting this year.
What it got post-COVID as to what it’s getting now is very different. So you have to know your market. You need to know your sales stats.
So there may not be any sales selling your house. There may not have been any other lifestyles similar to this size in this similar location.
So I have to say to you, “Look, Lizzie, based on these couple of sales, there was one in Lepperton and there was one in maybe Harefield, I think it’s, you know, I believe based on this information it sits in this, but I’m not confident that that is doing you the best service because I think your property is superior to those properties. And I think if we sold it at this, we’d be underselling, but I don’t know how much more the market will see it than I do. So, we can do a four-week campaign and the market will dictate where we think it sits.”
Now, a good agent, if Joe Blogs was coming to the open home and saying, “Oh, for God’s sake, Angie, why don’t you just tell me what they want for it? What’s the price?” You get people saying that all the time.
Lizzie: Oh, really?
Angie: All the time. It’s education. And if you’ve got a good agent, a good communicator, they’ll say, “I know, Bob. It’s a pain. I am so sorry. Look, it’s difficult for me too, but you know what? My job is to get the vendor the best offer. And we don’t know where it’s going to sit in today’s market. It could be at 620. Somebody may see value at 680. Now, I’m not going to turn away at 680 for my client in today’s market. So, if the interest is at 680, then that’s where we’re selling. If the market tells me it’s only at 560, then the vendors will decide whether or not they’re still selling.”
So, it’s almost like you’re testing the marketplace to see. And then after four weeks, if you haven’t got any offers, generally after four weeks, I would then say to the clients, “Right, we’ve had three open homes. No one’s seeing at 680. Most people are seeing it 590 to 620. Why don’t we stick a price on it? Offers over 599.”
So, we’ve tested the market. The market, there isn’t a buyer that’s jumping up and down has to have it at any price. So, let’s now we’ve tested the market and I’ve got qualitative feedback because the first thing I’d do to you, you would come and I’d ring you and say, “Thanks for coming. Compared to what else you’re looking at, Lizzie, how does it compare?”
And you’d sort of say, “Oh, yeah. It’s definitely nicer to the one down Bob Street, but it’s not as nice as the one that I fell in love with up at Smith Street. And where do you see it price-wise compared to those? Well, you know, Smith Street are wanting seven, which is really amazing for that.
And I don’t see it there. Maybe early sixes.” And it’s like, “Oh, that’s interesting. Thank you so much. I’ll pass that back.”
And that’s information. So, if we have five buyers that are telling us they see it in the early 600s, we know that that’s where the market is. And the market is the buyers, not what I think it’s worth, not what the vendor thinks it’s worth. It’s what somebody’s prepared to pay for it. So, we can have all the stats in the world, but ultimately where those offers come in will dictate where the market’s doing it.
Lizzie: What would you say then to someone who is new to the country, they’re buying their first home in New Zealand, there isn’t a price on the market like you’ve just said? And they don’t know.
Angie: First of all, you need to talk to the agent. You can, if you don’t want to do a face to face, the apps online, the websites, there’s always a little box that you can say, “Hey, what’s the price talk?” They may not be able to give you a price, but you can ask, “What’s the price indication?” or “What’s the price talk? What range is this falling in?” So that the agent isn’t feeling like you’re pinning them down, you can give them an indication.
So if you were ringing me up and the house was 500 and you’d say, “Look, Angie, you haven’t put a price on this property and I’m really frustrated because I don’t know whether or not it’s something that I want to commit to if it’s not in my ballpark.”
And it’s like, “Lizzy, what’s your ballpark?”
“Oh, well, I’m at 450 and I know that ideally we’re looking for something with a five on it.” I’m not going to waste your time. I’m going to say, “Look, Lizzy, it’s probably not in your price range, but I tell you what, I’ve got an open home on Sunday.
If you’re out for a drive, come and have a look and see what you’ll get if you go up to that next bracket.” And then you can decide whether or not you want to talk to the bank manager and give up a couple of coffees a week or the bottle of wine. Or you’ll recognize where the market is at this level.
I always love it when people ask me these questions even though sometimes they are a bit arsey about it. It helps me educate them. “Why is that so expensive? Because the other one across the road…”
Depending on which side of the road sometimes and what your outlook is will depend whether or not it’s an extra 100 grand. If you’ve got a sea view from this side but there’s no sea view from this side but you’ve got Kaitake ranges… people will pay extra for the outlook.
There’s some streets that are really popular. They’ll go, “Oh, let me know if a house on this street comes up. I will pay extra for that street.”
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Open Homes in New Zealand
Lizzie: Open homes are huge in New Zealand aren’t they? What can I expect? I want to ask you two parts of the question.
What can I expect from an open home? And if I don’t want to come to an open home and I want a private viewing as is the case in the UK, can I do that?
Angie: Yeah you can. Mostly, open homes are twofold. They are convenient for the vendor because it means that they can get the house once, get the housework done in the morning, get the kids out, and nobody touches it for two hours.
For the agent, we can see who our buyers are. And it’s good for other buyers to see who their competition is. If you’re selling, it creates that… I’ve conducted my own open homes where people have come in and then they’re already whispering because they like it, but they don’t want the others to know.
So they don’t want them talking to the agent before them. I’ll get whispers. “We’ll call you when we get home.” So they know that they’re buying in competition.
If you’re coming to a private viewing, quite often we do get private viewings and I’m more than happy to accommodate those as long as it’s convenient for my vendor. “Oh, we’re down from Auckland for two days. We’ve got four houses to look at, but we’d love to look at the one that you’ve got on Smith Street. Can we get through tomorrow afternoon?” Let me check my vendor, but let’s see if we can make that happen for you.
The difference is whilst they get that one-on-one experience, they think they’re buying in isolation. They think that they’ve got the opportunity to negotiate.
From an open home if it’s busy, you can see that there’s competition. Unless of course everybody’s walking in going, I’m walking out again. But if you can see this sense of interest, you know that you’re going to have to be serious and probably not procrastinate.
But if you’re coming to the market as an individual, you have the thought process that you’ve got the luxury to negotiate.
Lizzie: But that would freak me out though because if I was going to an open home and I saw everyone else whispering to the agent, it would make me panic.
Angie: It’s twofold. It creates the competition, but it’s also convenient for the vendor. And it’s good for me because obviously my eyes are on everybody.
You at an open home, I’m a gatekeeper. So people have to register.
Obviously security and all those things. We always make sure that we’re not spamming people. We do it simply for security and we always say, “Would you like us to keep your details on file?” “Thanks for today but it’s not for us.” “Great. Would you like me to keep your details and let you know something similar comes up?” “Brilliant. Yes.” And that’s excellent. Thank you. I have your permission to retain your data. Without it I can’t bombard you with other listing information.
Lizzie: I don’t know if I ever told you this story. When Jonathan’s house down the road was for sale, we just moved to New Zealand and we were in the area and we had nothing to do on a Sunday. We didn’t even have our money over here. We wanted something to do with the kids on a Sunday. We heard about this open home. I said, “Oh, we’ll go up and look at that hexagonal house.
We’ll go and have a look around at that.” Anyway, we turn up and it’s an open home and there was an agent there and they said, “Can I have your phone number?” And I coming from Britain. I was like, “Why does he want my phone number?” So, I gave him a fake number. Looked around the house, let the kids have a run around for a bit. That passed a couple of hours. Right back home. Anyway, on the Monday, I turn up at the school to get the kids to school and he’s only stood there and he said to me, “You gave me a fake number.”
Angie: These things happen. It taught me never tell lies because they will follow you up. We want to know if you are seriously in the market. If this house isn’t for you, I might have something else that isn’t on the market. It’s coming up. Would you like to be on my VIP list? Because people say to me, “Can you, as soon as it goes live, can you let me know?” So, obviously it goes out to social media, it goes out to print media, it goes on websites, but I will have a database of buyers that will get a primo notification. “Hey, we’ve just gone live on this property. If you want to see it, you ring me now.” So, a lot of my sales are sometimes from my database.
Lizzie: If you’re listening to this, don’t do what I did. Get your name down on the emails.
Angie: I’ve turned people away at open homes.
Lizzie: Why?
Angie: Because they didn’t want to give me their information. Again, gatekeeper and security. So, you want to know I’m not just letting any people rocking on up to your house going through your house that I can’t identify in some format. Sometimes it’s like, “Well, just give me a phone number. I’ll write, do not call.” They say, “Don’t call me. I won’t call you. I need to have this information.”
I can remember when I was first training, somebody put down Donald Duck because some agents let people sign themselves in because they’re too embarrassed to ask people for the information. They don’t want to have to deal with the conflict. I’m paid. I get paid to do a job. So, my job is to manage who comes through this house.
Lizzie: What’s the most people you’ve ever had at an open home?
Angie: 30, 34, 38 parties. So, a party could be one person. A party could be mom, dad, the three kids, and grandma and granddad. And their mates who’ve come to have a look.
Lizzie: Do you make them stand at the door and wait? How could you possibly keep your eye on all those people? They could be in the bedroom going through your underwear drawer.
Angie: An element is of trust, and you have to assume that most people that come, even the nosy ones, are there to look at the house. When there’s lots of people, you have to… especially if they’re queuing to come in, it’s communication. “Thank you so much for your patience, guys. Here’s brochures and information. Plenty of information on the kitchen bench. Help yourself. You’ll find me here. Shout out if you’ve got any questions.” And as they leave, “Thank you so much for coming. It was lovely to meet you today.” It’s about that respect and communication and expectation.
Lizzie: Last weekend I went live on a new property. Beautiful property, low maintenance, good size section, good heating, central heating… how often does that happen? And I had eight parties through. That’s a lot in this current market. If you get two to four, you’re doing okay. But speaking to a lot of agents, some of them, it’s quite dead open homes at the moment in certain price brackets.
The Current Market (Autumn 2025)
Lizzie: So let’s just talk about the market. First of all, we’re in 2025. Autumn 2025. What’s the market doing?
Angie: We’re quietly optimistic at the moment. Although certain global events have sort of put a scupper on KiwiSaver funds, obviously the investment stocks, etc. The first time buyers using their KiwiSavers are having to rethink. Depending on where their investments have been in the KiwiSaver may change at what level they’re able to purchase.
But the OCR drops we’ve had a couple of OCR drops. The cash rates, the interest rates have been coming down. So last year when things were really really tough, interest rates I think some of them began with a seven. I think some were getting to an eight. First-time buyers are up to 500,000 first-time buyers who need minimum 20% deposit.
Investors have started coming back. The new government last year changed the bright line test which was the investors test that went up to 10 years. If you were buying for an investment property if you sold it before 10 years you would have to pay tax. So they brought that back to two years. So investors are back. First-time buyers are back because the interest rates have been coming down.
What that does is allow this person to go to the next level which releases the person at this level to. So we’ve had some movement whereas the properties say between 550-600 to an 850 have been probably the longest to sell because that’s the aspirational purchase.
That’s the second or third tier on the ladder. And that’s Mr. and Mrs. both professionals working, both cars. Maybe little Bob’s going to get his first car. Maybe they borrowed extra money to do the conservatory or to do the double glazing. So their mortgage is already high. When the interest rates going up to seven, eight%, that’s putting huge pressure on their income.
The cost of living’s gone up. So they couldn’t afford to sell to go to a million dollar because the interest rates were too high. But what’s happening now? The interest rates are coming back down. It’s releasing everybody to do those moves again. Move up the ladder as it were.
People generally in the million dollars will always have a million dollars. You’ll find that people probably have the equity to use at that level or have been in their property a long time, so they have equity.
For people moving over that are considering all of this, it’s a huge subject. Speak to a professional. Your gut will tell you hopefully that you’re dealing with somebody that you can take seriously and trust. If not, speak to your lawyer, get a referral, speak to your bank manager, get a referral, and research them.
Check them up on LinkedIn, check them out on their websites, have a look. Go along to one of their open homes, check them out and then seek advice. Because everyone’s an expert, right?
Especially your mates in the pub.
Everybody thinks they know everything about real estate. But there’s a lot more to it than just arguing over a price. And there’s a lot more to it that you need to have your eyes wide open to make informed choices because it can be costly if you don’t.
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Final Thoughts and Advice
Lizzie: I really appreciate your openness. You’ve educated me. I can see why that woman said to you right at the beginning, you’ve got something really, really special. I’ve had you over here so many times and you’ve got a bouquet of flowers in the back of the car or a bottle of champagne and I’m like what’s that for? “Oh, that’s for the vendor. Oh, that’s for the buyer.” You don’t have to go that extra mile for people. And that’s why you are special.
Angie: It’s relationships though. Real estate is people. You’re dealing with people’s emotions. A lot of my friends that I know I’ve actually got friends with them because of real estate. I’ve either sold their house for them or they’ve bought a house through me.
Lizzie: Are real estate agents respected in New Zealand?
Angie: I think it’s changed a lot. Tongue in cheek there was always that “bloody real estate, bloody sharks.” I think there was always a reputation because unfortunately like any profession there’s always a few bad apples that ruin it for everyone. But because the profession has become so stringent now because of the education and the qualification and the ongoing training… we are obliged to do a minimum of 10 hours continuous training a year for your CPD and you also have to do 10 hours with a qualified entity to do ongoing training too. So you have to do a minimum 20 hours a year. And during that time you will learn things like case law.
Lizzie: If clients say to you, “I’m looking at an open home on Sunday. I’m a little bit nervous. What should I be looking for?”
Angie: You take your shoes and socks off, especially in the winter. You walk around the windows, make sure it’s not damp underfoot. You look under the sink. You look in the hot tank. If it’s got a tank, if it hasn’t got infinity, you have a look at the plumbing. You look for all the areas that you know might have a red flag. Don’t let your heart go, “Oh, put the Christmas tree there. That lovely bay window.” Be practical. Because you don’t want a money pit. Nobody wants a money pit.
Speak to professionals and get a gut feeling. Get good information and ask questions. If you’re not asking questions, you’re not educating yourself on one of the biggest things you’re going to do in New Zealand.
Lizzie: Do you look after the whole of Taranaki?
Angie: I’m based in Hawera. I’ve still got my property in Okura. I can list and sell anywhere in Taranaki. Whether it’s Bell Block, Lepperton, Patea, Waverley… I’ve sold land in the middle of nowhere. I’ve sold beachfront multi-million dollars. I love it all.
Lizzie: You light up when you talk about it.
Angie: I do love it.
Lizzie: I’ve been on this channel before saying, “Oh, I don’t know. Agents, I think they’re money-grabbing.” Sorry. Really sorry. Please forgive me because I didn’t know. I wasn’t educated. I thought you just swanned up and said, “Don’t look in the knicker drawer. What have you got to offer me? Make it 200 less.” I really appreciate you.
Angie: Just be aware though, not all agents are born the same. I would say maybe the level of service is not all the same. All I would say is I stick in my lane and I do my thing and I know the product that I deliver. Not all agents will deliver the same that I do, but maybe they will do something different. Maybe they will do something better.
Some of the youngsters… marketing, that’s a whole different thing. Marketing is huge in this day and age. You have to invest in marketing. Buyers won’t understand this, but sellers… oh, buyers will because that’s how you’re finding it. Social media is massive, internet exposure is huge. Print media is still available. A lot of people still do like print media.
The firm that I’m with, Smith Bishop, had some of the highest hits on our Instagram and feeds in March. 18,000 in one week.
So you’re always looking at different content of how you can utilize and maximize and do the best for your vendor. How can I show this other than just here is the house? It isn’t two-dimensional. A house is a four-dimensional thing that people will walk through the door and either love or they’ll walk through the door and go, or they’ll spend 45 minutes of my time and go, “Yeah, I don’t like it.” But they knew that the first minute they walked in the door.
Marketing is another thing and that’s an investment and that’s what vendors need to get their heads around. An average marketing plan for my clients is probably between $3,000 and $4,500, depending on the house, location, and where we’re pushing it. That is a cost to the vendor. But it’s going to sell your house. It’s an investment and that’s how you’ve got to think.
Lizzie: You would be absolutely brilliant on TikTok or Instagram Reels, where you just give advice, exactly like you’re doing now, answering people’s questions about real estate.
Angie: I am on Instagram: Angie Cook Smith Bishop. If you did want to message me and ask me questions, I’m more than happy.
Lizzie: This woman is who she says she is. So, if you do have any questions… How do people get hold of you?
Angie: Website: Smith Bishop website, or Angie Cook at Smith Bishop on Facebook, or Angie Cook on Instagram.
Lizzie: We’ll put all your details, your company number and everything. If you are moving to Taranaki, this is the woman for you. Thank you for being so patient and gracious.
Angie: Thank you. I’ve had a lovely time.
Lizzie: It’s been an absolute pleasure talking to you. Thank you so much for joining me and for sharing your knowledge.