PHOTO: FILE
Choosing the right real estate agency to sell your home can be a daunting task. To make this decision easier, we surveyed nearly 2,000 individuals who sold or bought a house in the last three years. The results are in, and one agency stands out for leaving both vendors and buyers feeling positive about their experience.
In our first-ever real estate agency survey, AndCo Realty Group emerged as the top choice, earning our inaugural People’s Choice award. AndCo operates nationwide with different names in various regions, such as Lowe & Co in Wellington, CK & Co in Hutt Valley, and Winder & Co in Blenheim. This adaptability has helped AndCo secure a stellar reputation across the country.
Survey Highlights
AndCo achieved a satisfaction rating of 77%, with survey respondents scoring the agency 8, 9, or 10 out of 10. This is significantly higher than the average real estate agency satisfaction rating of 63%. AndCo was praised for its timely responses, market and legal knowledge, and ethical, honest, and open conduct.
The overall satisfaction rating for the real estate industry was 63%. Companies that scored below the average included:
- Sotheby’s: 61%
- LJ Hooker: 59%
- Ray White: 57%
- Professionals: 50%
Interestingly, because real estate agencies typically work for the vendor, buyers rated them lower than sellers. The satisfaction rate was 72% for sellers and 55% for buyers.
Satisfaction with Sale Price
Scott Moore, our market research and insights manager, noted that many sellers found the offers they received and the eventual sale price were below the agency’s appraisal. Specifically, 30% of sellers found the price to be lower than expected, 20% found it to be higher, and 44% found it within the range given.
First-time sellers particularly noted receiving lower offers than expected. These sellers often enter the market with high expectations but have lower confidence, leading to less satisfaction with the process. They are more likely to report issues such as poor communication (28%) and pressure to make quick decisions (35%).
Best and worst estate agencies revealed
Real Estate Companies Results: A Closer Look
1. AndCo Realty Group
- Overall Satisfaction: 77%
- Survey Responses: 57
- Highlights: Timeliness of responses, relevant legal knowledge.
2. EVES
- Overall Satisfaction: 72%
- Survey Responses: 36
- Highlights: Property knowledge, legal knowledge.
3. Tremains
- Overall Satisfaction: 70%
- Survey Responses: 30
- Highlights: Quality of information and advice.
4. Tommy’s
- Overall Satisfaction: 69%
- Survey Responses: 45
- Highlights: Consistently above or equal to industry average.
5. Bayleys
- Overall Satisfaction: 67%
- Survey Responses: 178
- Highlights: Highest rating for property knowledge.
6. Tall Poppy
- Overall Satisfaction: 65%
- Survey Responses: 60
- Highlights: Transparency of fees and charges.
7. Property Brokers
- Overall Satisfaction: 65%
- Survey Responses: 119
- Highlights: Quality of advice, slightly below average on some measures.
8. Barfoot & Thompson
- Overall Satisfaction: 65%
- Survey Responses: 167
- Highlights: Consistent average scores.
9. Harcourts
- Overall Satisfaction: 63%
- Survey Responses: 352
- Highlights: Scores close to the average.
10. Mike Pero
- Overall Satisfaction: 63%
- Survey Responses: 46
- Highlights: Professionalism, timeliness, transparency of fees.
11. Sotheby’s
- Overall Satisfaction: 61%
- Survey Responses: 36
- Highlights: Below industry average.
12. LJ Hooker
- Overall Satisfaction: 59%
- Survey Responses: 59
- Highlights: Quality of advice, low timeliness.
13. Ray White
- Overall Satisfaction: 57%
- Survey Responses: 374
- Highlights: Below average on all attributes.
14. Professionals
- Overall Satisfaction: 50%
- Survey Responses: 62
- Highlights: Lowest scores in professionalism and other attributes.
About Consumer NZ Survey Data
Our data comes from a survey of 1,982 Consumer NZ members and supporters conducted in February and March 2024. Respondents were asked about residential real estate transactions involving a licensed real estate professional in the past three years.
Satisfaction Rating shows the proportion of respondents who scored their agency 8, 9, or 10 on a scale from 0 (very dissatisfied) to 10 (very satisfied).
Ratings are shown for 14 key measures, including overall satisfaction, professionalism, conduct, timeliness of responses, property knowledge, market knowledge, legal knowledge, process explanation, transparency of fees, marketing clarity, information provided, quality of advice, ease of settlement, and managing expectations.
Only agencies that received 30 or more responses are featured in the ratings. For instance, First National, with 28 responses, did not meet the threshold and is therefore not included in the highlighted results.
SOURCE: CONSUMER