85 days ago

Cautious optimism prevails

Malcolm Cox from Cox Partners Estate Agents

Last week the Reserve Bank reviewed the Office Cash Rate (OCR). In March the OCR was reduced to 0.25%, and it came as no surprise that it remained unchanged. The OCR is effectively the wholesale price for lending money in New Zealand, and it influences retail interest rates.

Home buyers have … View more
Last week the Reserve Bank reviewed the Office Cash Rate (OCR). In March the OCR was reduced to 0.25%, and it came as no surprise that it remained unchanged. The OCR is effectively the wholesale price for lending money in New Zealand, and it influences retail interest rates.

Home buyers have benefited from the decline in mortgage interest rates. For example, the average two-year fixed rates with major banks has fallen from 3.31% in March to 2.88% in May – that’s a 13% drop. The Reserve Bank governor referred to the economy currently doing better than expected, although downsides remain.

Following events of the past couple of weeks, many business people believe the biggest threat to the economy and business in general is a new community outbreak of Covid-19 forcing us back into lockdown. Effective border control is essential to maintaining public confidence.

People are also looking for indications that the pace of economic growth will accelerate into 2021. So far, the focus has been on carrying businesses and jobs through the weak June quarter and facilitating education and retraining for the unemployed. More is required to stimulate economic growth and investment.

As the election approaches, expect this to be debated thoroughly during the next couple of months. During this time the second round of the wage subsidy will expire, and the chances are reasonably high that when this happens many businesses using the subsidy will let go of some of their subsidised employees.

Recently there has been a significant increase in enquiry from first home buyers and, to a lesser extent, investors. Those looking for a bargain are likely to be disappointed given the continuing shortage of listings and absence of interest rate pressure on current owners.

The shortage of stock particularly in the lower quartile price range ($250,000 – $500,000) means that properties in this range are often receiving multiple offers and selling above price expectations. In April, while the Reserve Bank lifted LVR (loan to value) restrictions on mortgage lending, this benefit has not tended to have been passed on to borrowers as Banks have continued to impose tight lending criteria, amid concerns about the uncertain economic environment. Most borrows still require at least a 20% deposit.

In some instances, we have observed that mortgage applications have taken longer. And some lenders are

requiring detailed income projections and proof of income, especially in certain Covid-19 affected industries.

If you’re looking for help selling a property in Hawkes Bay talk with one of the Cox Partners team first. Call us anytime on (06) 835-4321.

Image
99 days ago

Market comes back gradually

Malcolm Cox from Cox Partners Estate Agents

As lockdown restrictions eased during May, the New Zealand property market gradually came back to life. There were 74 sales in both Napier and in Hastings during May, almost 4 times the 19 sales recorded in April when Level 4 restrictions brought the market to a standstill.

However, sales were … View more
As lockdown restrictions eased during May, the New Zealand property market gradually came back to life. There were 74 sales in both Napier and in Hastings during May, almost 4 times the 19 sales recorded in April when Level 4 restrictions brought the market to a standstill.

However, sales were still down by 45.7% compared to the same period last year. This is not surprising given the first 12 days of May Alert Level 3 restrictions meant that agents were allowed only two property viewings, per property, per day. This made it difficult to get interested people through properties.

The REINZ House Price Index, which adjusts for differences in the mix of properties sold and is considered a more reliable indicator of the movement in prices than either median or averages, increased 12.6% year on year in Napier. Hawkes Bay was one of only four regions to see a positive movement in the monthly HPI data.

While the data shows that length of time it took to sell a property increased significantly in May (from 35 to 55 days) this is primarily because during April property viewing was restricted to virtual tours.

This biggest factor dampening demand for and values of property is likely to be a rise in unemployment. Reserve Bank governor Adrian Orr is predicting unemployment will reach around 9%, and house prices will fall by 9% on average.

However, economist Tony Alexander points out that many tend to be overly pessimistic, forgetting about the supportive, insulating factors which encourage recovery (e.g. record low interest rates, the security of residential property and the governments economic simulation). Cameron Bagrie (Bagrie Economics) observes that markets in Hawkes Bay, Gisborne and Southland continue to show strength. Generally, massive price falls are not predicted.

There are however likely to be differences across various price segments. In Hawkes Bay over 70% of properties sell between $400,000 and $800,000, with an average of around $575,000. The number of homes available for sale below $600,000 is significantly less than the level of demand (by over 15%). In this price range strong prices are being sustained by demand pressures, often pushed upward by multiple offers.

On the other hand, the supply of homes for sale above $800,000 is almost double what the local market usually turns over. In the higher price ranges, sellers are already attracting offers at less than pre-covid19 levels. We expect activity will take a couple of months to revive and the data over this time will provide a clearer picture of what to expect.

If you’re looking for a further information about the local real estate market talk with one of the Cox Partners team first, or call me anytime on (06) 835-4321.

Image
107 days ago

Kindness and "Giving for Good"

Malcolm Cox from Cox Partners Estate Agents

One of the unexpected benefits of the Covid-19 lockdown has been an elevated awareness of the power of kindness. During one of our darkest times we have been encouraged to help someone else as an antidote to fear, anxiety, and frustration.

The Dalai Lama advises that being kind is a way of life … View more
One of the unexpected benefits of the Covid-19 lockdown has been an elevated awareness of the power of kindness. During one of our darkest times we have been encouraged to help someone else as an antidote to fear, anxiety, and frustration.

The Dalai Lama advises that being kind is a way of life that can bring happiness to others, as well as to those who practice it.

We believe this idea is a game changer. So much so, that our team has decided to specifically include kindness (in the form of benevolence) as a value in our business.

Values define how people on our team should behave. Values also provide a guide for our decision making.

Cox Partners values are easy to remember, because they form the anagram TRUST which represent the following:

TRUST – Our character and competence gains credibility and wins the confidence of others. We deliver on our commitments.

RESPONSIBILITY – We are personally accountable for our actions and results.

UNDERSTANDING – We are knowledgeable and well informed. We are lifelong learners.

STANDARDS – We set standards and plan for excellence. Our actions and results are consistent. We continuously strive to improve.

TRUTH – We are characterized by our honesty, integrity, fidelity, ethical behaviour, and benevolence.

You’ll see benevolence is now included in our definition of TRUTH.

And to walk the talk, our team has created Cox Partners ‘Giving for Good’ – an initiative to support charities in our local community.

What this means is when you sell with Cox Partners, you choose a local charity to receive a $500 donation – a ‘Gift for Good’.

Last week, at the conclusion of a negotiation I saw the power of this simple idea when I asked which charity our seller would choose – she was overcome with emotion.

This made me realise that many of us have a cause that is close to our heart. People who have helped us, or someone we love, at a time of need. Now we can help you give back to them.

Our business is real estate, but our vision is to ‘change lives for good’. We hope you will become part of the giving.

Call 835 4321 now – and join us in Giving for Good!

Image
113 days ago

Will prices fall in Hawkes Bay?

Malcolm Cox from Cox Partners Estate Agents

An interesting aspect of the debate about the housing market this recession compared to the 2008 – 09 Global Financial Crisis is that generally, massive price falls are not predicted. More people are losing their jobs than then, but there are other factors which appear to be supporting house … View moreAn interesting aspect of the debate about the housing market this recession compared to the 2008 – 09 Global Financial Crisis is that generally, massive price falls are not predicted. More people are losing their jobs than then, but there are other factors which appear to be supporting house prices and limiting the number of forced sales.

Reserve bank governor Adrian Orr is predicting unemployment will reach around 9% and house prices on average to fall by around 9% (coincidentally). Other forecasters, like economist Tony Alexander, are predicting lower levels of depreciation of between 5% and 10% across the country.

However, wide variations are expected between regions. For example, big falls are expected in tourism towns like Queenstown and Rotorua. But economist Cameron Bagrie believes real estate markets in Hawkes Bay, Gisborne and Southland will continue to show strength while other regions have moderated.

We also expect differences across various price segments. In Hawkes Bay over 70% of properties sell between $400,000 and $800,000, with an average of around $575,000. The number of homes available for sale below $600,000 is significantly less than the level of demand (by over 15%).

In this price range strong prices are being sustained by demand pressures, often pushed upward by multiple offers. On the other hand, the supply of homes for sale above $800,000 is almost double what the local market usually turns over. In the higher price ranges, sellers are now attracting offers at less than pre-covid19 levels.

Tony Alexander has identified some of the factors he expects to support the real estate market in the months ahead. Follows is an abridged summary of some:

1. Record low interest rates have just gone lower and may continue to fall. Two-year fixed rates are now only 2.69%.

2. Removal of LVRs could make a purchase possible for those who do not have enough deposit to make a 20% deposit (or 30% in the case of an investor).

3. The application of LVRs since 2013, means there are few people with high levels of debt and low equity in their properties.

4. Because average house prices have risen by up to 30% in the last 4 – 5 years most buyers have built up good equity in their current property.

5. Many of those being made redundant do not own a home and would not have qualified for a mortgage given their income circumstances.

6. The loss of migrant workers is likely to affect rents rather than property owners.

7. As New Zealanders return from overseas, after decades of losses there may be a shift to a net migration gain.

8. Commercial property investors may switch their focus back to residential property as business reduce office space.

If you’re looking for help selling a property in Hawkes Bay talk with one of the Cox Partners team first.

Image
122 days ago

Lockdown lessons

Malcolm Cox from Cox Partners Estate Agents

During the weekend I found myself reflecting on my busy pre-covid life – full of things I needed to control, juggle and manage. Isn’t that just what business owners do?

But lockdown removed much of that responsibility and many of our choices (for a few weeks, anyway). We were encouraged to be … View more
During the weekend I found myself reflecting on my busy pre-covid life – full of things I needed to control, juggle and manage. Isn’t that just what business owners do?

But lockdown removed much of that responsibility and many of our choices (for a few weeks, anyway). We were encouraged to be kind to each other and to ourselves.

Our family spent more time close together – we played cards, board games, watched movies and talked more with each other. My wife and I created a morning meditation routine – which we’re continuing.

But as we gradually return to normality, I noticed myself moving back into some of the same manic patterns. So, I stopped and asked myself – what has lockdown taught me?

Here are some of thoughts . . .

• Walking around Ahuriri estuary each day I felt lockdown allowed nature to shine. Nature doesn’t seem to rush. It takes its time. Nature isn’t worried about the future – and nor should we.

• Walking and biking became the recreation of choice for many. Pandemic or no pandemic, it’s great for your physical and mental well-being. Short trips in the car can easily be switched for a walk or bike ride.

• I never realised how much food we sometimes wasted until now. My wife was our designated shopper, but she wasn’t keen to go out. So, we simplified our menu – used up existing supplies and bought just what we needed and knew we would eat. Do we really need to keep the cupboard so full?

• Now that businesses have reopened, many local shops are going above and beyond to adapt. We’re making a conscious effort to support our local producers, shops and businesses.

• Although, it’s not yet clear when we will be able to travel overseas again, one of the decisions we’ve made is to embrace what our own country has to offer. When things get back to normal, we don’t need to take a long-haul flight to have a lovely vacation. There’s plenty to see and do closer to home.

• More broadly, we’ve seen how coming together we can affect change, really quickly. The government told us what had to be done to protect the population, and New Zealand followed. The community stood by each other, with relatively few gripes. We can continue to make a difference on others issues that matter.

The lockdown forced us to stop and re-calibrate. Thinking about it now, I appreciate those lockdown lessons.

We look forward to being of service to you as we move forward with our new normal.

Image
128 days ago

Sales evaporate during lockdown

Malcolm Cox from Cox Partners Estate Agents

The nation welcomed a move to Alert Level 2 last week. Real estate activities have resumed, with added requirements for contact tracing, physical distancing and hygiene etiquette.The protocols we developed and refined during Alert Level 3 will continue through Alert Level 2.

During the Level 4 … View more
The nation welcomed a move to Alert Level 2 last week. Real estate activities have resumed, with added requirements for contact tracing, physical distancing and hygiene etiquette.The protocols we developed and refined during Alert Level 3 will continue through Alert Level 2.

During the Level 4 lockdown period there were high traffic volumes through the online real estate portals and social media pages as people continued to search for property. As we entered Alert Level 3 we were kept busy with contactless final inspections, settlements and buyer inspection, particularly properties priced around the mid-range.

On Friday, REINZ released data for sales in April 2020 and as expected with the first 27 days in Level 4 lockdown, volumes dropped drastically.

In Napier just 19 homes sold, 85% fewer than the prior month. Approximately one third of these sales were negotiated in March, and two thirds following the post Easter move to Level 3. When offices opened under Level 2 late last week, enquiry has been consistent and steady which makes us cautiously optimistic.

Three factors are most likely to affect the recovery of the real estate market in Hawkes Bay and elsewhere:

1. the number of listings;
2. consumer confidence;and
3. the availability of finance.

We expect activity will take a couple of months to revive and the data over the next few weeks will provide a clearer picture of what to expect. The biggest factor dampening demand for and values of property is a rise in unemployment, however economist Tony Alexander points out that many people tend to be overly pessimistic, forgetting about the supportive, insulating factors which encourage recovery.

Alexander identifies four such factors likely to moderate declines in the real estate market:

1. record low interest rates which improves affordability;
2. investors switching from commercial property and shares to residential property;
3. economic stimulation attracting funds to the asset market; and
4. money saved by people with jobs which increases their potential house deposit.

As we re-establish ourselves in the aftermath of the Covid-19 pandemic there are several possible pathways the country could follow ranging from terrible to pretty good. None of them are guaranteed.

What is guaranteed, is that we are here to help.

For more detailed information about the Napier Property market please call us on on 06 835-4321.

Image
134 days ago

WHERE TO NEXT FOR THE HOUSING MARKET

KIm Rio from Cox Partners Estate Agents

During the past two months our homes have been thoroughly tested. We have been working from home and home-schooling our children.

In some cases, people have realised their homes are not suitable, and as a result the internet property portals are all reporting that audience activity rose by 50% … View more
During the past two months our homes have been thoroughly tested. We have been working from home and home-schooling our children.

In some cases, people have realised their homes are not suitable, and as a result the internet property portals are all reporting that audience activity rose by 50% during the lockdown. In some cases, this led to daily email enquiries doubling. With the move to Level 3 the early signs have been that much of the pent-up demand (which was cut off at the end of March) remains.

For this reason, buyers, sellers and agents are looking forward to resuming activities more fully. As we progress to Level 2 this week, what can you expect to occur in the real estate market?

Real estate strategist, Mike DelPrete, describes his observation that recovery in other world markets has the look of a tick (✔) – beginning with a severe, immediate drop, followed by a gradual recovery. Property economist, Kelvin Davidson (from Corelogic) is estimating a busy period immediately following the resumption of business, thanks to that pent-up demand which would see the market and prices hold. He predicts that things may get “tricky” during the winter months.

In the current low interest rate environment, economist Tony Alexander does not see too many people being forced to sell, and this limits the negative effect on prices. The other point Alexander makes is that those suffering the most in the economy will be people in tourism and hospitality and they tend to be younger, who do not tend to own a home or be planning to buy.

The true state of the market is likely to become evident in spring when mortgage deferrals start to end and homeowners who have lost income may have to reconsider their financial situation. One of the positives to come out of the lockdown, says Alexander, is that millennials will realise how much money they can save when they are not eating out and travelling. He sees this as an opportunity for them to enter the housing market.

And remember it is an election year, which usually means the Government is likely to spend more in the coming months to try to get confidence up and the economy kick-started.

As the country emerges from this pandemic there are several possible pathways the country could follow. Some are terrible. Others are pretty good, all things considered. None of them are guaranteed. What is guaranteed, is that we are here to help. Call us anytime on 06 835-4321.

Image
143 days ago

MARKET REVIEW APRIL 2020

KIm Rio from Cox Partners Estate Agents

Market Review April 2020
After over 5 weeks in lock down the housing market is open for business again. Inspections, settlements and relocation can occur.

Restrictions still apply including health screening, physical distancing, contact tracing, hygiene practices and personal protective equipment.… View more
Market Review April 2020
After over 5 weeks in lock down the housing market is open for business again. Inspections, settlements and relocation can occur.

Restrictions still apply including health screening, physical distancing, contact tracing, hygiene practices and personal protective equipment.

Entering the COVID-19 crisis data indicated that the fundamentals of the Hawkes Bay property market were solid.

Coming out of Alert Level 4 lockdown we’ve observed that the demand for property in our region still exceeds the supply.

This biggest factor dampening demand for and values of property is a rise in unemployment, however economist Tony Alexander points out that many people tend to be overly pessimistic, forgetting about the supportive, insulating factors which encourage recovery.

Alexander identifies four such factors likely to moderate declines in the real estate market:

Low Interest Rates
Record low interest rates are heading lower and likely to stay low for three to five years. Low rates not only improve affordability for owner-occupiers like first-home buyers, they also encourage investors toward shares and property.

Investors switching to residential
As business tenants seek long-lasting rent reductions or vacate their premises, commercial investors are likely switch back to residential property.

Economic stimulation
When the central bank “prints money” to boost economic growth, some funds find their way into asset markets (shares and property) and push prices higher.

Money saved
During lockdown, in the absence of money being spent, people with jobs see their potential house deposit rise. Some may realise that if they maintain this frugality over coming months, this will offset KiwiSaver losses and build a better house deposit.

While the full picture is still emerging, on balance we believe any negative impact on local real estate market may be short-lived. If we move to lower Alert levels during the next few weeks, property commentator Ashley Church believes recovery will be relatively swift.

In the meantime, at Alert Level 3 our office is closed to the public but our work continues (within Ministry of Health guidelines). We are available to appraise and list property for sale, arrange private inspections and for consultations and advice. Call us anytime on (06) 835-4321.

Image
170 days ago

Easter Preparations

Michelle Hickmott from Cox Partners Estate Agents

One of the benefits of the current lockdown period is that it is demand that we prepare for un-predicable situations. In our business one of the practices we implemented some years ago at Easter Time is to review our Emergency preparedness.

While you have the time, we recommend you consider how … View more
One of the benefits of the current lockdown period is that it is demand that we prepare for un-predicable situations. In our business one of the practices we implemented some years ago at Easter Time is to review our Emergency preparedness.

While you have the time, we recommend you consider how prepared you and your family are for a major disaster? Easter is a good time to give this some serious consideration.

A recent survey of New Zealanders level of disaster preparedness found Hawkes Bay people led the country. The Colmar Brunton poll, completed for the Ministry of Civil Defense and Emergency Management, showed 36 per cent of people in this region had a plan of action and an emergency kit in their home.

While that was 10 per cent above the national average, it means almost two-thirds of people in Hawkes Bay are dangerously unprepared for a major disaster.

And if a disaster strikes while people are away from home, the picture is worse, with less than one in five saying they had an emergency survival plan for when they are not at home.

When disaster strikes, you may need to rely on an emergency kit for several days. This is a sobering thought, but the risk is real. Please be prepared!

The experts (at getthru.govt.nz) recommend you make four simple preparations:

1. Learn about disasters and how to keep safe.

2. Create and practice a Household Emergency Plan.

3. Assemble and maintain emergency survival items.

4. Prepare Getaway Kits for leaving in a hurry.

Detailed information about each of these is available at the Civil Defense website www.getthru.govt.nz.... Please check it out.

NZ Red Cross has two very good apps for android and apple devices. The “Hazards” app helps you prepare for disasters, find help and let others know you’re safe. It also has an in-built alert system based on your location.

The “First Aid & Emergency” app gives your instant access to safety information. We recently used this app to contribute toward workplace First Aid Certificates for all our team members.

Also, we recently purchased a Civil Defense Emergency Water Tank from Napier City Council. At just $110 we feel this is exceptional value (you and buy these online from the Council).

From the entire Cox Partners team we wish you a happy Easter.

Cox Partners are working (from home, online) throughout the lockdown period. For us it’s business as (un)usual. Please call us on (06) 835- 4321 anytime.

Image
178 days ago

Together We Will Break-Through

Updates from Cox Partners Estate Agents

People across New Zealand are adapting to life under a lockdown designed to fight the COVID-19 outbreak.

Here are some of the ways the Cox Partners team can assist during the weeks ahead:

1. The Cox Partners team are working (from home, online) throughout the lockdown period.

2. Communication … View more
People across New Zealand are adapting to life under a lockdown designed to fight the COVID-19 outbreak.

Here are some of the ways the Cox Partners team can assist during the weeks ahead:

1. The Cox Partners team are working (from home, online) throughout the lockdown period.

2. Communication will be via phone, video call and email.

3. All enquiries will be responded to in the usual way.

4. We can appraise your home. You will need to have access to a smartphone, tablet or laptop (and Wifi).

5. We can show buyers the inside of your home. You will need to have access to a smartphone, tablet or laptop (and Wifi).

6. Documents can be negotiated and signed electronically.

7. We are available to connect you with help if you need it - or for a friendly phone call. Call (06) 835-4321 if you need assistance - we’ll do our best to arrange the help you need.

Advice from the Law Society is that settlements be deferred until after the Alert Level 4 restrictions are lifted. Even though banks and lawyers are essential services, vendors and purchaser will not be able to move in and out of their homes.

However, conditional contracts can still be confirmed provided no travel or face-to-face meetings are required. If a condition cannot be satisfied during the Alert Level 4 period arrangements can be made to extend the condition until after the lockdown period. The party’s lawyers will make the appropriate changes to the agreement to facilitate this.

Finally, a word about fear summarised from a recent email from author and life coach, Tony Robbins:

‘Fear is a natural human instinct.

Our brain is designed to protect ourselves for the sake of survival. It’s looking for what’s wrong, so you can fight, run away from a threat, or freeze.

But if you do one of these three things every time you are afraid or have pain, you’re going to be constantly fighting, running away, or stopping and putting your life on hold. That is no way to live.

An alternative is another “f” word that is 100 times more powerful than fear. FAITH.

Faith is not learned you are born with it. Faith fuels us through times of fear and uncertainty. It is more powerful than any emotion, even fear.

Faith is knowing that at our core we’re more than anything we will ever face, and we can handle whatever life brings. That’s the power of the human race.’

The Cox Partners team have adopted the mantra “TOGETHER WE WILL BREAK-THROUGH”. We look forward to continuing to be of service.

Stay strong. Live with faith.

Kia kaha. Kia whakapono.

Image
190 days ago

Napier Property Market Update

Updates from Cox Partners Estate Agents

Recent COVID-19 developments have been rapid and the situation changes daily.

The Reserve Bank of New Zealand has slashed the cash rate and eased the banking system’s capital requirements and the Government is about to begin a massive spend up.

Even with this help, most are preparing for a … View more
Recent COVID-19 developments have been rapid and the situation changes daily.

The Reserve Bank of New Zealand has slashed the cash rate and eased the banking system’s capital requirements and the Government is about to begin a massive spend up.

Even with this help, most are preparing for a significant economic downturn.

What does this mean for the property market?

While significant risks lie ahead, the safest assumption is that the impact on New Zealand’s property market will be short-lived.

Data for February indicated that the fundamentals for the property market were solid, but now we need to account for the possible impacts from the coronavirus.

Clearly this is a human disaster, and the economic and property effects are secondary.

A potential rise in unemployment stemming from exporting sectors such as tourism, forestry, and seafood, as well as manufacturing activities that have had their import supply chains disrupted would dampen property demand and therefore values. Some markets may be more vulnerable than others (like the tourist centres of Queenstown and Rotorua).

On the other hand, with the OCR set at 0.25% for the next 12 months, interest rates are expected to remain low, and with the downturn in the share market, investors tend to turn to real estate.

For now, we are cautiously optimistic that Hawke’s Bay will weather this storm well. Our view is that Hawke’s Bay is possibly one of the best places you could be in the face of such a situation.

To ensure the ongoing health and wellbeing of our clients, customers and team members, all Cox Partners staff have been trained in appropriate health and safety precautions.

Cox Partners offers buyers individual viewing by appointment and on request video walk-throughs are also available. We also have video conferencing facilities which allow us to continue to communicate as if we are face-to-face.

For more detailed information about the Napier Property market please us on (06) 835-4321.

Image
204 days ago

Should you rent or buy a home?

Updates from Cox Partners Estate Agents

There are many things to consider when making this decision.

The most important consideration before you buy is affordability.

Read on for some questions to consider when you’re weighing up the affordability of buying a home.

Image
223 days ago

What makes a salesperson GREAT!

Updates from Cox Partners Estate Agents

During the week I have been reviewing our goals and plans for the remainder of the financial year.

I’m very proud of our people – of who they are, what they achieve and the enthusiastic, positive feedback our clients and customers provide about our people.

And I’ve been reflecting on what … View more
During the week I have been reviewing our goals and plans for the remainder of the financial year.

I’m very proud of our people – of who they are, what they achieve and the enthusiastic, positive feedback our clients and customers provide about our people.

And I’ve been reflecting on what makes a GREAT salesperson. It’s not complicated, and it’s within reach of almost anyone who wants to have a great life and is willing to work toward it.

Here are my thoughts…

DECISION
Success begins with a decision. In my experience, at some point in their career, great salespeople decide to separate themselves from mediocrity and decide to become the best they can be.

In other words, they get serious. This decision is a necessary starting point.

CHARACTER
Coupled with a decision to be great, is a commitment to follow through – and to continue to follow through – until a high level of competence is achieved. It’s easy to commit, but it takes character to follow through day after day until you reach your goal.

PERSISTENCE
Greatness doesn’t happen overnight. Setbacks are inevitable, and no matter how big the challenge, it’s going to help you get better. All winners encounter setbacks, you’ve just got to decide whether you’ll be immobilised, or instead face and conquer them.

PATIENCE
Patience is not procrastination. The difference between the two is ACTION. Winners are always doing something which makes them improve in their chosen profession. Success is rarely immediate, you must patiently work toward improving and understanding that by taking steps to improve, and acting on that knowledge, success is just a matter of time.

GETTING SERIOUS
Ordinary results are a result of ordinary knowledge and ordinary execution. Extraordinary results occur when competent people perform results-creating actions again and again.

All of this is under your control.

If you’re serious about a high-performance career, we’re seriously interested in you.

If you aspire to be part of a culture of high-performing salespeople please call me, Malcolm Cox, or Michelle Hickmott on (06) 835 4321 for a confidential conversation and a copy of our Career Information booklet.

Image
239 days ago

Despite Uncertainty, Napier Real Estate Outlook is Positive

Updates from Cox Partners Estate Agents

While the number of sales fluctuates month to month the average monthly sales in Napier sits at around 105 which represents almost half the total number of homes for sale in Napier.

The number of listings continues to be the primary market constraint and is creating a high degree of frustration … View more
While the number of sales fluctuates month to month the average monthly sales in Napier sits at around 105 which represents almost half the total number of homes for sale in Napier.

The number of listings continues to be the primary market constraint and is creating a high degree of frustration for potential buyers. Vendors however are benefiting from the higher prices and a quicker sale.

In Napier the median price has risen incrementally each month, breaking through the $500,000 threshold in the second quarter of 2019.

According to QV, current prices in Napier are 10% higher than at the same time last year. The median price in December was a record $580,000.

At this level home loan affordability has fallen by 1-2% as price inflation outstrips increases in income.

On the other hand, consistently low mortgage interest rates continue to assist potential buyers. The lower rates mean some first home buyers are now able to satisfy the banks serviceability criteria.
In this environment investors are showing a renewed confidence – especially those with the equity and cash flow who can take advantage of competitive interest rates to continue to invest for retirement.

The latest data shows that the median length of time for a property to sell in Napier was just under a month (28 days).

If a property is taking longer than six weeks to sell, it may mean there is some perceived disadvantage in the location or features of the property, or the sellers price expectations may be higher than those of the most active buyers.

The outlook for 2020 remains reasonably positive, though uncertainty in business confidence and doubts about the overall economy is expected to affect people’s willingness to take on more debt.

For an up-to-date report on the local real estate market please call us on (06) 835-4321 anytime.

Image
239 days ago

Are you ready to establish a PROFITABLE NEW CAREER?

Updates from Cox Partners Estate Agents

Here's the opportunity you have been looking for!

Cox Partners business is growing, and we're looking for the right people to join our friendly, hard-working team. A career with Cox Partners can help ensure you are one of the region's top earners, while enjoying Napier's family… View more
Here's the opportunity you have been looking for!

Cox Partners business is growing, and we're looking for the right people to join our friendly, hard-working team. A career with Cox Partners can help ensure you are one of the region's top earners, while enjoying Napier's family friendly lifestyle.

At Cox Partners Estate Agents we know how to build careers. We provide the expertise and support to a select few who are ready to develop a life plan with real estate.

We are committed to fully resourcing your sales career with Cox Partners. At Cox Partners we expect you to SUCCEED!

That's why we pay our people a generous package, including comprehensive training, extensive marketing support, professional sales management and all of the resources you need as a sales professional.

Our system helps you to build a client base, learn our processes and develop real estate skills at our cost.

Find out more and apply now online.

Image
Top