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  1. Post
    #1

    Aaron Drever. How is he not in jail?

    How is this guy not in jail? I remember seeing that guys real estate signs everywhere.

    In November 2016, the Real Estate Authority cancelled Aaron Drever's real estate licence saying he was "unable or unwilling" to change and "the public needs to [be] protected from him".

    It was Mr Drever's ninth finding of misconduct and unsatisfactory conduct.

    Five weeks later, he helped the Avondale Bowling Club - where he is a member and friend of president Arthur 'Pat' Bell - sell one of its bowling greens at 1797 Great North Road in Avondale Auckland.

    At 1101 square metres and just a 10 minute drive into the CBD, the bowling green is worth around $1 million today.

    But Mr Bell said on recommendation from Mr Drever, the Avondale Bowling Club sold it in December 2016 for just $300,000.

    It was bought by a company named Avondale Bowling Club Limited, which was wholly owned by Mr Drever's aunt, Beverley Spain.

    Avondale Bowling Club Limited then on-sold it, the same day it was acquired, to mortgage broker Jonathan Michell for $825,000.

    Mr Drever invoiced the Avondale Bowling Club $20,400 for his "professional advice" relating to the sale of the green and another property.

    The club refused to pay.

    Mr Michell declined to be interviewed by Checkpoint with John Campbell, but said in a statement he was approached by Mr Drever to buy the green and was interested because he "could add value by rezoning the property from recreational to housing and building housing on it".

    "I thought I was paying the bowling club $825,000 for the property. I did not know that there was a sale to [Avondale Bowling Club Limited] for a lower price when I signed the agreement.

    "I would not have purchased or settled had I known the full situation," Mr Michell's statement said.
    http://www.radionz.co.nz/national/pr...ollar-property

    Then he seems to be using the business below to either shift some dodgy money through or defraud others to extract more out.

    Former employees and suppliers at the grocer that replaced Nosh in Auckland say they've lost all faith they'll ever be paid.

    Despite having no grocery or retail experience, disgraced real estate agent Aaron Drever - who was stripped of his licence in 2016 after racking up nine disciplinary findings - last year bought the remnants of the Mt Eden Nosh supermarket after it went into receivership, and rebranded it The Grocer's Market.

    Since opening in November last year, Mr Drever has racked up debts allegedly worth more than $100,000 to former staff and suppliers.
    https://www.radionz.co.nz/national/p...nosh-successor

  2. Post
    #2
    White collar crime is the answer why.

  3. Post
    #3
    Tell that to former real estate agent Aaron Hughes who bought a property for $590 k after receiving a valuation of it for $1.2 million. He's on trial atm

  4. Post
    #4
    How on earth did they think $300,000 was a good valuation in this market?!?

  5. Post
    #5
    They trusted their "mate" - he was a club member.

  6. Post
    #6
    The club guy definitely got a kickback, but not a big enough kickback.

    No one is that ****ing dumb.

  7. Post
    #7
    Loyalty knows no bounds.

    The NZ Yacht Squadron paid over the odds for diesel to member Harry Julian for years, after he negotiated a club contract with the fuel supplier.

  8. Post
    #8
    Can someone explain real estate licenses to me.

    Am I not allowed to sell anything with a roof without one?
    Are they like 10% lawyers?

  9. Post
    #9
    They're bound by the provisions of the Real Estate Agents Act and the Real Estate Agents Authority's Code of Conduct. I assume that's the only legislation they really need to be versed in, maybe Residential Tenancies Act and stuff as well.

    They get paid 80% of the commission, 20% goes to the agency depending on the salesperson's (that is what they call themselves, not "real estate agent") experience. That guy Aaron Hughes made 350k one year just on commissions and was acquitted.

  10. Post
    #10
    Tormenta wrote:
    They get paid 80% of the commission, 20% goes to the agency
    They must be so keen to persuade the owners to sell for as little as possible to get it through as quickly as possible.

  11. Post
    #11
    Quasi ELVIS wrote:
    They must be so keen to persuade the owners to sell for as little as possible to get it through as quickly as possible.
    In Auckland at least the time factor isn't such an issue I guess. But they should be acting in the interests of those they're about to earn around $35k off

  12. Post
    #12
    Tormenta wrote:
    In Auckland at least the time factor isn't such an issue I guess. But they should be acting in the interests of those they're about to earn around $35k off
    That's mental, $35k for doing **** all and then another $35k the next week.

    Why isn't everyone trying to be a real estate agent?

  13. Post
    #13
    Quasi ELVIS wrote:
    That's mental, $35k for doing **** all and then another $35k the next week.

    Why isn't everyone trying to be a real estate agent?
    I guess if you're into sales and selling to people, it's extremely profitable but some people hate that type of job (like me). I suppose there's a lot of competition also

    This Chinese salesperson in the Hughes trial could hardly speak English and was apparently the number 1 best salesperson for Harcourts in her area. Meanwhile an Indian guy gave evidence that he owned around 40 properties in Auckland and bought and sold 17 a year, he also could hardly speak English. It's interesting to me that they can not only survive but prosper significantly in those conditions.

  14. Post
    #14
    Most REA make chump change. Sub $50k pa

  15. Post
    #15
    swazi wrote:
    Most REA make chump change. Sub $50k pa
    If you're making this in the 09, you should reconsider your career choice

  16. Post
    #16
    Tormenta wrote:
    This Chinese salesperson in the Hughes trial could hardly speak English and was apparently the number 1 best salesperson for Harcourts in her area.
    I've seen that before somewhere, the Chinese RAs do the most business because there are so many Chinese buyers who obviously want to deal with someone who can speak their language. A NZer wanting to buy a house in Beijing would take the NZer RA every time rather than trying to ask serious hundred thousand dollar questions in broken Pekingese.

  17. Post
    #17
    It's a lot of work, weekdays, weekends, calling up lots of people, getting listings, building up relationships. A lot listings are through recommendations from other people

  18. Post
    #18
    Quasi ELVIS wrote:
    I've seen that before somewhere, the Chinese RAs do the most business because there are so many Chinese buyers who obviously want to deal with someone who can speak their language.
    Yep stands to reason but isn't that a problem, that the majority or at least a significant number of sales are going to Chinese buyers? In my suburb (Bayview, Auckland) 61% of house sales went to them in 2017.

  19. Post
    #19
    i.e.awesome wrote:
    It's a lot of work, weekdays, weekends, calling up lots of people, getting listings, building up relationships. A lot listings are through recommendations from other people
    Boohoo for $35k per house. How many dollars an hour is that?

    Tormenta wrote:
    Yep stands to reason but isn't that a problem, that the majority or at least a significant number of sales are going to Chinese buyers? In my suburb (Bayview, Auckland) 61% of house sales went to them in 2017.
    I don't care as long as the house prices don't go up because of it (which they very well may do?)
    If I had to make a list of racial stereotypes and put them in order of which I'd prefer to live next to, wealthy educated middle aged Chinese couple, (as they probably are to get residency), would be fairly high up there. *

    Now I think of house prices going up, wouldn't all the homeowners be happy about that? I can almost hear them chanting "More Chinese, less new houses!"


    *Mexicans would be dead last.

  20. Post
    #20
    FU but I agree, my neighbour's house is selling atm and I pray to a God that i don't even believe in that the successful buyers are Chinese.

  21. Post
    #21
    Tormenta wrote:
    In Auckland at least the time factor isn't such an issue I guess. But they should be acting in the interests of those they're about to earn around $35k off
    Lol.

    Real Estate Agents are financially motivated to sell a house as quickly (aka cheaply) as possible. Not the highest price possible.

    If you can sell an 800k house for 600k in a week and pocket 10k. Then you not only have cash in hand, but have a higher hourly rate than an 800k house that you sell for 900k in two months and pocket 15k (which you also may or may not sell).

    You could then **** around for 6 weeks, then flip another 800k house in another week for 600k and have 20k in hand.

    Work 2 weeks in 8, net 20k vs work 8 weeks in 8, net 15k. It's a no brainer.

    An 800k house selling for 600k doesn't require any work on the buyer part to sell in Auckland, so you can then chuck up a show, couple TradeMe listings, then spend your hours that week nailing the seller to sell at the lower price.

    Not only that, they get to say, "I have an average turnaround of 1 week" to prospective sellers who see that as a good thing.

    And if you run out of houses to sell, do another annoying flyer drop. Or a door to door. Or pay someone to cold call for you.

  22. Post
    #22
    Financial motivation notwithstanding, properties sell very quickly in Auckland anyway.

  23. Post
    #23
    suntoucher wrote:
    Lol.

    Real Estate Agents are financially motivated to sell a house as quickly (aka cheaply) as possible. Not the highest price possible.

    If you can sell an 800k house for 600k in a week and pocket 10k. Then you not only have cash in hand, but have a higher hourly rate than an 800k house that you sell for 900k in two months and pocket 15k (which you also may or may not sell).

    You could then **** around for 6 weeks, then flip another 800k house in another week for 600k and have 20k in hand.

    Work 2 weeks in 8, net 20k vs work 8 weeks in 8, net 15k. It's a no brainer.

    An 800k house selling for 600k doesn't require any work on the buyer part to sell in Auckland, so you can then chuck up a show, couple TradeMe listings, then spend your hours that week nailing the seller to sell at the lower price.

    Not only that, they get to say, "I have an average turnaround of 1 week" to prospective sellers who see that as a good thing.

    And if you run out of houses to sell, do another annoying flyer drop. Or a door to door. Or pay someone to cold call for you.
    Often though you're going against competing agents to get a listing so it's hard to undervalue a house when Charlie brown says he's going to get them 20% above market, in a relatively hot market.

  24. Post
    #24
    October 2017:

    Almost 16,000 real estate salespeople had just 5428 residential property sales between them in September, data shows.

    That means at least two-thirds of agents went through the month without a pay cheque.

    Real Estate Institute statistics for September show the number of properties sold dropped 26.2 per cent, year-on-year.

    ​The drop was not just in Auckland, which has led the market slowdown. For the whole of New Zealand, excluding Auckland, volumes dropped 23.7 per cent, compared to 2016.

    Economist Shamubeel Eaqub said life would be tough for some real estate agents. He said the market was "very bloated" with a high number of salespeople compared to sales.

  25. Post
    #25
    That means at least two-thirds of agents went through the month without a pay cheque.
    They still get a few bucks a month for their troubles regardless, don't they?

    Economist Shamubeel Eaqub said life would be tough for some real estate agents. He said the market was "very bloated" with a high number of salespeople compared to sales.
    **** 'em