August 16, 2025 • 40 mins
Most homeowners who have bought and sold have been through the stress of timing things perfectly.
They need to sell their home before their offer on the next one is accepted, but they don't want to sell too soon and risk having to move out before closing on the next house.
Martin Cooper is Managing Director AREINZ at Harcourts Cooper & Co, joining the OneRoof Radio Show to discuss timing your buying and selling.
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News Talks
ed be brother.
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You don't have to put in your brother.
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Oh we got each other. And if you've got some word,
then you still got.
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The chain.
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You start from where you came.
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Brother.
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You don't have to.
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Lie. Oh I won't pretend that I know half the
hell you see. That don't mean it's something that you're
destined to repeat a stronger than anything. Guys, welcome back
to the Weekend Collective or welcome in. If you've just
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(00:58):
always catch up with it. You know where? All right,
this is the one Roof radio show. We want your
calls on O eight one hundred and eighty ten eighty.
You can also take on nine to nine to two. Now,
a couple of things. We're going to dig into one
of them if we've got time. We'll dig into what
the current best method of sailors because every market has
possibly preferred methods of selling and advertising. And do you
(01:19):
go for auction or you know, private treaty? Do you
name your price price by negotiation tender? Which I always loathe,
but there are people who say tenders great or sell
my house by tender. I think probably if you're a
bit flash or it's something a bit different about the property,
but we'n dig into that. But before that, it's so
easy if you're not involved in the transaction of property
to think, oh, well, you know, if we were to
(01:40):
sell our place and we want to move somewhere else,
we just sell and you know, hopefully we just put
a condition in the contract to make sure that we
could buy something and not get caught out. But I
think once you're in the in the throes of looking
for a new place and you've sold to buy, or
you have already bought something and you need to sell,
there is a stress because, let's face it, property is
(02:03):
not It's not like buying a latte. You know, I
have a couple of lattes and then you go, you pay,
or any sort of trivial transaction, even a car, which
is a bit more pricey. Property's a big deal. And
so the stress of timing things perfectly, I imagine, is not
something to be taken for granted. So you know, are
you going to be selling your house before you're off
if for the next run is accepted, but you don't
(02:24):
want to sell too soon, You're risk having to move
out before you've closed on the next house. Do you
need to find somewhere your else to live in the interim?
What do you do with all your furniture? So how
do you go about buying and selling in the same
market without putting yourself under as unnecessary pressure or stress? Anyway,
Martin Cooper's he's the managing director of Oh I can
(02:45):
never get this aari in z at Harcourts Cooper and Co.
And he's just made it here because so you've got
tangled up in some protest. So Martin, how are you going?
Nice to see you.
Speaker 3 (02:57):
He great to see you. Too good to be here
get through the protests. A few streets blocked off in
Auckland today. Yeah.
Speaker 2 (03:04):
I actually was just lucky with that because I went
a different way to work and as I did, I
saw I'd skirted around. I thought, oh, thank goodness, thank godness,
I didn't go the usual way because it would have
been that would have been trouble. What have been up
to anyway? How are you doing well?
Speaker 3 (03:15):
I've just come from this morning. One of my grandsons
had his third birthday party and Spider Man arrived to
entertain the kids. And there were ten grand kids there.
The whole tribe were there. So coming into your peaceful,
quiet studio is relaxing compared to oh, well you like kids.
Speaker 2 (03:34):
So when you had to leave, you're like, hey, listen,
I'm really sorry family, I've got to go, and I've
got this beverage. He's such a pain. I've got to
go do this property show. I'll really miss you. And then.
Speaker 3 (03:46):
Pace and quiet, but oh so joyful those kids and
full of sugar, you know, the kids parties and what
was this? Spider Man came in and entertained.
Speaker 2 (03:55):
Was it a convincing Spider Man? Like it wasn't he
quite well presented as Spider Man? Or was it good?
Speaker 3 (04:01):
And he brought a mate with him, a Captain America,
and two great young fellas. I spoke to my son
there and he said, I wonder how hung over those
boys are, but they performed very well.
Speaker 2 (04:14):
I think he might have been, Ah, well, you know,
that's the part of the Marvel franchise you don't get
to see, is it. Anyway? Hey, now you well have
hopefully heard my introduction there, and I haven't had to
sell and buy buying, you know, yet, because someone in
the first home. You know, we went from renting. In fact,
I bought the home we were renting, so we didn't
have to go anywhere.
Speaker 3 (04:34):
You kept it simple, didn't you.
Speaker 2 (04:36):
It was incredibly simple, and I actually am aware of
how lucky I am that that first transaction was. But
you know, people say, oh, you know, you just know
we're selling and we're moving. But there's a hell of
a lot involved, isn't there.
Speaker 4 (04:50):
Yeah.
Speaker 3 (04:50):
Well, years ago, the Reader's digested a survey on stress
that I wish I kept the article because I've always
referred to it. But they said, ask people what's the
most stressful thing in their life, And the three things
that came up was death of a close relative, which
is obvious, a separation, which is another stress of thing
(05:11):
in your life. And the third thing, third rated thing
in people's lives was moving.
Speaker 2 (05:16):
Moving, So it's not even not necessarily the purchase, but
the actual moving side.
Speaker 3 (05:19):
Just the whole uprooting your homes, your castle, like in
our lockdown, remember the lockdown, that was our place of safety,
and we get familiar with it. We have our outside
life and our home life, so disrupting that and if
you're anything like where we live collecting antiques and art work,
and I just the thought of shifting to me is
(05:42):
the messive workload of packing everything up.
Speaker 2 (05:45):
And does that mean you're never going to look at
you're never going to move?
Speaker 3 (05:48):
Well, I've got to support the real estate industry. We
expect New Zealanders to move at least every seven years.
Speaker 2 (05:54):
Actually, actually is there a stat around that, because seven
year thing triggers something in my mind.
Speaker 3 (06:01):
That's the seven year cycle, you know, that's how long
how often we might expect to interact with your average person. Yeah,
seven years, but there are people, there'll be people listening today.
Oh well I've been here for forty two years. You'll
send us broke for staying there that long. But if
you're happy in your home, live in it and love it.
But we're here to help if you need to shift.
(06:22):
And seven years it does. And there's people that get
their first little apartment to start at home. Then they
have a family, you know, they need to get a
bit more room and so, but it's not your everyday
thing moving.
Speaker 2 (06:34):
What are the what are the things you need to
ensure you get right? Because obviously that you know that
when we all remember a time when the property market
was absolutely you know, Gangbusters and the pressure of making
the decision and buying and selling and not getting caught out.
I mean, when a market's really on the move, that's
when it's a bit tricky, isn't it, Or is it
(06:55):
always tricky, or is it not tricky at all because
you work with the right people and you get good
advice and easy peasy.
Speaker 3 (07:02):
Any different number of configurations. But the thing is, if
you want to make a move, you've decided your home
is not fit for purpose anymore, not suitable for your needs.
So obviously you've already bought a home, like you're in
your first one, but you're deciding, right, we want to
do something else. We're going to upgrade or downsize, whatever
(07:22):
the circumstance it is. It is very worthwhile to have
a strategic plan and to get an advisor in it,
like get an agent you like and trusting to help
you because we're doing these transactions every day. I'll be
in the auction rooms last Thursday and we did it
was good about sixty percent clearance rate under the hammer
of auction. So we can get a bit blase as
(07:44):
agents about moving. Sometimes it's good as an agent to
do some moving yourself or sell your own thing, because
you become in the customer's shoes, you know. But get
someone you like and trust to help you and get advice,
and that would be getting your home set up for sale.
There's so much clients now with Have you got your
(08:08):
LIMB report? Is that all sorted out? All the council files?
Is everything right? You're near a floodplane? Have you got
any notifications of any change of roadworks or anything? So
go through everything in your property to make sure there's
minimal obstructions for people and they can come in look
at your home and make a decision to purchase. So
(08:30):
check out your property is match foot to go to market,
and then it is helping to get it beautifully presented
because you're in competition. The buyers are going to get.
Speaker 2 (08:39):
Your house ready for sale before you go and buy
anything else. Absolutely, so you always think your head on
that one.
Speaker 3 (08:47):
Yeah, yeah, I think yourhead. It's a bit a bit
like if you're going to take your car into a
car dealer to get an appraisal because you want to
upgrade your car. Most people think I'll give it a
little bit of a cleanup and put it through the washer.
You know, to have it looking well presented. So you
get your home as well present and well prepared, match
fit to be ready to play in the in the market.
(09:11):
And then once you've got that prepped up, you want
to get out shopping yourself. Get out look at a
number of properties and get a feel for the market
and look at right your sort of checklist of what
we want. We want a fourth bedroom if that's the case,
we want a home office. We want a larger section
and more level section, more garaging you get when we
want to pull whatever it is. Get all your criteria
(09:32):
and you can go into the property portals now and
it's quite helpful. You can put in your criteria, aent
can coach how to do this and then it'll just
feed you all the listings so you can start studying
the market before you're ready to go and participate. Do
your homework.
Speaker 2 (09:46):
So would you stick your house on the market, would you,
I mean this market for instance, away we're in a
market that's not you know, it's not moving as quickly
as we've seen in the past. Would you actually get
you know, start having the open homes and you know,
and be prepared for an offer before you're ready to
buy something myself.
Speaker 3 (10:06):
Well I would if I'm going to make a move.
You see, I can control as the seller the settlement date.
I can. I can put one hundred and twenty day
settlement date on my property if I want to. If
you want to buy my property, I say yes, it's available.
I haven't found something yet. You can buy it, but
I need three to four months to go find something else.
So I can control that.
Speaker 2 (10:25):
But in this market, somebody might be like, well, actually
we need something the next six weeks more interested in
your place, and the buyer has some say in that,
don't they.
Speaker 3 (10:32):
Well, if the price was right, if I came to
you and said, yeah, I want good house, there's a.
Speaker 2 (10:37):
Look you just got in your eye there, and I
saw Martin Cooper just switch into means it's good.
Speaker 3 (10:43):
Well, last time we spoke was about your raidable values,
and we were working out how to get that up
a bit so we could get you on the market
and upgrade you.
Speaker 2 (10:51):
No, my rate of value is fine because I'm rated
at more than the other my neighbors.
Speaker 3 (10:55):
You're in a good position. You were on this market ready,
so I.
Speaker 2 (11:00):
Get the feeling I'm going to be on the market
before the end of the.
Speaker 3 (11:03):
Back to that point, though, if you decided to go
on the market, you hadn't found something. If I found
you a buyer and that buyer was fifty or sixty
grand above what you hope to get, just as an example,
and they said, but we want to move in in
thirty days, you and your decision makers at home, you
(11:23):
might say, well, hey, we love the price. Excited about that?
Who cares? Why don't we just pack up? We can
put our stuff in storage. Rent and yeah, just rent
for a while, get a camp a van, have a break,
hire a b abnb for three months, or whatever it
may be. And because you've got a premium price, and
(11:44):
then your advantages, you go out shopping. And if you
imagine you're selling your house and I'm the agent and
I say, great news, Tim, I've got two offer, two buyers.
I got one that wants to seller's house, and I've
got this person's already sold and they're cashed up. He's
five grand less or ten grand less. But that's one
hundred percent certain. It's an unconditional deal. Or you can
(12:06):
wait and hope, what do you want? Yeah? You see,
so you get a commercial advantage if you cashed up.
Speaker 2 (12:13):
I was like, it's the expression a cash offer still
a real it's something that is in my head. That's
an inaccurate thing. But do is that as an expression
that's a cash offer? Because I always imagine a cash
someone turning up with a suitcase and going, what do
you think of this?
Speaker 1 (12:28):
Then?
Speaker 3 (12:29):
Yeah, I look one time on band camp I.
Speaker 2 (12:33):
Remember, I literally was about to say.
Speaker 3 (12:38):
One time, I remember guy came in paying a deposit.
It was only forty grand, but so, and it was
in two brown paper bags like you know the ones
you buy. You buy the dollar bags countdown at wherever
it is.
Speaker 2 (12:53):
Could have had some Kiwi Fried in it or something.
Speaker 3 (12:55):
Yeah.
Speaker 1 (12:56):
Yeah.
Speaker 3 (12:56):
And so my administrator came and said, oh mad, And
the deposits come in on whatever the street was, and
I said, oh great, good news. That's good news for
Friday afternoon. Says I know, but it's in cash.
Speaker 2 (13:08):
Shall just get you to drag your mic a bit closer,
stay relaxed.
Speaker 3 (13:14):
So there's cash here and the banks are closed. What
am I going to do? So I said, well, I'll
better look after the money. So I all week And
this would be about twenty years ago, when forty grand
and cash was seen like more money than today's dollars.
So I had to take the forty grand in cash.
One hundred dollar bills was hundred dollar bills. So I
had poker nights and stack the cash. No, I didn't quite.
(13:39):
I treated the money with the respect because it wasn't mine.
But it was a funny thing, just your feeling. Thank god,
it forty grand of cash looked big wads of one
hundred dollar bills. Now, of course we've got what we
call it the a.
Speaker 2 (13:54):
You don't even have checks these days, even.
Speaker 3 (13:55):
Though it's all electronic. But if someone comes in with cash,
now we've got a report it in Andy money laundering,
et cetera.
Speaker 2 (14:01):
So do you actually look back at that and go
wonder where that cash came from? Or was it just
a business where there's some cash?
Speaker 4 (14:07):
You know?
Speaker 3 (14:07):
Yeah, well cash was a bit more prevalent twenty years ago,
But yes I did wonder, you know, and that you'd
have people say it's drug money. What's going on? There's
always suspicion, but we weren't required to have ask any
questions or nowadays cash.
Speaker 2 (14:24):
What summer money would you have to Actually, I mean,
we're getting off the beaten track, but it is quite
interesting from memory.
Speaker 3 (14:30):
It's ten thousand dollars is sort of a trigger point.
But everything's done online electronic transfers now, and that's also
Remember when you first had a job or you were
of an age, you remember you got paid in cash? No,
I've always are you such a young man?
Speaker 2 (14:50):
Oh no, actually no, I do remember. Actually I had
a job as a tourist guide at Rainbow Springs, and
I'm pretty sure that the money we got was in cash.
I think we got a little envelope, your little brown,
little brown envelope, some money in it, and you'd open
it up and.
Speaker 3 (15:06):
Go, that's a win.
Speaker 2 (15:09):
Help good would love your cause on this, Not about
the cash and all that sort of thing. Ah, but
what has your experience being and how did you manage
the process, Because you can have a plan. But sometimes
people sometimes fall in love with the house and they think,
you know, before they know it, they've made an offer
on their place and they've got to get there's ready
for sale, somebody who's actually said Martin, just before we
go to the break, I think you like many overthink it.
(15:34):
I'm selling my place. Once sold, I'll open trade me.
I find six like it. In the area. I like
pick one, No point freaking out. Maybe a better one
comes next week. Just see what's there today. And I
can't understand the rest of the text. But anyways, good
chance you'll move again. So just get on with it,
says Al.
Speaker 3 (15:51):
Just get on with it is good in the auction rooms,
one thing you'll get some of that. I find it
quite sad for people because there's two people bidding to
buy a property, and they might have if it's a
they might have a young family. And if it's you
and me bidding for the property, it goes Tim's going
to move in there with his family. You hold the bid,
then I outbid you, and it goes back and forth
(16:13):
and back and forth, and ultimately I'm one person can
move in, so I win it. I go there, move
my family in, I get new neighbors, kids in a
new school. My whole life is determined a lot around
the circumstances where I live and you don't. And that's
sort of like serendipity where you end up.
Speaker 4 (16:31):
Is it good?
Speaker 2 (16:32):
Is that that ends up blending into the pressure that's
on people when they actually turn up with the serious
bit of bidding on an auction.
Speaker 3 (16:38):
Oh, Yeah, it's it's pressure, all right, because I've bought
a few properties at oction myself and it's real money
and it's your money, your house. Then it's not and
then you think how far can I go financially to
push it? However, what the safety valve is when you
if you miss out on the house, you're going to
(17:00):
find regret and remorse for twenty four hours, and then you,
you and your partner, you say, well, oh.
Speaker 2 (17:05):
I didn't have that in a house in the country.
Speaker 3 (17:07):
Here, you know. So you heal from the loss, and
then that becomes the benchmark. You keep shopping till you
find something better than that. And I'd often deal with
people later and say, oh my god, thank god I
didn't get that house because we've found a better one.
Speaker 2 (17:20):
Yeah.
Speaker 3 (17:21):
So it's all in destiny. The universe will deliver.
Speaker 2 (17:25):
So because one of the things you talked about there,
in fact, even the texture is I sometimes think that
suspect that in not just in real estate, but in life.
The worst thing is simply not to make a decision.
And that so if you want to sell your house,
you've got to make the commitment in your mind. If
you want to move, you have to make the decision
(17:45):
that that's what you're going to do, and then you're
going to act on it, because if you wallow around
and indecision, I think that's just death to anything just
about isn't it.
Speaker 3 (17:53):
Just washing around in a sea of discontent?
Speaker 1 (17:58):
Right?
Speaker 2 (17:59):
We want procrastination, We want your cause on this. How
have you managed your process when it comes to move house? Basically,
so you're in the market, you need to sell yours,
you need to buy another? How did your time it?
But have you had any dramas that you'd like to
share with us and how you overcame them? Eight hundred
and eighty ten eighty text nine two nine to two.
My guest is Martin Coopery's managing director of har Harcourts
(18:22):
Cooper and Kel will be back in just a moment
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Speaker 1 (19:35):
Tim Beveridge on the weekend collective called eight hundred eighty
ten eighty US TALKSB, Yes.
Speaker 2 (19:42):
News Talk SEB. We're talking about buying, selling and you know,
just getting your timing right eight hundred and eighty ten
eighty probably dabble around and also in the best way
to sell your house and comes to auctions and all
that other sort of stuff as well. Martin Cooper from
Hardcourt's Cooper and Co's my guest and Don.
Speaker 4 (20:01):
Hello, yeah, hello, my auction. My house is seven years ago,
themselves around them relisted. I believe in the process and
actions of a game that's sold. But do you how
do you feel about on side auctions, other advantages and
selling on site.
Speaker 3 (20:21):
Auctions A don I love an on side auction myself.
It's since COVID things have got into the rooms, you
know a lot more because we were doing them online.
And but you know, you can feel the neighborhood. You
can look down the streets you're in the home, and
(20:43):
I love we used to I used to ring the
bell and I'd ring the bell down the street and
get as many neighbors in as I could, and that
made the potential bidders don think, well, there's a lot
of interest in this house. So yeah, I would go.
I'd always want to have an on site auction myself,
unless I had parking issues or steep drive, you know,
(21:03):
some physicality about the property. Limited access. However, the in
rooms are working well now too, and we can broadcast
them out to online audience. You have a bigger crowd
there so they're both working extremely well done.
Speaker 2 (21:19):
Were you selling via auction or buying done?
Speaker 4 (21:22):
I was selling by auction, and when I sold, I
was able to get a long settlement because the house
I was buying quite a long settlement.
Speaker 2 (21:37):
So you put that as a term, Well, you put
that as a term for bidders, It's like, this is
the settlement.
Speaker 4 (21:42):
Exactly, No, you can. The settlement date was something I
was able to negotiate. Yeah.
Speaker 2 (21:52):
Actually, what I've got you on there, don so Martin,
how do you negotiate what terms are still up for negotiation?
Once you've said I'm buying house for a million bucks.
Speaker 3 (22:02):
In an auction, you'll have a contract that'll have what
chattels are in, you know everything before your bid On
the contract, the settlement date will be specified and agreed,
and there can be side agreements too. If you said, look,
i'll buy it, but I want the spar pool included
and that's not on the chattels, you can.
Speaker 2 (22:18):
How do you negotiate that once you're bet I.
Speaker 3 (22:20):
Know you want to prep that up before your bid
so you know what you're bidding for. Ah. So example,
there might be a thirty day settlement date, but I
come to you and say, hey, if I'm the successful better,
I can't settle for sixty days. Can you do a
side agreement?
Speaker 2 (22:33):
Would you say that before your bid?
Speaker 4 (22:34):
Yeah?
Speaker 3 (22:34):
Before said all up before.
Speaker 2 (22:36):
And they accept that. If your bid is accepted.
Speaker 3 (22:38):
That that's it.
Speaker 2 (22:39):
Yeah the auction okay X. By the way, did you
say seven years ago? Done?
Speaker 4 (22:45):
Seven years ago? Look? The bigger village for me was
that in the end we had three bitters. I was
fairly confident I had a premium. Even though I didn't
get quite what I wanted. I knew that that's what
a multiplicity of bidders were prepared to pay.
Speaker 2 (23:01):
Now, I's just thinking seven years because Martin said seven
years it must be time to sell it. You must
be about to go on the movie again, are you?
Speaker 4 (23:08):
Our next move might be retirement village, and I'm not
in a hurry.
Speaker 3 (23:13):
I recognize your voice. Don You're a great educator and
a well known man in the community, so I know
where you are. I know your number. I'm going to
read you.
Speaker 2 (23:22):
Mark's going to say it seven years, mate, it's.
Speaker 3 (23:25):
Time to move.
Speaker 4 (23:25):
I'll change the number.
Speaker 2 (23:28):
Good on you. Thanks for your core mate, by because
that actually the whole one of the things that we've
got at the moment, and it was I've hosted the
property show for a few years now and through a
period when it was really even though I wasn't a
participant in the market as part from one in my
own home, but it seemed to be that most of
the advice along back in the boom days was auction. Auction, auction, auction,
(23:51):
you know, get the head of the get the head
of the bidding room. You've got bidders there, they're all
competing with one another, and we're seeing some spectacular results.
Market now is different, looks like it's going to be.
It's you know, there's a bit of movement maybe, but
prices are not exactly doing much. People don't feel under pressure.
Is it changing the way people sell houses? And what's
(24:13):
your preferred method of sale? And what would it be
in this market?
Speaker 3 (24:16):
I guess, yeah, a lot of different questions there.
Speaker 2 (24:19):
Yeah, there was just not my belief.
Speaker 3 (24:21):
I'm a strong believer in auction. As a buyer, I
love buying it auction because I can face my competition
and I just have to bid one more if I
want something enough. I can see, you know, these set
sale dates or tenders putting stuff in an envelope. It's
all secret.
Speaker 2 (24:38):
I hate I mean, I hate the idea of a tender,
so feel I.
Speaker 3 (24:42):
Personally do I just like an auction. It's transparent. The
auctioneer has to nominate, it's by a stature, it's by
requirement that a vend or bid. If there's no bids
to start, the auctioneer can put it what's called a
vendor a bid a bit on behalf of the seller,
but he must nominate or she must nominate that.
Speaker 2 (25:02):
So he'll say a bid from the vendor, yeah, yeah, million.
Speaker 3 (25:05):
Yeah, And then you say that's the price we can't
sell for. Is there any high? And you sometimes you're
bidding against the vendor, you know, to get things going.
But the good thing about an auction is you can
see face your competition. You can see who you're dealing with.
That's fantastic.
Speaker 2 (25:22):
That look not to have competition, though, if you're buying,
wouldn't you.
Speaker 3 (25:27):
Well ideally from your own advantage. But on the other hand,
how reassuring is if seven other people are bidding for
that property, you know you're bidding on a hot, desirable property,
So that gives you confidence that when you come to
sell it later. If you keep it and improve it,
that you're going to have a great location, a great
desirable property.
Speaker 2 (25:45):
Either that or you've brought in a market that's going
gang buster, isn't. When the egg gets sucked out of
the market, you have paid too much, would be.
Speaker 3 (25:53):
But if you're going to stay there for seven years
or more, you're more than likely to recover. All the
people I sold property to ten years ago, I'd give
them a personal guarantee money back guarantee because they can
live in it and enjoy it. But they won't have
gone backwards.
Speaker 2 (26:10):
Maybe hang on, sorry, hang on, you gave them.
Speaker 3 (26:13):
What I could say.
Speaker 2 (26:17):
It's gonna say, I.
Speaker 3 (26:18):
Say, look what you pay for that ten years ago.
I can give you that money again. Yeah, most of
them can say, no way, I've had five percent a
cruel on average capital gains on my property, So no
I'm not. I'm taking my capital gain tax free.
Speaker 4 (26:34):
Thank you.
Speaker 2 (26:35):
Good buying now, though, say in this market, I mean
do you want to? I mean, I mean does it
matter what method of sale? You just want? You want
the house that you want, and who cares which way
it is? What is there a method of sale that
would put you off? Being interested in something.
Speaker 3 (26:49):
No, I think you just if you like the property.
Some people won't look at auctions because it's too confusing.
They don't know what the price is. So but if
you do your homework, a real buyer generally has looked
at about ten properties in the location that they want
to buy, and they know value as well as the valuers.
Speaker 2 (27:08):
See. If I was looking and I saw a house
I really liked and it said for sale by tender,
I'd be like Noah, next, I wouldn't I wouldn't even
be interested as a buyer.
Speaker 3 (27:18):
Well, I find it off putting for a lot of
buyers because you've got to put your best offering the
way to open. You don't know what's going on. For me,
it's far too much mystery. I prefer the auction process.
Is I keep talking about fine.
Speaker 2 (27:33):
Martin Cooper likes auctions. I think I'm just how I'm
writing that down, Martin.
Speaker 3 (27:39):
I've sold every property I've ever sold of my own
personal by auction. I've bought them all commercial properties or
a few apartments in my portfolio, properties that I've accumulated,
you know, just off the plans. So they don't auction
those ones off. But yeah, auction's a good way to
definitely good way to go. But the fine Thoroughbred horses
(28:01):
are auctioned off, fine antiques are auctioned off. Trade Me
are doing stuff online and so New Zealand's a far
more savvy with auctions. Before trade me as a portal,
people would get a piece of old furniture or something,
stick it on trade me and people would bid for it.
Oh this is working, not put a price on it.
See what I can get. So the New Zealand population
(28:23):
are well savvy about how to deal with auctions now.
Speaker 2 (28:25):
Actually, is the market easier when it comes to having
auctions because we've got so much data at our fingertips
now that if you want to spend a bit of
time just checking sales in that area of the sort
of house that got what is it? I mean theoretically
it should be easier for the less experience to be
more comfortable because they can learn about the market.
Speaker 3 (28:46):
Access to data now is phenomenal. So I could come
to your home just as an example, and I could
with a couple of hours of research and do a
drive around, and I can get the square meter rates
of other comparable properties have sold, how much they've sold for.
I can look online at all the photographs to get
an idea of the internal fit out. I can do
(29:09):
a detailed analysis. And then I can also look at
all the stock, if you call it stock, all the
housing that you'd be competing with. Yeah, you can do
comparisons with the radiable value, the square meters, how big
is your site is a cross lease? Put all that
together and I can come back to you with a
pretty accurate ballpark figure of where your pricing is going
(29:29):
to be. So the thing is, if you're wanting to
bid on an auction, and if you've got a good
agent representing you, they can go out and hunt and
gather the evidence. So you should be looking in the
zone or paying this for this property.
Speaker 2 (29:40):
Are you talking about a buyers agent?
Speaker 3 (29:42):
Oh well no, an agent who's trying to sell you
the property shouldn't be able to give you sufficient data
to give you confidence to bid with confidence.
Speaker 2 (29:51):
Of course, there's so much they've said, so many things
I want to dig into there. But guess what, we
have to take a break. It's twenty one minutes, twenty
minutes to five news talks. He'd be We started the
conversation talking about buying and selling in the same market,
selling by managing the moves so you don't stress yourself out.
We'd love to hear from you on that, but also
methods of sale. What's your preferred method of sale and
(30:12):
is there a method of sale that if you're buying
you go on. No, No, not interested in that property.
I don't like what the way they're trying to sell it.
Oh eight hundred and ten, eight twenty to five. Yes,
(30:35):
welcome back to the one REFRAIDI show on the weekend Collective.
That song is a little message from Martin Cooper there.
But don't worry about a thing because everything's going to
be all right. Just make a decision, make a commitment
and get on with it. And when it comes to
buying and selling, right, let's take some more calls Ash,
Hello you good? A, how are you Goodbacke Yeah, So
quite a bit of an interesting one.
Speaker 5 (30:56):
We found a property on the market, really liked it,
currently owned a house, was next even ready to sell,
but got ourselves ready, went to auction, knowing that the
agent would almost accept any pre option side agreement just
to get you there. So we put a six month
delayed settlement as a side agreement which they accepted, got
(31:19):
us there. We were the highest fitter, went out the
back because it hadn't met reserve. The first thing they
tried to do was negotiate that off, but I knew
it was a developer selling it, so it was a
vacant house, so we kept it standing. One did the deal,
So now we had six months to sell our house,
so put our house instantly on the market and pretty
(31:42):
much had ours with a settlement date after about three months.
And then just once we had a lot in settlement
date for our house, bought the other house forward to
that same date, which the developer was willingly accepting, and
ended up with a simultaneous settlement. Worked bloody well.
Speaker 2 (31:59):
Was it stressful?
Speaker 4 (32:02):
No?
Speaker 5 (32:02):
I deal a little bit with property, so I sell
property down here in christ As, will buy a house
and renovate it and generally sell at first home buyer level,
so I'm not it's not new to me. That probably
stressed my wife more than anything, but yeah, yeah.
Speaker 3 (32:21):
Yeah, great outcome. Wasn't it great outcome? Because you did
the pre auction side agreement, got your six months, a
developer took it and then they ended up winning and
you ended up winning you had time to sell and
then you can bring the settlement sooner. So yeah, good outcome,
g graduations.
Speaker 2 (32:40):
Thanks very cool mate, appreciate it. I've got a quick question.
You're talking about finding an agent who can do some
work for you and find out values and stuff, and
I cynically, I'm always aware, and I think people forget
that the agent who's selling, they're working for the seller
and not you. And so how much if you're a
buyer and you know you want to get some advice
(33:01):
from an agent, I don't know how much information you
want to give the agent because then they know what
your how much you're spending on, what your bottom line is,
and I think that's sometimes information you might want to
keep to yourself and not the agent for the seller.
Speaker 3 (33:15):
Yeah, there's always like suspicion about what you know. It's
a big ticket item, a big purchase, so you've just
got to trust people. And if you get a gut
feeling that this isn't going right for you, to just
use you into your intuition and proceed with caution. But hey,
(33:37):
the thing is, I've had agents or buyers they said no,
I bought off that agent, and I said, well, the
other agent sold you that property, and I said, well,
how come you didn't go back to them? How come
you came to me? And they said, oh, I didn't
mind buying off that agent, you know, because they were
(33:58):
hustling to get it cheap for me. But I don't
want I don't want to sell my property through that
agent because I didn't feel was working for the seller.
So it is interesting. So what you need to look
at in our business the vendor, the seller is paying
the fee, so our job is to try and get
the best price for the seller. But on the other hand,
(34:22):
we don't want to be too clever that we're pushing
the buyers up so high they don't come.
Speaker 2 (34:26):
So do you take a more holistic thing? You want
everyone to be happy and then we're all winners sort
of things. Well, ultimately, for long.
Speaker 3 (34:32):
Time in a tough market, I don't mind if the
if the seller is hurting a little bit, it's slightly
belower but below their expectation. But if the buyer is
hurting a bit and I've pushed them up and influenced
them up, even sometimes the fee in the middle is
part of the negotiation, a three way transaction.
Speaker 2 (34:52):
Just a quick question on tenders. Somebody says Heiman, well,
it's should be high Martin. If two unconditional tenders are
within say, ten thousand of each other, with the agent
negotiap with the two to see how far they'll go wards.
Is the offer of the tender that the beginning end or.
Speaker 3 (35:08):
The normal protocol there? The agent would say, you're the vendor,
say Tim, look, we've got two offers very close. The
recommendation would be to go back to both parties and say, hey,
good news is you're you're still in contention here. The
other offer is very close to yours. We want to
(35:29):
give you one last shot at it. Give it your
best shot. Have you got any more in you to
own it? And you'd probably you would in a close
call like that. You go back to both parties and
give them another shot to increase.
Speaker 2 (35:40):
Yeah, okay, let's take another call Andrew high.
Speaker 6 (35:44):
Yeah, Hi, just a voice the button. In terms of
selling them buying right now, is it better to build
because I noticed the build prices have come down a lot,
and the cost of buildings come down a lot, and
to build and cell.
Speaker 2 (36:06):
Okay, so build something or by existing stock.
Speaker 3 (36:10):
Yeah, I'll tell you what the trouble is the delay
of building. I mean, certainly construction industry is looking for
work at the moment, so the price to build is
clearly less than it was in the boom up in
twenty twenty two. So you can get lower construction costs,
but you've still got to be living somewhere while you
(36:32):
go through a six month build. So and also depends
where you're building. I've got friends looking at Queenstown. Still
cheaper to buy a secondhand home in Queenstown is to
try and find a builder and build something there. Auckland
there's some great build companies that can you find the
piece of land and they can build the product for you.
So you can do your homework on that. Because the
(36:55):
second hand housing market is affordable at the moment. We've
seen it reduction in the value of properties and there's
a lot of properties on the market, so you've got
a good choice.
Speaker 2 (37:04):
Hey, god Only, thanks for your call, Andrew. We'll be
back in just a moment. It is ten minutes to
five News Talks.
Speaker 1 (37:09):
He'd be the one roofed property of the week on
the Weekend Collective.
Speaker 4 (37:16):
Now.
Speaker 2 (37:16):
I asked my producer Tire when she chooses property, and
I said, what did you like about this one? Jesseddyf
Curisa and she says, I love the FARMI vibe. It's
a six retreat road, Haruru in the far North. Three bedrooms,
two bathrooms, two car garage, garage garage. The house is,
you know, decent size, two hundred and eighteen square meters
land of four thousand square meters. It's got an RV
(37:39):
of the estimates basically same as the r V one
point one nine million. So it's a single level home,
mezzanine comprising two wings connected by welcoming entrants and the
options apparently endless, as it says, I'm going to get
Martin your take on this, Martin, how would you describe
the house and how would you sprink it up? Martin
cooper wise, Oh, well.
Speaker 3 (37:59):
I like it. It's modern, it's new built. It's only
built in two eighteen, fully insulated, double glazed, even though
you don't need too much of that up in the
winterless north. But the other thing is you could do
home business there, art studio, you could have multi generational
living there. Get your I might get Don to come
and move in there, and he's instead of a retirement home,
(38:23):
move up there, and it's such a great location up there.
Speaker 2 (38:26):
You know, it does have a great sort of shared
slash garage with the work bench and everything. I think
i'd be wanting to make sure that they left the
work bench in there. That would be something you want
to haggle, wouldn't it.
Speaker 3 (38:36):
It would be. But looking at p har and Bay
of Islands up there, real peaceful lifestyle, good community up there,
the scenic beauty and pricing. If you're selling up out
of Auckland, getting up there, there's still a good price gap.
Put a bit of money in the bank, maybe a
bit of will travel or you know, just live your
(38:56):
best life. Good school if you've got younger family, great
schooling up there too. That Kerry Carey School's got a
great reputation.
Speaker 2 (39:03):
So move north North Martin. I can see where you're
a successful real estate agent. I was almost thinking maybe
I'll have a look at the budget myself. Ah, not really,
that's a bit of a commute.
Speaker 4 (39:14):
Hey.
Speaker 2 (39:15):
If you do want to go and check it out,
go and look at six. You can look at it
on the one roof site. That's one roof dot co
dot NZID six Retreat Road, Hooru roof Far North so
Go and check that out. One point one nine million.
I guess it's actually it's by auction. Oh that's interesting.
Speaker 3 (39:31):
Oh my god. You're given the price away. Maybe that's price.
Speaker 2 (39:35):
It says estimate here, this is through, then there's the
IRV and then one roof does a does an estimate.
AI is getting pretty clever these days that I'm working
a lot of this stuff out.
Speaker 3 (39:45):
Oh, isn't it? I don't I can't make a decision
by myself.
Speaker 2 (39:49):
Actually, I'm fascinated with just how the location location you
can look at a house. It's maybe, for instance, where
we live, we're a couple hundred meters from the beach,
and if I just look at a similar house there
would be quite a different value, even if it was
just another kilometer and a half away. But it's amazing
how location can be so such a powerful sort of
(40:10):
tool and getting a good price for your house.
Speaker 3 (40:12):
Isn't it Absolutely phenomenal. That's probably why we're never going
to get done out of a job as real estate agents,
because every home and New Zealand is unique and there's
two million of them.
Speaker 2 (40:23):
Yeah. Hey, great to have you. I hope we'll get
you back again soon. Martin Dunn. You can go and
look up Harkwats, Cooper and cur if you want to
have a chat with Martin about anything and if you
want to hear any of the advice and the chat
we had great, great out of discussion. It'll be online
very shortly, go to the News Talk's EDB website. But
the parents quite as next with Nathan Wallace, this is
News Talks ed B back in the.
Speaker 3 (40:44):
Moment, something Mamie be in the middle, not any need
it is a.
Speaker 1 (40:53):
Little for more from the Weekend Collective. Listen live to
News Talk zed B weekends from three pm, or follow
the podcast on iHeartRadio.
You're listening to the Weekend Collective podcast from News Talks
ed be brother.
Speaker 2 (00:11):
You don't have to put in your brother.
Speaker 3 (00:17):
Oh we got each other. And if you've got some word,
then you still got.
Speaker 1 (00:24):
The chain.
Speaker 2 (00:26):
You start from where you came.
Speaker 3 (00:33):
Brother.
Speaker 1 (00:34):
You don't have to.
Speaker 2 (00:36):
Lie. Oh I won't pretend that I know half the
hell you see. That don't mean it's something that you're
destined to repeat a stronger than anything. Guys, welcome back
to the Weekend Collective or welcome in. If you've just
joined us, missing any of the previous hours, then you're
(00:58):
always catch up with it. You know where? All right,
this is the one Roof radio show. We want your
calls on O eight one hundred and eighty ten eighty.
You can also take on nine to nine to two. Now,
a couple of things. We're going to dig into one
of them if we've got time. We'll dig into what
the current best method of sailors because every market has
possibly preferred methods of selling and advertising. And do you
(01:19):
go for auction or you know, private treaty? Do you
name your price price by negotiation tender? Which I always loathe,
but there are people who say tenders great or sell
my house by tender. I think probably if you're a
bit flash or it's something a bit different about the property,
but we'n dig into that. But before that, it's so
easy if you're not involved in the transaction of property
to think, oh, well, you know, if we were to
(01:40):
sell our place and we want to move somewhere else,
we just sell and you know, hopefully we just put
a condition in the contract to make sure that we
could buy something and not get caught out. But I
think once you're in the in the throes of looking
for a new place and you've sold to buy, or
you have already bought something and you need to sell,
there is a stress because, let's face it, property is
(02:03):
not It's not like buying a latte. You know, I
have a couple of lattes and then you go, you pay,
or any sort of trivial transaction, even a car, which
is a bit more pricey. Property's a big deal. And
so the stress of timing things perfectly, I imagine, is not
something to be taken for granted. So you know, are
you going to be selling your house before you're off
if for the next run is accepted, but you don't
(02:24):
want to sell too soon, You're risk having to move
out before you've closed on the next house. Do you
need to find somewhere your else to live in the interim?
What do you do with all your furniture? So how
do you go about buying and selling in the same
market without putting yourself under as unnecessary pressure or stress? Anyway,
Martin Cooper's he's the managing director of Oh I can
(02:45):
never get this aari in z at Harcourts Cooper and Co.
And he's just made it here because so you've got
tangled up in some protest. So Martin, how are you going?
Nice to see you.
Speaker 3 (02:57):
He great to see you. Too good to be here
get through the protests. A few streets blocked off in
Auckland today. Yeah.
Speaker 2 (03:04):
I actually was just lucky with that because I went
a different way to work and as I did, I
saw I'd skirted around. I thought, oh, thank goodness, thank godness,
I didn't go the usual way because it would have
been that would have been trouble. What have been up
to anyway? How are you doing well?
Speaker 3 (03:15):
I've just come from this morning. One of my grandsons
had his third birthday party and Spider Man arrived to
entertain the kids. And there were ten grand kids there.
The whole tribe were there. So coming into your peaceful,
quiet studio is relaxing compared to oh, well you like kids.
Speaker 2 (03:34):
So when you had to leave, you're like, hey, listen,
I'm really sorry family, I've got to go, and I've
got this beverage. He's such a pain. I've got to
go do this property show. I'll really miss you. And then.
Speaker 3 (03:46):
Pace and quiet, but oh so joyful those kids and
full of sugar, you know, the kids parties and what
was this? Spider Man came in and entertained.
Speaker 2 (03:55):
Was it a convincing Spider Man? Like it wasn't he
quite well presented as Spider Man? Or was it good?
Speaker 3 (04:01):
And he brought a mate with him, a Captain America,
and two great young fellas. I spoke to my son
there and he said, I wonder how hung over those
boys are, but they performed very well.
Speaker 2 (04:14):
I think he might have been, Ah, well, you know,
that's the part of the Marvel franchise you don't get
to see, is it. Anyway? Hey, now you well have
hopefully heard my introduction there, and I haven't had to
sell and buy buying, you know, yet, because someone in
the first home. You know, we went from renting. In fact,
I bought the home we were renting, so we didn't
have to go anywhere.
Speaker 3 (04:34):
You kept it simple, didn't you.
Speaker 2 (04:36):
It was incredibly simple, and I actually am aware of
how lucky I am that that first transaction was. But
you know, people say, oh, you know, you just know
we're selling and we're moving. But there's a hell of
a lot involved, isn't there.
Speaker 4 (04:50):
Yeah.
Speaker 3 (04:50):
Well, years ago, the Reader's digested a survey on stress
that I wish I kept the article because I've always
referred to it. But they said, ask people what's the
most stressful thing in their life, And the three things
that came up was death of a close relative, which
is obvious, a separation, which is another stress of thing
(05:11):
in your life. And the third thing, third rated thing
in people's lives was moving.
Speaker 2 (05:16):
Moving, So it's not even not necessarily the purchase, but
the actual moving side.
Speaker 3 (05:19):
Just the whole uprooting your homes, your castle, like in
our lockdown, remember the lockdown, that was our place of safety,
and we get familiar with it. We have our outside
life and our home life, so disrupting that and if
you're anything like where we live collecting antiques and art work,
and I just the thought of shifting to me is
(05:42):
the messive workload of packing everything up.
Speaker 2 (05:45):
And does that mean you're never going to look at
you're never going to move?
Speaker 3 (05:48):
Well, I've got to support the real estate industry. We
expect New Zealanders to move at least every seven years.
Speaker 2 (05:54):
Actually, actually is there a stat around that, because seven
year thing triggers something in my mind.
Speaker 3 (06:01):
That's the seven year cycle, you know, that's how long
how often we might expect to interact with your average person. Yeah,
seven years, but there are people, there'll be people listening today.
Oh well I've been here for forty two years. You'll
send us broke for staying there that long. But if
you're happy in your home, live in it and love it.
But we're here to help if you need to shift.
(06:22):
And seven years it does. And there's people that get
their first little apartment to start at home. Then they
have a family, you know, they need to get a
bit more room and so, but it's not your everyday
thing moving.
Speaker 2 (06:34):
What are the what are the things you need to
ensure you get right? Because obviously that you know that
when we all remember a time when the property market
was absolutely you know, Gangbusters and the pressure of making
the decision and buying and selling and not getting caught out.
I mean, when a market's really on the move, that's
when it's a bit tricky, isn't it, Or is it
(06:55):
always tricky, or is it not tricky at all because
you work with the right people and you get good
advice and easy peasy.
Speaker 3 (07:02):
Any different number of configurations. But the thing is, if
you want to make a move, you've decided your home
is not fit for purpose anymore, not suitable for your needs.
So obviously you've already bought a home, like you're in
your first one, but you're deciding, right, we want to
do something else. We're going to upgrade or downsize, whatever
(07:22):
the circumstance it is. It is very worthwhile to have
a strategic plan and to get an advisor in it,
like get an agent you like and trusting to help
you because we're doing these transactions every day. I'll be
in the auction rooms last Thursday and we did it
was good about sixty percent clearance rate under the hammer
of auction. So we can get a bit blase as
(07:44):
agents about moving. Sometimes it's good as an agent to
do some moving yourself or sell your own thing, because
you become in the customer's shoes, you know. But get
someone you like and trust to help you and get advice,
and that would be getting your home set up for sale.
There's so much clients now with Have you got your
(08:08):
LIMB report? Is that all sorted out? All the council files?
Is everything right? You're near a floodplane? Have you got
any notifications of any change of roadworks or anything? So
go through everything in your property to make sure there's
minimal obstructions for people and they can come in look
at your home and make a decision to purchase. So
(08:30):
check out your property is match foot to go to market,
and then it is helping to get it beautifully presented
because you're in competition. The buyers are going to get.
Speaker 2 (08:39):
Your house ready for sale before you go and buy
anything else. Absolutely, so you always think your head on
that one.
Speaker 3 (08:47):
Yeah, yeah, I think yourhead. It's a bit a bit
like if you're going to take your car into a
car dealer to get an appraisal because you want to
upgrade your car. Most people think I'll give it a
little bit of a cleanup and put it through the washer.
You know, to have it looking well presented. So you
get your home as well present and well prepared, match
fit to be ready to play in the in the market.
(09:11):
And then once you've got that prepped up, you want
to get out shopping yourself. Get out look at a
number of properties and get a feel for the market
and look at right your sort of checklist of what
we want. We want a fourth bedroom if that's the case,
we want a home office. We want a larger section
and more level section, more garaging you get when we
want to pull whatever it is. Get all your criteria
(09:32):
and you can go into the property portals now and
it's quite helpful. You can put in your criteria, aent
can coach how to do this and then it'll just
feed you all the listings so you can start studying
the market before you're ready to go and participate. Do
your homework.
Speaker 2 (09:46):
So would you stick your house on the market, would you,
I mean this market for instance, away we're in a
market that's not you know, it's not moving as quickly
as we've seen in the past. Would you actually get
you know, start having the open homes and you know,
and be prepared for an offer before you're ready to
buy something myself.
Speaker 3 (10:06):
Well I would if I'm going to make a move.
You see, I can control as the seller the settlement date.
I can. I can put one hundred and twenty day
settlement date on my property if I want to. If
you want to buy my property, I say yes, it's available.
I haven't found something yet. You can buy it, but
I need three to four months to go find something else.
So I can control that.
Speaker 2 (10:25):
But in this market, somebody might be like, well, actually
we need something the next six weeks more interested in
your place, and the buyer has some say in that,
don't they.
Speaker 3 (10:32):
Well, if the price was right, if I came to
you and said, yeah, I want good house, there's a.
Speaker 2 (10:37):
Look you just got in your eye there, and I
saw Martin Cooper just switch into means it's good.
Speaker 3 (10:43):
Well, last time we spoke was about your raidable values,
and we were working out how to get that up
a bit so we could get you on the market
and upgrade you.
Speaker 2 (10:51):
No, my rate of value is fine because I'm rated
at more than the other my neighbors.
Speaker 3 (10:55):
You're in a good position. You were on this market ready,
so I.
Speaker 2 (11:00):
Get the feeling I'm going to be on the market
before the end of the.
Speaker 3 (11:03):
Back to that point, though, if you decided to go
on the market, you hadn't found something. If I found
you a buyer and that buyer was fifty or sixty
grand above what you hope to get, just as an example,
and they said, but we want to move in in
thirty days, you and your decision makers at home, you
(11:23):
might say, well, hey, we love the price. Excited about that?
Who cares? Why don't we just pack up? We can
put our stuff in storage. Rent and yeah, just rent
for a while, get a camp a van, have a break,
hire a b abnb for three months, or whatever it
may be. And because you've got a premium price, and
(11:44):
then your advantages, you go out shopping. And if you
imagine you're selling your house and I'm the agent and
I say, great news, Tim, I've got two offer, two buyers.
I got one that wants to seller's house, and I've
got this person's already sold and they're cashed up. He's
five grand less or ten grand less. But that's one
hundred percent certain. It's an unconditional deal. Or you can
(12:06):
wait and hope, what do you want? Yeah? You see,
so you get a commercial advantage if you cashed up.
Speaker 2 (12:13):
I was like, it's the expression a cash offer still
a real it's something that is in my head. That's
an inaccurate thing. But do is that as an expression
that's a cash offer? Because I always imagine a cash
someone turning up with a suitcase and going, what do
you think of this?
Speaker 1 (12:28):
Then?
Speaker 3 (12:29):
Yeah, I look one time on band camp I.
Speaker 2 (12:33):
Remember, I literally was about to say.
Speaker 3 (12:38):
One time, I remember guy came in paying a deposit.
It was only forty grand, but so, and it was
in two brown paper bags like you know the ones
you buy. You buy the dollar bags countdown at wherever
it is.
Speaker 2 (12:53):
Could have had some Kiwi Fried in it or something.
Speaker 3 (12:55):
Yeah.
Speaker 1 (12:56):
Yeah.
Speaker 3 (12:56):
And so my administrator came and said, oh mad, And
the deposits come in on whatever the street was, and
I said, oh great, good news. That's good news for
Friday afternoon. Says I know, but it's in cash.
Speaker 2 (13:08):
Shall just get you to drag your mic a bit closer,
stay relaxed.
Speaker 3 (13:14):
So there's cash here and the banks are closed. What
am I going to do? So I said, well, I'll
better look after the money. So I all week And
this would be about twenty years ago, when forty grand
and cash was seen like more money than today's dollars.
So I had to take the forty grand in cash.
One hundred dollar bills was hundred dollar bills. So I
had poker nights and stack the cash. No, I didn't quite.
(13:39):
I treated the money with the respect because it wasn't mine.
But it was a funny thing, just your feeling. Thank god,
it forty grand of cash looked big wads of one
hundred dollar bills. Now, of course we've got what we
call it the a.
Speaker 2 (13:54):
You don't even have checks these days, even.
Speaker 3 (13:55):
Though it's all electronic. But if someone comes in with cash,
now we've got a report it in Andy money laundering,
et cetera.
Speaker 2 (14:01):
So do you actually look back at that and go
wonder where that cash came from? Or was it just
a business where there's some cash?
Speaker 4 (14:07):
You know?
Speaker 3 (14:07):
Yeah, well cash was a bit more prevalent twenty years ago,
But yes I did wonder, you know, and that you'd
have people say it's drug money. What's going on? There's
always suspicion, but we weren't required to have ask any
questions or nowadays cash.
Speaker 2 (14:24):
What summer money would you have to Actually, I mean,
we're getting off the beaten track, but it is quite
interesting from memory.
Speaker 3 (14:30):
It's ten thousand dollars is sort of a trigger point.
But everything's done online electronic transfers now, and that's also
Remember when you first had a job or you were
of an age, you remember you got paid in cash? No,
I've always are you such a young man?
Speaker 2 (14:50):
Oh no, actually no, I do remember. Actually I had
a job as a tourist guide at Rainbow Springs, and
I'm pretty sure that the money we got was in cash.
I think we got a little envelope, your little brown,
little brown envelope, some money in it, and you'd open
it up and.
Speaker 3 (15:06):
Go, that's a win.
Speaker 2 (15:09):
Help good would love your cause on this, Not about
the cash and all that sort of thing. Ah, but
what has your experience being and how did you manage
the process, Because you can have a plan. But sometimes
people sometimes fall in love with the house and they think,
you know, before they know it, they've made an offer
on their place and they've got to get there's ready
for sale, somebody who's actually said Martin, just before we
go to the break, I think you like many overthink it.
(15:34):
I'm selling my place. Once sold, I'll open trade me.
I find six like it. In the area. I like
pick one, No point freaking out. Maybe a better one
comes next week. Just see what's there today. And I
can't understand the rest of the text. But anyways, good
chance you'll move again. So just get on with it,
says Al.
Speaker 3 (15:51):
Just get on with it is good in the auction rooms,
one thing you'll get some of that. I find it
quite sad for people because there's two people bidding to
buy a property, and they might have if it's a
they might have a young family. And if it's you
and me bidding for the property, it goes Tim's going
to move in there with his family. You hold the bid,
then I outbid you, and it goes back and forth
(16:13):
and back and forth, and ultimately I'm one person can
move in, so I win it. I go there, move
my family in, I get new neighbors, kids in a
new school. My whole life is determined a lot around
the circumstances where I live and you don't. And that's
sort of like serendipity where you end up.
Speaker 4 (16:31):
Is it good?
Speaker 2 (16:32):
Is that that ends up blending into the pressure that's
on people when they actually turn up with the serious
bit of bidding on an auction.
Speaker 3 (16:38):
Oh, Yeah, it's it's pressure, all right, because I've bought
a few properties at oction myself and it's real money
and it's your money, your house. Then it's not and
then you think how far can I go financially to
push it? However, what the safety valve is when you
if you miss out on the house, you're going to
(17:00):
find regret and remorse for twenty four hours, and then you,
you and your partner, you say, well, oh.
Speaker 2 (17:05):
I didn't have that in a house in the country.
Speaker 3 (17:07):
Here, you know. So you heal from the loss, and
then that becomes the benchmark. You keep shopping till you
find something better than that. And I'd often deal with
people later and say, oh my god, thank god I
didn't get that house because we've found a better one.
Speaker 2 (17:20):
Yeah.
Speaker 3 (17:21):
So it's all in destiny. The universe will deliver.
Speaker 2 (17:25):
So because one of the things you talked about there,
in fact, even the texture is I sometimes think that
suspect that in not just in real estate, but in life.
The worst thing is simply not to make a decision.
And that so if you want to sell your house,
you've got to make the commitment in your mind. If
you want to move, you have to make the decision
(17:45):
that that's what you're going to do, and then you're
going to act on it, because if you wallow around
and indecision, I think that's just death to anything just
about isn't it.
Speaker 3 (17:53):
Just washing around in a sea of discontent?
Speaker 1 (17:58):
Right?
Speaker 2 (17:59):
We want procrastination, We want your cause on this. How
have you managed your process when it comes to move house? Basically,
so you're in the market, you need to sell yours,
you need to buy another? How did your time it?
But have you had any dramas that you'd like to
share with us and how you overcame them? Eight hundred
and eighty ten eighty text nine two nine to two.
My guest is Martin Coopery's managing director of har Harcourts
(18:22):
Cooper and Kel will be back in just a moment
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Speaker 1 (19:35):
Tim Beveridge on the weekend collective called eight hundred eighty
ten eighty US TALKSB, Yes.
Speaker 2 (19:42):
News Talk SEB. We're talking about buying, selling and you know,
just getting your timing right eight hundred and eighty ten
eighty probably dabble around and also in the best way
to sell your house and comes to auctions and all
that other sort of stuff as well. Martin Cooper from
Hardcourt's Cooper and Co's my guest and Don.
Speaker 4 (20:01):
Hello, yeah, hello, my auction. My house is seven years ago,
themselves around them relisted. I believe in the process and
actions of a game that's sold. But do you how
do you feel about on side auctions, other advantages and
selling on site.
Speaker 3 (20:21):
Auctions A don I love an on side auction myself.
It's since COVID things have got into the rooms, you
know a lot more because we were doing them online.
And but you know, you can feel the neighborhood. You
can look down the streets you're in the home, and
(20:43):
I love we used to I used to ring the
bell and I'd ring the bell down the street and
get as many neighbors in as I could, and that
made the potential bidders don think, well, there's a lot
of interest in this house. So yeah, I would go.
I'd always want to have an on site auction myself,
unless I had parking issues or steep drive, you know,
(21:03):
some physicality about the property. Limited access. However, the in
rooms are working well now too, and we can broadcast
them out to online audience. You have a bigger crowd
there so they're both working extremely well done.
Speaker 2 (21:19):
Were you selling via auction or buying done?
Speaker 4 (21:22):
I was selling by auction, and when I sold, I
was able to get a long settlement because the house
I was buying quite a long settlement.
Speaker 2 (21:37):
So you put that as a term, Well, you put
that as a term for bidders, It's like, this is
the settlement.
Speaker 4 (21:42):
Exactly, No, you can. The settlement date was something I
was able to negotiate. Yeah.
Speaker 2 (21:52):
Actually, what I've got you on there, don so Martin,
how do you negotiate what terms are still up for negotiation?
Once you've said I'm buying house for a million bucks.
Speaker 3 (22:02):
In an auction, you'll have a contract that'll have what
chattels are in, you know everything before your bid On
the contract, the settlement date will be specified and agreed,
and there can be side agreements too. If you said, look,
i'll buy it, but I want the spar pool included
and that's not on the chattels, you can.
Speaker 2 (22:18):
How do you negotiate that once you're bet I.
Speaker 3 (22:20):
Know you want to prep that up before your bid
so you know what you're bidding for. Ah. So example,
there might be a thirty day settlement date, but I
come to you and say, hey, if I'm the successful better,
I can't settle for sixty days. Can you do a
side agreement?
Speaker 2 (22:33):
Would you say that before your bid?
Speaker 4 (22:34):
Yeah?
Speaker 3 (22:34):
Before said all up before.
Speaker 2 (22:36):
And they accept that. If your bid is accepted.
Speaker 3 (22:38):
That that's it.
Speaker 2 (22:39):
Yeah the auction okay X. By the way, did you
say seven years ago? Done?
Speaker 4 (22:45):
Seven years ago? Look? The bigger village for me was
that in the end we had three bitters. I was
fairly confident I had a premium. Even though I didn't
get quite what I wanted. I knew that that's what
a multiplicity of bidders were prepared to pay.
Speaker 2 (23:01):
Now, I's just thinking seven years because Martin said seven
years it must be time to sell it. You must
be about to go on the movie again, are you?
Speaker 4 (23:08):
Our next move might be retirement village, and I'm not
in a hurry.
Speaker 3 (23:13):
I recognize your voice. Don You're a great educator and
a well known man in the community, so I know
where you are. I know your number. I'm going to
read you.
Speaker 2 (23:22):
Mark's going to say it seven years, mate, it's.
Speaker 3 (23:25):
Time to move.
Speaker 4 (23:25):
I'll change the number.
Speaker 2 (23:28):
Good on you. Thanks for your core mate, by because
that actually the whole one of the things that we've
got at the moment, and it was I've hosted the
property show for a few years now and through a
period when it was really even though I wasn't a
participant in the market as part from one in my
own home, but it seemed to be that most of
the advice along back in the boom days was auction. Auction, auction, auction,
(23:51):
you know, get the head of the get the head
of the bidding room. You've got bidders there, they're all
competing with one another, and we're seeing some spectacular results.
Market now is different, looks like it's going to be.
It's you know, there's a bit of movement maybe, but
prices are not exactly doing much. People don't feel under pressure.
Is it changing the way people sell houses? And what's
(24:13):
your preferred method of sale? And what would it be
in this market?
Speaker 3 (24:16):
I guess, yeah, a lot of different questions there.
Speaker 2 (24:19):
Yeah, there was just not my belief.
Speaker 3 (24:21):
I'm a strong believer in auction. As a buyer, I
love buying it auction because I can face my competition
and I just have to bid one more if I
want something enough. I can see, you know, these set
sale dates or tenders putting stuff in an envelope. It's
all secret.
Speaker 2 (24:38):
I hate I mean, I hate the idea of a tender,
so feel I.
Speaker 3 (24:42):
Personally do I just like an auction. It's transparent. The
auctioneer has to nominate, it's by a stature, it's by
requirement that a vend or bid. If there's no bids
to start, the auctioneer can put it what's called a
vendor a bid a bit on behalf of the seller,
but he must nominate or she must nominate that.
Speaker 2 (25:02):
So he'll say a bid from the vendor, yeah, yeah, million.
Speaker 3 (25:05):
Yeah, And then you say that's the price we can't
sell for. Is there any high? And you sometimes you're
bidding against the vendor, you know, to get things going.
But the good thing about an auction is you can
see face your competition. You can see who you're dealing with.
That's fantastic.
Speaker 2 (25:22):
That look not to have competition, though, if you're buying,
wouldn't you.
Speaker 3 (25:27):
Well ideally from your own advantage. But on the other hand,
how reassuring is if seven other people are bidding for
that property, you know you're bidding on a hot, desirable property,
So that gives you confidence that when you come to
sell it later. If you keep it and improve it,
that you're going to have a great location, a great
desirable property.
Speaker 2 (25:45):
Either that or you've brought in a market that's going
gang buster, isn't. When the egg gets sucked out of
the market, you have paid too much, would be.
Speaker 3 (25:53):
But if you're going to stay there for seven years
or more, you're more than likely to recover. All the
people I sold property to ten years ago, I'd give
them a personal guarantee money back guarantee because they can
live in it and enjoy it. But they won't have
gone backwards.
Speaker 2 (26:10):
Maybe hang on, sorry, hang on, you gave them.
Speaker 3 (26:13):
What I could say.
Speaker 2 (26:17):
It's gonna say, I.
Speaker 3 (26:18):
Say, look what you pay for that ten years ago.
I can give you that money again. Yeah, most of
them can say, no way, I've had five percent a
cruel on average capital gains on my property, So no
I'm not. I'm taking my capital gain tax free.
Speaker 4 (26:34):
Thank you.
Speaker 2 (26:35):
Good buying now, though, say in this market, I mean
do you want to? I mean, I mean does it
matter what method of sale? You just want? You want
the house that you want, and who cares which way
it is? What is there a method of sale that
would put you off? Being interested in something.
Speaker 3 (26:49):
No, I think you just if you like the property.
Some people won't look at auctions because it's too confusing.
They don't know what the price is. So but if
you do your homework, a real buyer generally has looked
at about ten properties in the location that they want
to buy, and they know value as well as the valuers.
Speaker 2 (27:08):
See. If I was looking and I saw a house
I really liked and it said for sale by tender,
I'd be like Noah, next, I wouldn't I wouldn't even
be interested as a buyer.
Speaker 3 (27:18):
Well, I find it off putting for a lot of
buyers because you've got to put your best offering the
way to open. You don't know what's going on. For me,
it's far too much mystery. I prefer the auction process.
Is I keep talking about fine.
Speaker 2 (27:33):
Martin Cooper likes auctions. I think I'm just how I'm
writing that down, Martin.
Speaker 3 (27:39):
I've sold every property I've ever sold of my own
personal by auction. I've bought them all commercial properties or
a few apartments in my portfolio, properties that I've accumulated,
you know, just off the plans. So they don't auction
those ones off. But yeah, auction's a good way to
definitely good way to go. But the fine Thoroughbred horses
(28:01):
are auctioned off, fine antiques are auctioned off. Trade Me
are doing stuff online and so New Zealand's a far
more savvy with auctions. Before trade me as a portal,
people would get a piece of old furniture or something,
stick it on trade me and people would bid for it.
Oh this is working, not put a price on it.
See what I can get. So the New Zealand population
(28:23):
are well savvy about how to deal with auctions now.
Speaker 2 (28:25):
Actually, is the market easier when it comes to having
auctions because we've got so much data at our fingertips
now that if you want to spend a bit of
time just checking sales in that area of the sort
of house that got what is it? I mean theoretically
it should be easier for the less experience to be
more comfortable because they can learn about the market.
Speaker 3 (28:46):
Access to data now is phenomenal. So I could come
to your home just as an example, and I could
with a couple of hours of research and do a
drive around, and I can get the square meter rates
of other comparable properties have sold, how much they've sold for.
I can look online at all the photographs to get
an idea of the internal fit out. I can do
(29:09):
a detailed analysis. And then I can also look at
all the stock, if you call it stock, all the
housing that you'd be competing with. Yeah, you can do
comparisons with the radiable value, the square meters, how big
is your site is a cross lease? Put all that
together and I can come back to you with a
pretty accurate ballpark figure of where your pricing is going
(29:29):
to be. So the thing is, if you're wanting to
bid on an auction, and if you've got a good
agent representing you, they can go out and hunt and
gather the evidence. So you should be looking in the
zone or paying this for this property.
Speaker 2 (29:40):
Are you talking about a buyers agent?
Speaker 3 (29:42):
Oh well no, an agent who's trying to sell you
the property shouldn't be able to give you sufficient data
to give you confidence to bid with confidence.
Speaker 2 (29:51):
Of course, there's so much they've said, so many things
I want to dig into there. But guess what, we
have to take a break. It's twenty one minutes, twenty
minutes to five news talks. He'd be We started the
conversation talking about buying and selling in the same market,
selling by managing the moves so you don't stress yourself out.
We'd love to hear from you on that, but also
methods of sale. What's your preferred method of sale and
(30:12):
is there a method of sale that if you're buying
you go on. No, No, not interested in that property.
I don't like what the way they're trying to sell it.
Oh eight hundred and ten, eight twenty to five. Yes,
(30:35):
welcome back to the one REFRAIDI show on the weekend Collective.
That song is a little message from Martin Cooper there.
But don't worry about a thing because everything's going to
be all right. Just make a decision, make a commitment
and get on with it. And when it comes to
buying and selling, right, let's take some more calls Ash,
Hello you good? A, how are you Goodbacke Yeah, So
quite a bit of an interesting one.
Speaker 5 (30:56):
We found a property on the market, really liked it,
currently owned a house, was next even ready to sell,
but got ourselves ready, went to auction, knowing that the
agent would almost accept any pre option side agreement just
to get you there. So we put a six month
delayed settlement as a side agreement which they accepted, got
(31:19):
us there. We were the highest fitter, went out the
back because it hadn't met reserve. The first thing they
tried to do was negotiate that off, but I knew
it was a developer selling it, so it was a
vacant house, so we kept it standing. One did the deal,
So now we had six months to sell our house,
so put our house instantly on the market and pretty
(31:42):
much had ours with a settlement date after about three months.
And then just once we had a lot in settlement
date for our house, bought the other house forward to
that same date, which the developer was willingly accepting, and
ended up with a simultaneous settlement. Worked bloody well.
Speaker 2 (31:59):
Was it stressful?
Speaker 4 (32:02):
No?
Speaker 5 (32:02):
I deal a little bit with property, so I sell
property down here in christ As, will buy a house
and renovate it and generally sell at first home buyer level,
so I'm not it's not new to me. That probably
stressed my wife more than anything, but yeah, yeah.
Speaker 3 (32:21):
Yeah, great outcome. Wasn't it great outcome? Because you did
the pre auction side agreement, got your six months, a
developer took it and then they ended up winning and
you ended up winning you had time to sell and
then you can bring the settlement sooner. So yeah, good outcome,
g graduations.
Speaker 2 (32:40):
Thanks very cool mate, appreciate it. I've got a quick question.
You're talking about finding an agent who can do some
work for you and find out values and stuff, and
I cynically, I'm always aware, and I think people forget
that the agent who's selling, they're working for the seller
and not you. And so how much if you're a
buyer and you know you want to get some advice
(33:01):
from an agent, I don't know how much information you
want to give the agent because then they know what
your how much you're spending on, what your bottom line is,
and I think that's sometimes information you might want to
keep to yourself and not the agent for the seller.
Speaker 3 (33:15):
Yeah, there's always like suspicion about what you know. It's
a big ticket item, a big purchase, so you've just
got to trust people. And if you get a gut
feeling that this isn't going right for you, to just
use you into your intuition and proceed with caution. But hey,
(33:37):
the thing is, I've had agents or buyers they said no,
I bought off that agent, and I said, well, the
other agent sold you that property, and I said, well,
how come you didn't go back to them? How come
you came to me? And they said, oh, I didn't
mind buying off that agent, you know, because they were
(33:58):
hustling to get it cheap for me. But I don't
want I don't want to sell my property through that
agent because I didn't feel was working for the seller.
So it is interesting. So what you need to look
at in our business the vendor, the seller is paying
the fee, so our job is to try and get
the best price for the seller. But on the other hand,
(34:22):
we don't want to be too clever that we're pushing
the buyers up so high they don't come.
Speaker 2 (34:26):
So do you take a more holistic thing? You want
everyone to be happy and then we're all winners sort
of things. Well, ultimately, for long.
Speaker 3 (34:32):
Time in a tough market, I don't mind if the
if the seller is hurting a little bit, it's slightly
belower but below their expectation. But if the buyer is
hurting a bit and I've pushed them up and influenced
them up, even sometimes the fee in the middle is
part of the negotiation, a three way transaction.
Speaker 2 (34:52):
Just a quick question on tenders. Somebody says Heiman, well,
it's should be high Martin. If two unconditional tenders are
within say, ten thousand of each other, with the agent
negotiap with the two to see how far they'll go wards.
Is the offer of the tender that the beginning end or.
Speaker 3 (35:08):
The normal protocol there? The agent would say, you're the vendor,
say Tim, look, we've got two offers very close. The
recommendation would be to go back to both parties and say, hey,
good news is you're you're still in contention here. The
other offer is very close to yours. We want to
(35:29):
give you one last shot at it. Give it your
best shot. Have you got any more in you to
own it? And you'd probably you would in a close
call like that. You go back to both parties and
give them another shot to increase.
Speaker 2 (35:40):
Yeah, okay, let's take another call Andrew high.
Speaker 6 (35:44):
Yeah, Hi, just a voice the button. In terms of
selling them buying right now, is it better to build
because I noticed the build prices have come down a lot,
and the cost of buildings come down a lot, and
to build and cell.
Speaker 2 (36:06):
Okay, so build something or by existing stock.
Speaker 3 (36:10):
Yeah, I'll tell you what the trouble is the delay
of building. I mean, certainly construction industry is looking for
work at the moment, so the price to build is
clearly less than it was in the boom up in
twenty twenty two. So you can get lower construction costs,
but you've still got to be living somewhere while you
(36:32):
go through a six month build. So and also depends
where you're building. I've got friends looking at Queenstown. Still
cheaper to buy a secondhand home in Queenstown is to
try and find a builder and build something there. Auckland
there's some great build companies that can you find the
piece of land and they can build the product for you.
So you can do your homework on that. Because the
(36:55):
second hand housing market is affordable at the moment. We've
seen it reduction in the value of properties and there's
a lot of properties on the market, so you've got
a good choice.
Speaker 2 (37:04):
Hey, god Only, thanks for your call, Andrew. We'll be
back in just a moment. It is ten minutes to
five News Talks.
Speaker 1 (37:09):
He'd be the one roofed property of the week on
the Weekend Collective.
Speaker 4 (37:16):
Now.
Speaker 2 (37:16):
I asked my producer Tire when she chooses property, and
I said, what did you like about this one? Jesseddyf
Curisa and she says, I love the FARMI vibe. It's
a six retreat road, Haruru in the far North. Three bedrooms,
two bathrooms, two car garage, garage garage. The house is,
you know, decent size, two hundred and eighteen square meters
land of four thousand square meters. It's got an RV
(37:39):
of the estimates basically same as the r V one
point one nine million. So it's a single level home,
mezzanine comprising two wings connected by welcoming entrants and the
options apparently endless, as it says, I'm going to get
Martin your take on this, Martin, how would you describe
the house and how would you sprink it up? Martin
cooper wise, Oh, well.
Speaker 3 (37:59):
I like it. It's modern, it's new built. It's only
built in two eighteen, fully insulated, double glazed, even though
you don't need too much of that up in the
winterless north. But the other thing is you could do
home business there, art studio, you could have multi generational
living there. Get your I might get Don to come
and move in there, and he's instead of a retirement home,
(38:23):
move up there, and it's such a great location up there.
Speaker 2 (38:26):
You know, it does have a great sort of shared
slash garage with the work bench and everything. I think
i'd be wanting to make sure that they left the
work bench in there. That would be something you want
to haggle, wouldn't it.
Speaker 3 (38:36):
It would be. But looking at p har and Bay
of Islands up there, real peaceful lifestyle, good community up there,
the scenic beauty and pricing. If you're selling up out
of Auckland, getting up there, there's still a good price gap.
Put a bit of money in the bank, maybe a
bit of will travel or you know, just live your
(38:56):
best life. Good school if you've got younger family, great
schooling up there too. That Kerry Carey School's got a
great reputation.
Speaker 2 (39:03):
So move north North Martin. I can see where you're
a successful real estate agent. I was almost thinking maybe
I'll have a look at the budget myself. Ah, not really,
that's a bit of a commute.
Speaker 4 (39:14):
Hey.
Speaker 2 (39:15):
If you do want to go and check it out,
go and look at six. You can look at it
on the one roof site. That's one roof dot co
dot NZID six Retreat Road, Hooru roof Far North so
Go and check that out. One point one nine million.
I guess it's actually it's by auction. Oh that's interesting.
Speaker 3 (39:31):
Oh my god. You're given the price away. Maybe that's price.
Speaker 2 (39:35):
It says estimate here, this is through, then there's the
IRV and then one roof does a does an estimate.
AI is getting pretty clever these days that I'm working
a lot of this stuff out.
Speaker 3 (39:45):
Oh, isn't it? I don't I can't make a decision
by myself.
Speaker 2 (39:49):
Actually, I'm fascinated with just how the location location you
can look at a house. It's maybe, for instance, where
we live, we're a couple hundred meters from the beach,
and if I just look at a similar house there
would be quite a different value, even if it was
just another kilometer and a half away. But it's amazing
how location can be so such a powerful sort of
(40:10):
tool and getting a good price for your house.
Speaker 3 (40:12):
Isn't it Absolutely phenomenal. That's probably why we're never going
to get done out of a job as real estate agents,
because every home and New Zealand is unique and there's
two million of them.
Speaker 2 (40:23):
Yeah. Hey, great to have you. I hope we'll get
you back again soon. Martin Dunn. You can go and
look up Harkwats, Cooper and cur if you want to
have a chat with Martin about anything and if you
want to hear any of the advice and the chat
we had great, great out of discussion. It'll be online
very shortly, go to the News Talk's EDB website. But
the parents quite as next with Nathan Wallace, this is
News Talks ed B back in the.
Speaker 3 (40:44):
Moment, something Mamie be in the middle, not any need
it is a.
Speaker 1 (40:53):
Little for more from the Weekend Collective. Listen live to
News Talk zed B weekends from three pm, or follow
the podcast on iHeartRadio.
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