Style: May 20, 2020

Level 3 of our national lockdown has
provided me with the opportunity
for a 360-degree perspective on the
challenges, insights and opportunities
that exist in the real estate market. I’ve
called it a process because a process it
is, and the main participants all have
different challenges getting through it.
Owners/vendors – ‘Let’s wait’. Firstly, pushing
through that desire to wait till the clouds lift, the
sun shines and the world changes is a challenge.
Waiting has its champions, but the issue is that it
could take a long, long time to get back to ‘normal’
and the market could easily drop within that
period. Every option requires care and thought and
must be counterbalanced against the opportunity
for certainty. For some – and I’m usually in this
group – certainty gives me peace of mind and the
chance to plan ahead. And planning is critical in all
of this.
Once an owner decides to proceed, it looks like
this. Your consultant can show your property
with a maximum of two viewings a day. And there
are no open homes. For homes that, previously,
might have expected a strong response and large
numbers of viewings, this can be prohibitive. There
are restrictions on who can inspect at any one
time: a limited number of people, all from the same
bubble; no children; no one with compromised
health; no touching of anything; shoes off; and
social distancing and sanitization processes
always followed. It’s a list that requires more time
and space to discuss than this column allows, but
with a will there is a way and sales are occurring
despite all of this. I truly believe the resilience builtup
during the Canterbury earthquakes has helped
all of us with the ability to methodically address
challenges, and I notice this constantly within our
own business in this part of the real estate process.
Buyers – ‘Show me the bargains’. In Level 3,
buyers looking for solutions due to selling before
the lockdown are active, and they will continue
to be, but there are others biding their time,
anticipating bargains to come. When compared
nationally, however, the prices in Christchurch are
amongst the most affordable in New Zealand. That
means, apart from some vendors and their specific
circumstances, a massive downward shift could be
unlikely. The expectation of wholesale bargains as
the rationale for a buyer deciding to wait might
keep them waiting till a scarcity of available
property actually pushes prices upwards!
Agents – I made a comment
about this last month and
my feelings haven’t changed.
The best will be busy – who doesn’t want the
best in a changing world. What constitutes ‘the
best’? Fantastic communication and systems for
contacting their clients and engaging buyers.
Active databases and social media connections,
world-class negotiation skills, empathy and a work
ethic that shows nothing is too much trouble. Find
this (you can find it in newbies to the industry as
well as in long-tenured industry stewards) and you
are onto a winner.
Finally, the last part of my 360-degree view: my
personal thoughts. It’s been one of the hardest
times to be a business owner, the best time to be
a family member, and the only time I hope ever to
do this!
Take care and kind wishes.
Lynette McFadden
Business Owner Harcourts gold
JOHN MCFADDEN
Business Owner/Managing Director
Harcourts gold AREINZ
P 027 432 4554
LYNETTE MCFADDEN
Business Owner/Minister of Magic
Harcourts gold AREINZ
P 027 432 0447
VISIBLE, AVAILABLE
& ENGAGED.
If you are looking for a way forward, talk
to the industry experts. Contact any of us today!
CAMERON BAILEY
Business Owner/Harcourts Canterbury &
NZ’s No.1 Sales Consultant
P 027 555 7079
CHRIS KENNEDY
General Manager/Business Owner
P 027 433 5828
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