When Auckland real estate couple Terry and Diana King decided to relist their multi-million-dollar Remuera villa this year they knew who not to hire –themselves.
Five years ago, the couple put 37 Bell Road on the market and soon learned that it’s never a good idea for agents to sell their own homes.
“You can’t sell your own house, because you see it differently. So many things that mean so much to us, we can’t let it go,” Terry told OneRoof.
This time around the owners of Remuera Real Estate Register are determined to sell and have made the bold move of engaging two rival agents, Richard Thode and Rae Zhang, of Ray White Epsom, to bring out the buyers.
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“We needed agents with the vision of the property in relation to the current market and matching this to buyers so the answer was to appoint Richard and Rae,” Terry said.
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Terry said he and Diana would get out of the way and let the pair do it their way. “They understand the house and the current market almost as well as we do!” he quipped.
The Kings did have one stipulation for Thode and Zhang – that property should be priced rather than sold by auction, Ray White’s preferred method of sale.
“Bell Road will be sold by price. We have a registered valuation, and a CV of $5.2m all putting it in the same price range,” Terry said.
“Pricing is very good in this market. Places aren’t selling at auction, there’s a market for good houses though it might take a bit longer.”
The kitchen and dining room feature marble, dramatic wallpaper and chandeliers. Photo / Supplied
One of the marble-clad bathrooms. Photo / Supplied
The Kings are ardent believers in price tags, and are currently selling a grand mansion at 532 Remuera Road for $32m, a record asking price for a New Zealand house.
Despite working for the competition, Thode is good friends with the Kings. He first met them more than 20 years ago at a boating club with his wife Kate, and hired them to sell the properties he was developing around Auckland’s eastern suburbs.
“We became their real estate agents and successfully bought and sold properties for them our way,” Terry said.
“Move the clock on another 10 years and Diana and I are very entrenched in the Remuera real estate market and Richard is the number one agent in Ray White Auckland.”
Thode told OneRoof the relationship was already yielding results. “Terry and Diana are perfectly realistic,” he said.
Ray White Epsom agents Richard Thode and Rae Zhang. Thode says he has great respect for rivals Terry and Diana King. Photo / Supplied
The classic villa is already attracting new buyer interest. Photo / Supplied
“I want to be respectful of the property, it already has good support and we’re seeing some interest from what I call ‘warm’ buyers.”
The feedback from the open homes has been positive, with potential buyers impressed by the quality of the property. “All groups through the open homes are new to the home too.”
Thode noted that the couple’s distinctive style of ornate imported wallpapers, antique fixtures and meticulous topiary gardens was not for everyone (there’s even a garage with wallpaper, he said), but buyers could easily imagine the place with more neutral colours and finishes.
“This ticks a lot of boxes. It’s not completely today’s open plan, but people can imagine how it would work.”
Thode said he had a huge amount of respect for the Kings. “I have brought buyers to Terry and Diana’s listings, and they have always been so welcoming to sharing commission.”
He added: “A huge amount of trust is implied in this situation – agent to agent. Of course, that’s a huge responsibility.”
Terry said he and Diana were “primed” for their next project but were holding off starting until they sold the Bell Road property.
“When the right person comes along it will sell immediately.”
- 37 Bell Road, in Remuera, Auckland, has a set date of sale of June 20
