REAL Ltd Is Continuing To Expand
With the opening of two new branches within the space of the last week - one in Whangarei and the other in Dunedin - the
REAL Ltd real estate chain now has 27 branches throughout New Zealand from Northland to Otago.
Dunedin branch opened its doors this Monday (25/9) after overcoming an objection by the New Zealand Real Estate
Institute which set back its planned opening by a month.
REINZ had objected that REAL Ltd in Dunedin was not under the proper control of the principal licensee, Mr Don Ross,
because he is based in the REAL head office in Auckland and not in Dunedin itself. REAL contested the objection and a
statutory hearing - held in terms of the Real Estate Agents Act - ruled in REAL Ltd's favour late last week.
National Project Co-ordinator, Warwick Brown, described REAL Ltd's victory over REINZ as "hugely satisfying". "They
over-turned the objection most convincingly and now they're raring to go," he says.
REAL Ltd's Dunedin branch manager, Viv Patrick, who is an Associate of REINZ, spent the last five years as a real estate
branch manager in Alexandra and Mosgiel.
"We know we have opened in a tight market but there are still buyers out there who are looking for good properties, and
who will be attracted by the REAL style of business," says Mrs Patrick. "My experience tells me we're on to a good thing
and that we're going to become a real force in Otago real estate."
Just one week after opening its first branch in Northland, REAL Ltd in Whangarei already has 22 property listings with
another eight pending while banded valuations are obtained. Branch Manager, Kevin Trass, who has 12 years real estate
selling experience in Whangarei, says REAL's listings are in the mid range ($160,000) to high end ($600,000) of the
property market.
"We have some very saleable houses and I am confident that we are going to have our first sales soon," he says. Mr Trass
says his optimism is based on REAL's quality housing stock and the fact that the economic indicators in Whangarei are
quite positive after a long period of gloom.
"We've had a pretty tough time up here for the past two years, and Whangarei in particular has been in something of a
slump," he says. "However, during the past few months - starting in the middle of winter - the mood has begun to
change."
He attributes the upbeat mood to the news about the development of the new port, and the recent announcement that luxury
superyachts are going to be built in Whangarei for export.
"There is an air of growing optimism that I expect to see reflected in renewed property buying and selling. Our own
listings are extremely good, especially after just one week of opening our doors. Queries are coming in all the time and
new people are calling every day. Much of this is due to the strong backup we are receiving from the six firms of REAL
lawyers here in Whangarei."
ends
For further information please contact:
Warwick Brown
National Project Co-ordinator
tel: (09) 630 6759