Vendor-agent relationships strengthening
He says the majority of sellers are meeting the market in terms of asking price at agents' coaxing because they are realising agents merely won't waste their time with a house that is over-priced, due to there being a surplus of properties for sale on the market.
Realestate.co.nz released figures on July earlier this week, show asking prices fell almost $10,000 from June to $400,481 last month, reflecting vendors' acquiescence to meet the current market, while the inventory of unsold houses on the market rose to the equivalent of 46.8 weeks' worth, or 52,404.
"Agents don't want to list a property and put up with a four-week marketing campaign when they know a house is priced out of the market," Helm says.
"People need to be realistic. If they want to sell, they've got to price accordingly."
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