The Real Estate Institute of New Zealand REINZ and New Zealand's biggest real estate agency groups have ousted the chief executive of Realestate.co.nz, Alistair Helm, as part of a management restructure aimed at reducing the cost of the industry's listings website.
An industry source said Helm finished last Friday after the board of Realestate.co.nz decided to dis-establish the role of CEO.
Realestate.co.nz is half owned by REINZ and half owned by the six largest real estate agency groups, including Barfoot and Thompson, Harcourts, Ray White, LJ Hooker and Bayleys. It competes with Trade Me.
Fairfax Moresby, chairman of Realestate.co.nz, was not immediately available for comment to Interest.co.nz.
Realestate.co.nz sent a statement to clients announcing Helm's departure and saying he had played a signficant part in Realestate.co.nz's growth, which the board thanked him for.
"Mr Helm is leaving as a consequence of a management restructure," the statement quoted Moresby as saying.
"As both the business itself, and online marketplace, has matured, the Board sees now as the appropriate time to review both operational structure and resourcing of the company as it charts its new future," Moresby said.
"The board and shareholders are excited by the next stage for the company. The restructure will ensure that both the selling and buying public, and real estate industry, continue to have access to the very best online marketing available."
7 Comments
In real speak - I wonder if they are finding it near impossible to compete (traffic wise) with TradeMe.
The thing about TradeMe is it provides very little (nearly nothing) in relation to adding to ones knowledge of the market. I note recently TradeMe has started listings recent sales in the area of the listing one is looking at - but it's a bit meaningless unless you benchmark those prices paid against some additional information - condition of property, RV (ratio of LV to CV), school zoning etc.
Zoodle was, in my opinion, the right idea about bringing together both the listings with some useful data;
http://www.zoodle.co.nz/cms/about
But I don't think it provided as much good free information (i.e. that held by the real estate agents on sales history etc.) as it might have.
Alistair Helm gave them more profile than I think any CEO might have - the introdution of the regular market analyses was great. But then are real estate firms really interested in folks making considered decisions when purchasing real estate? In many cases, I think not.
"I note recently TradeMe has started listings recent sales in the area of the listing one is looking at -"
Great observation....they have been doing that for at least 6 yrs.....thu about 3 month ago, it did be come a little intermittentAlso "recent sales in the area" usually means the last 3 sales closest....which can and often is a km or so and in very different type of area.
Thatsa the trouble these days people take what they see and told at face value, cant be bothered to think or see it thru....in this case even look at the map above the 3 listed examples.
Steps.
Ohhh ouch Kate.....a little harsh there arent we....you think that real estate firms dont want folks making considered decisions!!!
The amount of information available on the internet about properties is staggering ...bear in mind that all the real estate firms have programs which they pay for giving even more info...eg property guru, rpnz, reinz plus all the Council websites.
There is no excuse for people making an uninformed decision about a property purchase.
But I do agree with your 1st point.....realestate.co.nz is struggling against trademe plus all the real estate companies have there own websites....harcourts, ray white, hookers etc.
Since the advent of a plethora of information for real estate firms comes the dreaded $$$$$ and realestate.co.nz is becoming costly and ineffective against the opposition.
.. you think that real estate firms dont want folks making considered decisions!!!
Next time you're buying ask the agent what year the current owner purchased and what he/she paid. All publicly available data (at a price) and they all have access to it .. but are they keen for the prospective buyer to know (or for that matter, to even know that such info is indeed publicly available)?
Had a neigbour selling his place in Kelburn.
Was going to go with an agent, but balked at the commission. Was told he could expect $430K max.
Listed it on TradeMe..... withing 48 hours he had an unconditional offer for $450. Deal now done & dusted. Agent came around and apologised/congratulated him!
I have a feeling it's not that hard to sell a decent house privately....
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