Buying Or Selling a House? Use Your Fly Buys Card

6 November 2006
Fly Buys Launch news release

Buying Or Selling a House? Use Your Fly Buys Card
-First National becomes first real estate network to join programme in exclusive partnership-

New Zealand’s fastest growing real estate network, First National Real Estate, has signed a partnership agreement with Loyalty New Zealand to become the exclusive real estate partner for the Fly Buys programme.

The partnership, which launches today, November 6, will give Fly Buys members the ability to collect points when both purchasing and selling houses through First National Real Estate.

Chief executive of First National Real Estate, Paul Slatin, said over 115,000 homes were sold through real estate agents in 2005 and the partnership was a compelling reason for customers to list with First National over other industry providers.

“This is a first for the real estate industry and demonstrates First National’s commitment to people both buying or selling property. The ability to reward our customers with Fly Buys points not only differentiates us in an increasingly competitive market, but allows us to thank our customers for their loyalty.”

The reward structure and points distribution is based on the house price and is split as follows:

Sale Price Points issued to vendor Points issued to purchaser
$0- $149,999 200 150
$150,000 - $299,999 400 250
$300,00 - $499,999 600 400
$500,000 - $749,999 800 550
>$750,000 1000 700

“Based on the average house price in New Zealand of $313,000, vendors and purchasers would collect Fly Buys points totaling 600 and 400 points respectively. This is enough for a flight for your friends to the housewarming party or a dinner for two while the moving company packs your belongings,” continued Mr Slatin.

Commenting on the partnership, Peter Monk, general manager of Fly Buys said:
“The First National Real Estate co-operative has been built around excellent customer service resulting in client loyalty, so it was an ideal fit for the Fly Buys programme. Three out of four NZ households have Fly Buys and more than 62,000 rewards are taken across the country every month. The chance to include one of the biggest purchases most families ever make – a home - is fantastic news for
Fly Buys members.”

First National’s involvement will be all the more significant given that housing is so closely related to so many other products and services provided by Fly Buys Participant companies. Insurance, home loans, telecommunications and home improvement providers are all key areas covered by the Fly Buys family and are closely integrated with the act of house buying.

First National customers, who are Fly Buys members, will collect their points upon settlement of the sale and purchase of the property and the programme will be available throughout First National’s 110 offices nationwide from Monday 6 November.

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Notes to editors:

First National Real Estate was established in New Zealand in 1985 and is now one of the largest real estate organisations in Australasia (over 600 offices), with sister companies comprised of member shareholders on both sides of the Tasman. While most property sales are local, First National Real Estate members operate a referral network throughout New Zealand, Australia, Vanuatu, Singapore, the USA and Canada. First National Real Estate is a real estate co-operative with a network of more than 100 sales offices nationwide, from Kaitaia to Riverton. The network provides members with the benefits of an established brand and infrastructure while enabling them to operate their own independent, local business. First National Real Estate also offers complementary services to clients including home finance and insurance through strategic partnerships with other companies.

www.firstnational.co.nz

ENDS

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