When, where and how to live in retirement are questions we all face sooner or later. Fortunately, locals’ options are about to improve.When I moved back down south, I set a challenge to myself to leave the area in a more prosperous position than when I arrived. One thing I knew well before I returned was that the Central Otago region desperately needs more health care services for its (growing) communities. This need spans the healthcare spectrum, from primary healthcare and hospital facilities to retirement village and aged care services.My ability to assist in resolving primary and hospital care services is limited – we need to rely on (and likely lobby) central government for these services over time. For the record, the Central Otago/Queenstown Lakes region is now at a size that plans should already be underway for a large fully serviced hospital to be placed in the region; travelling 3 hours to receive acute care for a population of this region’s size (and growing) is simply not acceptable. However, my background in financing retirement village and aged care facilities around the country has allowed me to partner with local investors as a director of the new Aurum on Clutha Lifestyle Village in Clyde.I vividly remember attending a business breakfast meeting about spatial planning soon after arriving in Central.  It turned into a rather heated conversation about where retirement villages and aged care facilities were in this plan. The council can’t be asked to deliver such facilities, which are highly complex and require specialist input, but the meeting highlighted the need for these services in our community.That’s why I am incredibly excited and proud that in a few weeks’ time the first residents of the 128-villa retirement village will be welcomed in. The village will have an amazing array of community facilities for residents, and over time a continuum of care from village to full aged care (including dementia) services. The two main reasons residents enter a retirement village are companionship and security, followed closely by health and downsizing requirements. If these are current concerns for you, or you are looking to plan ahead, then Aurum on Clutha could be an option worth exploring.You can attend the first open home on Saturday 3rd June 2023, by popping into the village on Mutton Town Road.If the village lifestyle appeals, I recommend discussing your finances with your accountant or financial planner to help prepare for the transition.So, when I look back on the challenge I set myself to leave the region in a more prosperous position than when I arrived, developing this community asset for the community is a pretty good start. 

Is Gen Z as lazy as claimed to be? My grandmother used to lament “the younger generation have no idea what hard work is!”  While not looking directly my way, she left no doubt as to who she was talking about - me!Usually, her complaint meant I was not doing what SHE wanted at that moment in time. Of course, she never articulated what she wanted me to do until after the fact. A lack of clarity around the expectations of a job commonly causes a relationship breakdown between employer and employee. Recruitment, when done well, is expensive. It is not just the process itself but the “lost opportunity” of time spent to induct new people. In addition to training, new employees need background on the company, the services, the messaging to customers, suppliers, and the public. But bad recruitment is even more costly! A clear job description (JD) against which you can screen your prospective candidates is a crucial recruitment step. Workplace JDs may be non-existent, incomplete, or no longer reflect the employee’s role. How is a new recruit supposed to know what to do, or even what they signed up for, if the JD is not accurate?Why did I employ a Gen Z? It’s less about the age of the person and more about the job I needed filled. There were applications from incredibly talented individuals; however, most were over-skilled for the job. I needed someone keen to learn, who would enjoy the role for what it is, and who meets our company’s values.Enter my Gen Z applicant, a part-time student on a scholarship that demands a B+ average. That doesn’t sound lazy to me. Do I care that she is young? Not a jot. It’s an advantage in a business where technology rapidly changes, and youth often contribute new skills if you’re willing to embrace them!So, what makes my Gen Z different to other youth who supposedly “don’t know what hard work really is”? Nothing, except I’ve taken the time to be clear about expectations. We are taking time to SHOW what her we want, and know where to go, or who to ask, if she has any questions.I check in daily in the first week to make sure that she is comfortable with the speed she receives information. Next, I’ll check in weekly, then formally at four weeks before slotting into regular quarterly reviews to monitor progress. If things don’t work out with a Gen Z hire, ask yourself honestly if you’ve set them up to fail. Older hires tend to have experience behind them and can often anticipate requirements but it’s all new to Gen Z. So, if it’s not working out, which part of the process have you not completed? For more information and advice on employment and diversity in the workplace, give me a call on 021 665 013 or email [email protected]

It’s been a tough market for people looking to sell their house over the last few months, but there are positive indications of better times ahead, especially here in Central.According to CoreLogic NZ's monthly update, there are signs of stabilization in New Zealand's property market.Those signs include a reduction in price falls, an easing in listing numbers, and lower sales volumes. Although house prices continued to fall last month, the market fundamentals are showing resilience. Together with the stabilisation of mortgage interest rates that indicates a possible end to the country's extended property downturn. Realestate.co.nz data also shows that sellers are being realistic about asking prices. The gap between average asking price and median sale price has remained fairly constant over the past 16 years, suggesting sellers are meeting the market.While uncertainty remains high, confidence is growing that the market's downturn could end in the second half of 2023.  That’s influenced by factors like continued high employment levels, rising net migration, and the possibility of some investors returning to the market. Additionally, it's worth noting that the Central and Lakes areas in New Zealand are continuing to attract buyers from across the country due to their desirable lifestyle. Our regions offer stunning natural landscapes, outdoor recreational opportunities, and a relaxed pace of living, which has made them a popular choice for those seeking a change of scenery. With the property market showing signs of stabilization, it could be an excellent time for buyers to consider investing in these areas to enjoy the perfect lifestyle.I’ll keep you updated on property market trends over the year, but if you have any questions about buying or selling in the meantime, please get in touch.

At the risk of been tagged as a stereotypical accountant, I was fascinated by economics from an early age. What interested me is the economy we operate in is essentially behaviourally driven, determined by the day-to-day choices people make.Currently, interest rates – especially the speed with which they have increased recently – are impacting some people and the choices open to them.Circa 12 months ago, interest rates were less than 3%; now you are lucky if you can lock in a fixed rate at lower than 6.5%. Approximately 50% of fixed loan mortgages are due to refinance in the next 6 months, with most of those mortgage interest rates likely to at least double. For example, a $500,000 mortgage at 3% equates to an annual interest cost of $15,000 per annum, whereas a $500,000 at 6.0% equates to $30,000 per annum. This means the borrower having to pay an additional $1,250 of interest per month ($288 a week). That’s a lot.If you are one of the 50% of fixed mortgage rate holders about to refinance, then you need to be thinking about how you are going to cover such an uplift in interest expense sooner rather than later. If you leave it too late the options tend to be more limited.So, what options exist? I have been working through this with clients recently, with the following options being considered/implemented:1.  Budgeting / Cost Reduction: If you are going to need to pay a further ~$300 a week in interest as per the above example, then now is the time to have a good look at your spending habits and work out what can be cut from your daily spend/budget to bridge this gap. This may require you to make some material sacrifices for a period of time, but the sooner you look at where you can and can’t reduce spending the better prepared you will be for dealing with the increased finance costs.2. Sell Assets to Reduce Debt: If cutting back on day-to-day costs isn’t an option and/or won’t cover the full uplift in interest expense, then you may need to consider selling some ‘luxury’ items around the house or garage to reduce debt and thus the interest expense you need to pay.3. Additional Income: With unemployment at record lows, you may also want to consider picking up additional hours/income to cover any shortfall. 4. Downsizing: An absolute last option, but if after assessing the first two options you still are going to struggle to meet your finance cost obligations, then this may need to be considered.Judging by discussions I have recently had with people, not everyone is aware of the material increase in finance costs they are about to need to service when their fixed mortgage rolls over. If you fit into this bracket, now is the time to carry out a ‘warrant of fitness’ on your financial position and look to put a plan in place. If you need help, contact your accountant or financial adviser who will be able to assist. 

People will always remember how you make them feel!  That’s a good thing to remember when thinking about fostering positive customer interactions. If you're an employer, remember your employees are the face of your company. Treat them well, pay them fairly, and upskill their customer service via some of the many tools available so they can do their job effectively.Working for a company that treats you poorly, pays you poorly, and doesn't give you the tools you need to do your job effectively makes it pretty difficult to provide good customer service. Staff may present as feeling stressed, overworked, and, most importantly, underappreciated. In contrast, working for a company that values you, supports you, and gives you the necessary resources, means you will be happier, motivated, and ready to go the extra mile for customers.As an employer, even when everyone's under the pump, make time to show you value good work. Not being acknowledged is something that pops up time after time for us when talking to candidates about why they have left a role. And let's remember, constructive criticism plays a massive part in bolstering a person's career, skillset, and confidence that they are on the right path and doing the right thing. At EASI NZ, we highly recommend 3-6 monthly reviews with your team. They can iron out any niggles before they become bigger issues that can (we've seen it many times) lead to a resignation.If you're an employee, remember that you're a valuable part of your company. Take pride in your work and do your best to provide great customer service.Even in the best workplaces, poor customer service may occur when staff are challenged with a difficult situation.Identifying strengths and weaknesses of staff when faced with a demanding service scenario is important. For some people, empathy is second nature, and for others, maybe not so much. Confidence and interpersonal skills also play a major part. For people with neurodivergence or learning disabilities, that may add another layer where conversing and comprehension may need support and patience.Now, let's talk about the customers themselves. If you're a customer, it's important to remember that the person on the other end of the phone or behind the counter is a human being. They have feelings, emotions, and their own problems to deal with. No matter how irked you may feel in the moment, try and muster up some self-control and be kind. In situations where you are receiving unacceptable customer service, however, asking where to take your feedback is key. Business owners need to know about these situations to support positive change. In a nutshell, good customer service stems from acting thoughtfully. It doesn't take much effort to say please and thank you, smile, or to ask how someone's day is going. And yet, those small acts of kindness can make a big difference to how someone feels - and what they remember - about your service! 

If you are a property owner in the region, by now you will have received your new Capital Valuation (CV) from the Central Otago District Council (CODC). Your property has almost certainly increased in value, possibly quite significantly from your 2019 CV. What does this actually mean?An increased CV has two impacts on most people: it affects how potential buyers view the value of their property and it affects their rates. Let’s look at the market impact first. There’s a segment of buyers to whom your CV will provide a clear guideline as to what the purchase price of the property should be. These buyers want independent verification of whatever a real estate agent is telling them, so they pay attention to “objective” valuations. However, the CV is not always an accurate reflection of a property’s value on the market. They are a record of value at a snapshot in time – and our new valuations took that snapshot in October 2022 when they market was still firm. Hence, they might seem a bit high compared to what’s going on in sales today.CVs are also only a desktop valuation, worked up from recent sales statistics rather than actual inspections. The council doesn’t know what has gone on in the inside of a house. Home improvements or renovations that have not involved a code of compliance or resource consent will not be accounted for in these values. Which brings us back to rates – if you think your new CV is too high or too low, what impact does it have on you? Obviously, your valuation affects your rates. But that impact might be less than you think – a higher CV doesn’t mean your rates will automatically increase proportionally. Rates also depend on land use, your location, and what services the council offers – like waste management, library services and so on – in your area. Some of these components are independent of your property value.Ultimately, the sale price of your property will be determined by interested buyers, not by your CV. But if you feel that your new CV is way out in terms of value, you can challenge it by filling in this form before 21st April. If you intend selling your property in the next 12 months, and you feel the valuation is low, this might be worthwhile.

Investing is often referred to as a journey – one that became real for a lot of New Zealanders when KiwiSaver was introduced close to 20 years ago.Where we are on that journey will be different for each one of us.That’s because investing is personal. We each have our own goals and objectives, our own tolerance to risk, and our own sets of experiences and biases.At some point, KiwiSaver balances shift from small, to meaningful, to very meaningful. In a lot of cases, KiwiSaver becomes critical to the level of savings we will have when we retire.Our choice as investors is to leave it to chance, or to create a simple method of maintaining regular reviews of our position. Regular reviews give us the best chance of a successful investing journey.What should you consider when reviewing your KiwiSaver?1. Think about what’s important to you in terms of how your money is invested. Does it matter how and where your funds are invested, or are you just focused on the overall returns? Are you looking for lots of options and particular areas to invest your money in or is one diversified fund enough? Are you more comfortable with a large corporate provider or do you prefer the idea of a smaller boutique provider? How important to you is the information they provide and the way they provide it?2. Think about risk and how comfortable you are to see your balance move around. This will be partly determined by what stage of life you are in. Less risk is prudent when considering a first home purchase or if you are close to retirement but is probably not a good idea when you have 40 years of investing ahead of you.3. Choose a fund provider. It’s vital you select an appropriate one, and you get value for your money. In other words, as well as all the considerations above, fees and performance should influence your decision.4. Finally, you should be revisiting this assessment process at least once a year. We believe by measuring, monitoring, and managing your KiwiSaver, you may help your balance become even more meaningful.Clearly there are multiple factors to consider when reviewing your KiwiSaver, but you don’t have to do it alone. We are always happy to answer any questions you may have. Our KiwiSaver Advice service has been set up to enable you to access our experience, and we have put together a process to make this as straightforward as possible.So, get in touch if you want to make the most of your investment journey.

Hi and welcome to my first advice column for The Central App. I’m Tim, a partner at BDO Accounting based in Alexandra (although I service clients across the Central Otago region). A born and bred Southlander, after a decade away overseas ‘continually learning,’ I have returned to my lower South Island roots.I met my wife Kelly – an Aucklander who doesn’t have the box at Eden Park but does drink Speights! – at university. We have two young daughters, Sophie (9) and Emily (7), and I consider myself extremely lucky to raise them in paradise.As an adviser, I’d like to make this column topical, relevant, and useful. I want to avoid accounting ‘jargon’; instead, I would rather comment on topics or areas of interest to you the reader. If there is something you would like me to address, please email me and I will look to cover that topic.This column is primarily about introducing myself to you, but I would also like to make an observation about local conditions. There appears to be a real movement of people occurring at present out of the big cities and into the regions, and Central Otago appears to be a large winner in the people movement trends. NZ statistics confirm that our region is the second fastest region growing in terms population size behind the Selwyn District. While such movement can put pressure on existing local services and housing stock (most likely keeping our local planners awake at night…), I also see it as an incredibly exciting time for the region. Such population growth should continue to drive prosperity in our region over time – I am calling it the new ‘gold rush.’ I am intrigued to see how our region will look in 5 to 10 years’ time based on current forecasted population growth statistics. Furthermore, if the country is to incur some form of recession over the next few years as analysts are predicting, then such population growth should insulate us somewhat. Let’s hope so; now is the time to be cautiously optimistic in my view.Finally, here’s the one bit of accounting speak for this article. As the deadline to file your 2022 tax returns fast approaches, if you haven’t already done so, please contact your accountant. Time is running out to complete yours and avoid any late filing penalties!And in relation to the end of the current financial year (31 March 2023), if your business holds stock >$5,000 please make sure you do a stock take at the end of the year. If you have any bad debtors, please ensure they are written off before 31 March 2023 for them to be deductible in that financial year.  If you have any queries, you can always speak to your accountant, or reach out to me and we will look to resolve!

We currently face a tough market to attract employees, so retaining staff we acquire is crucial. It is important that you cast the net as widely as possible when recruiting. To do so successfully means taking stock of what your current staffing looks like. Consider whether any changes might be needed to ensure your workplace is welcoming to all.Most business owners and managers will be driven to create a workplace that is welcoming. To achieve this, reflect on how you would ensure this is the case for someone who is, in one way oranother, different to the majority of your employees.This could include differences in gender, age, sexuality, ethnicity, family situation, neurodivergence, or disability, to mention a few. While, hopefully, no one would set out to make someone feel uncomfortable or unwelcome, workplace norms that have developed over time may unintentionally have this effect.For example, your workplace might have a majority of single, 20-somethings employees without family commitments. Then, you employ a 35–40-year-old single parent with young children.Everyone is friendly and welcoming and might even be understanding that the new employee requires more flexibility in working hours or location. However, what if all the opportunities for staff to bond take place straight after work or staff functions are held in the evenings? The new employee might find it hard to participate in these events and end up feeling excluded and unable to bond with the rest of the team.So, what to do? Certainly, not everything will suit everyone, but a simple first step is to be aware of staff differences. In this situation, you could let the person know that you are planning a staff function and would love this employee to be involved. Ask them how you can help facilitate that. It might be they have a friend who will help them out if there’s time to plan, or you could contribute to a babysitter, or even arrange a lunch function during work hours so that they are included.Whatever the differences might be, the key is to be aware of diversity but not afraid of it. Our country is diverse and therefore a diverse staff is more likely to be productive and connect with the community and a wider customer base.Take stock of your staff, aim to hire for diversity, but when you do be mindful to ensure you are being actively inclusive. If in doubt, ask them, there’s no need to shy away from it –most likely if they are the only person in the workplace that is a man, gay, from a different ethnicity, religious etc. they will be well aware of it. By opening up the conversation you are showing that you want to make this workplace their place, too, and that you take inclusion seriously and are willing to walk the talk.For more advice on how to actively encourage diversity and inclusion at your workplace, get in contact with the team at EASI NZ.

Two months into the year seems like a good time to look at how the local real estate market is faring. The news for Central Otago is generally positive, with the latest statistics (January 2023) from REINZ supporting the gut feeling of local agents that we are doing better than many other places.The median house value nationally declined 13.3% in January 2023, but that is reduced to a 9.3% decline if we exclude Auckland. While Otago as a whole dropped 11%, in comparison, Queenstown/Lakes area median values declined by only 1.6%.The market in our area has softened, but nowhere near as much as in other parts of NZ. Overall, the figures tell us that NZ has become a land of two markets: urban centres that are experiencing a larger downturn, and rural areas where median values are moving backwards more slowly. That slight softening is having an impact, however.Sales in Central/Otago Lakes were down 15.4% in January 2023 compared to January 2022. Last year 15 houses sold in Alexandra/Clyde in January; this year it was eight. In Cromwell, in January 2022 there were 37 sales compared to nine this year.Nationally, new listings are down 16%, and it now takes 53 days to sell on average, 16 days longer than in January 2022. Otago’s median price for January 2023 had dropped 11.6%, but that includes Dunedin – one of the cities feeling the pinch. Auckland, meanwhile, has seen the median price plummet by 21%.Statistics like these are useful, but they don’t tell the whole story – in part because they lag real world trends by a month or so. On the ground, the feeling here in Central is that while there might be a bit more softening to come, we should be pretty well protected from any major real estate downturn.There are a few reasons for that:Urban flight to this region has remained steady since Covid19 took hold. We expect that to continue, especially with the adverse weather events up north. The Otago economy is holding up well and that attracts people.The job market is still tight. Even as interest rates or mortgage refinancing bites, workers are in such demand here wages will need to compensate to retain people. Demand for holiday homes is still high from our traditional markets of Dunedin and Southland, helped by a beautiful summer.There’s still a heavy demand for rental accommodation in our area, but we have recently heard that a lack of management and cleaning staff has some B&B owners considering reverting back to long term rentals.In February, which we don’t have figures for yet, there was a noticeable increase in viewings and multi-offers and it feels like a bit of momentum is gathering. Good, well-presented homes, especially lifestyle blocks, are in demand.As always, if you see something you love, snap it up – though it will be a distinct advantage if you are a cash buyer. If you want any further information, as a buyer or seller, get in touch with us at Tall Poppy. 

We hope that you’ve had the opportunity to take time out over the summer and spend it with friends and family.Recruiting has been a challenge in recent years, and 2023 has already seen some enormous demands put on employers with the migrant wage due to rise on February 27th from $27.76 an hour to $29.66.Under the new rules, migrants will be required to meet the wage threshold in force at the time they apply for their visa. If the wage threshold increases between the job check being approved and the application for the migrant visa, the remuneration may need to meet a higher threshold than what was approved in the job check pay range.For example: A job check is granted on 15 January 2023 based on the current median wage of $27.76.If a candidate is offered employment and applies for an Accredited Employer work visa before 27 February 2023, the rate must meet at least the median of $27.76 which is the median wage in the immigration system at time of application.If the candidate applies for an Accredited Employer work visa on or after 27 February 2023, the new rate of $29.66 will apply.Unfortunately, this has also put pressure on finding affordable local staff because no one wants to do the same job but earn less money than the person next to them.So, what do we do if we can’t afford to pay everyone in the business at least $29.66 an hour?Fortunately, studies show that job satisfaction is not just all about the money. The top reason for leaving (or staying) with a business or organisation is actually culture. What’s it like to work for you?A strong boss or manager can lead staff while creating an enjoyable place to work and a positive culture through various means:Provide transparency in your business to your employees. Line up jobs with strategic business targets.Clearly identify people’s tasks and responsibilities. Show recognition when someone does a good job and reward them for it.Identify career progression and pay scales.Actively participate in succession planning.Involve the team in business processes such as business continuity planning.Provide training opportunities that meet both your business requirements and their own personal aspirations. These are all essential elements of culture and provide additional reasons why people might want to work for your business.It’s also time to stop offering people jobs and start offering them careers. Opportunity can be a two-way street and businesses generally benefit from investing in their staff, whether growing management and leadership skills or providing access to learning new sets of skills that the business can use going forward.Many businesses in Central Otago can provide workers with opportunity over money. Now is the time to tell people why they should be working for you and what you will do for them.Employment is a partnership.  If a candidate or employee is only interested in the money, ask yourself if they’re really the right fit for the business or whether you are presenting a not attractive enough opportunity.If you’d like a chat about recruitment, linking job descriptions to company strategies, culture, pay-scales, or anything else relating to human resources, please give Cherilyn a call on 021 665 013.

If you’ve been paying attention to residential real estate activity in Central, you will have noticed that Clyde is consistently in demand, with prices reflecting that popularity.Seven years ago, an entry level property in Clyde would have cost between $250 and $350 thousand. At that time, holiday homes outnumbered locals. Neither of those hold true today.“We just want Clyde” is a familiar refrain to agents who try to coax buyers to look at the wider district.What is it about Clyde that has driven its renaissance? Buyers love the historic feel in the town. The retention and refurbishment of the old buildings offers an appealing look. The commercial developments in Sunderland and Holloway Streets have retained the old timey feel but also offer a modern vibe. The clustering of eateries and tourism-driven businesses give the town a buzz.The size of Clyde is also a feature of its popularity. Its small enough to be able to walk everywhere, but large enough to have good facilities. Thriving clubs – tennis, bowls and golf – and an active arts community attract buyers, as does the new hospital.Geographically, its proximity to the lake, and its position at the start of the rail trail and the end of both the popular Millenium track and the new Dunstan trail also appeal. In fact, the popularity of the bike trails means tourists who used to focus on Queenstown and Wanaka are now coming to Central Otago. Consequently, our housing market has been exposed to a whole new audience.Retirees, in particular, are attracted to the area. Those buyers are often holiday makers who have been coming to Clyde, perhaps staying at the campground, for many years and are ready to make a permanent move.But there are only so many properties available in Clyde. Its spread is geographically limited by the river and the hills with Mutton Town being the only direction it can really grow in. Sunderland Park at the south end of town has 90 sections ranging upwards from 400 square metres. Aurum on Clutha, the new retirement village being built in the same area, has some units underway and they will hopefully finished by winter. Other than these new builds most of Clyde’s turnover is in existing homes.When demand outstrips supply prices rise, and Clyde consistently outperforms Alexandra by 10-15%. So, if you are thinking of buying in Clyde, you need to be quick off the mark. Turnover is steady even in today’s real estate market. If you want any further information, as a buyer or seller, get in touch with us at Tall Poppy.

How often do we consider the path we took that took us to where we are today – all the twists, turns, blocks, bumps, reversals, and pivots? What was modelled to you, and what were you exposed to that moulded your career? Was it your family, a teacher at school, or the careers person that met you for 5 minutes? Perhaps they recommended a course you didn’t feel passionate about, or even misguidedly told you that you wouldn’t be able to do the one thing you had your heart set on? As we wander into 2023, as much as we might try to avoid New Year resolutions, it’s hard not to reflect. What would or could we have done differently over the last year or even years? How do those hypothetical scenarios play out in our imaginations?Research tells us that we spend on average a third of our lives at work. So, with that in mind, are you truly happy with where you are today, and, more to the point, do you really want to keep doing what you are doing?The good news is it is NEVER too late to change things up, get excited and learn. There’s even free help from the Government too!! Funding up to $12,000 is available if you fit the criteria. This can be for one year of study or two years of training through a tertiary education organisation. A big question to ask yourself is what it is that you want.An amazing salary is of course a motivating factor, but what if you didn’t have to worry about money and could have just pure job satisfaction? What would you be doing? How would it feel, and what would that look like? Remember the pithy motivational ‘Find a job you enjoy doing, and you will never have to work a day in your life’ quote!Perhaps it is time to get serious with yourself and be your own life coach. Ask others questions about their job satisfaction and career dreams. Their answers could shine a light on some interesting themes as well as spark some thought-provoking conversations.  At EASI NZ we are always happy to chat with you about what options might be out there, especially about apprenticeships that are a great way to learn while not accruing the dreaded student loan.Many young people are getting ready to head off into tertiary education this time of year, feeling the pressure to forge ahead (but also sometimes floundering) to be ‘successful’. Consider offering them your valuable lived experiences and stories. You could also think about joining them as you take a new turn on your own learning pathway or career change.Whatever 2023 brings, the team at EASI NZ hope that it’s a happy and healthy one! Also, you could always take up Bee Keeping – there’s a funded course for that! 

Selecting an agent to work with when you sell your house is a big decision. This month, as the summer market opens up, we look at some things to consider so you feel comfortable with the person you choose.In my experience, there are five main criteria clients should apply when choosing who will represent them.1. RelatabilityIt’s easier to work with people you like. People want to feel that they are being listened to and that there’s rapport between themselves and the agent. You might talk to several agents about potentially taking your listing, but you will probably connect with one or two above the others.Sometimes clients prefer to deal with one gender or another, but mostly it boils down to working with someone you think you will get along with.2. Knowledge of the areaYou should make sure your agent has a good knowledge of the local market and current conditions. Ask them about their experience in the area and to give you an overview of the current housing market. Drill down to make sure they know your spot in particular. 3. The right skillsMake sure the agent you choose is clear that they are vendor focused and that they have the ability to negotiate successfully on your behalf. Ask them why they recommend a particular method of sale. Make sure you feel comfortable that they know their stuff.4. TransparencyAsk for property appraisals and information on fees and commissions. Check whether marketing costs are included. 5. ReputationLast, but definitely not least, consider the agent’s reputation. Reputation is a mixture of integrity and success. The majority of people choose the top selling agents in their area, data you can get from online portals like ratemyagent. Search your local area and you’ll see feedback on various agents from past clients.The Real Estate Authority keeps a public register of agents. You can use this to check agents’ licences and find out if any have had a complaint upheld in the past three years. Referrals are also a good way to evaluate an agent. Ask around friends, neighbours and family to find out who does a good job and, perhaps, who doesn’t. In small towns like we have in Central, a good reputation is crucial.Ultimately, don’t feel like you have to take on the first agent you talk to. Selling a house is a major event and it pays to shop around to find the right agent for you.

The promise of a new year brings with it the possibility of a fresh start, new beginnings and new resolutions that may or may not last further than the 2nd of January! It’s also a busy time in recruitment as candidates start to re-think their priorities and whether they feel valued in their current jobs.Do you think you have a good handle on what your team are looking for?Maybe they want a promotion or pay rise, a change in direction with their career, or maybe (I hope not) they’re just not feeling appreciated enough to come back in the New Year.There are few things in life that provide a bigger dopamine hit than being told you’ve done a great job, reached your targets in good time, or are a great team player – any compliment about what you’ve done well at. Sharing gratitude at the end of the year costs nothing compared to not letting your people know they’re appreciated – that could potentially cost you a lot more in recruitment, stress, and lost productivity.So, how can you let people know they are genuinely valued, appreciated and their hard work has been noticed?Studies consistently show that Millennials and Gen Zs prefer real time feedback (good or bad). Gen X’s seem much more relaxed and will happily wait for their 3 or 6 (hopefully not 12) month performance review. At the end of the year, though, acknowledgement should be for everyone at all levels.Let’s look at ways to celebrate staff and consider if they hit the spot.The Christmas staff party Pros:·       A blanket approach that includes all team members·       A chance to cut loose a bit and for team members to get to know each other a bit better·       Can be done and dusted in NovemberCons:·       Can be costly·       Inebriated team members saying exactly what they think may not be great·       Not everyone’s cup of tea/idea of a good time (they might just prefer the $’s)·       Individuals may feel it’s impersonal and indentured to attendMorning Tea with Secret SantaPros:·       Less chance of inebriated misdemeanours occurring ·       Cheaper option·       Element of fun with gift swapping/receiving Cons:·       Effort to go out and buy a gift that may possibly end up in landfill·       Embarrassment of realising you might have completely misread a person and got them a gift that they hateHamper or HamPros:·       Something that can be tailored to each individual·       An actual useful gift of food when the cost of living has reached new highs·       Something team members can share with their familyCons:·       Having to find out which team members are vegetarian, vegan, gluten free, Keto, Paleo or have various food allergies·       …it’s hard to think of any others so it seems this may be our preference!It does make you wonder, though, considering the effort and cost, if just a plain and simple handwritten Christmas card with sincere and thoughtful thanks for each individual – and a gift voucher, let’s not be too bah humbug – might surpass all of the above. Take the time to be thankful this Yuletide and you might just be surprised at what comes back your way. Hopefully bucket loads of dopamine wrapped in red satin ribbons.

Back in the day, a client would have choked on their weetbix if I’d advised them to spend some money on staging their home for sale.  But these days, staging - where a professional furnishes an empty property – has increased in popularity as it is something that brings results, particularly in a buyer’s market. Emma Maddox from Eye for Style in Cromwell stages homes locally and in the four years she’s been running her business staging has become the norm, rather than the exception. Staging is most useful for already-vacated houses and new-build properties that the developer or builder is trying to sell. Hiring someone to add furniture and furnishings to an otherwise empty home offers several benefits. The main advantage is that it makes a house feel like a home. Potential buyers get a much better sense of life in a staged home than they do in an empty house. They can see how rooms might be used, where furniture can be placed, and how the home feels. Emma tells me that buyers now expect properties to be beautifully presented. First impressions count and an attractive staged home will definitely leave a more positive impression than an empty shell. In a competitive market, sellers need to stand out from the crowd. Staging will cost the seller somewhere between $1500 and $3000 depending on the size and layout of the house. It’s not an insignificant amount of money, but it is often money well spent. While it’s hard to quantify how much staging affects the sale price, anecdotally it might lead to an increase of $10,000 to $15,000 depending on the house’s value. Where staging really counts, though, is saleability. A staged home is much more attractive to buyers and in a tough market for sellers that can mean the difference between a quick sale and languishing on the market for months.     

Pretty much everyone knows someone who is on a hospital waiting list these days. That’s unsurprising when in May of this year 27,000 people were waiting for planned non-acute treatment, up from just 8000 pre-Covid. We have also all seen the news stories about how much pressure the public health system is under across the board.And heard of the cases where sick kiwis can’t access the best treatment through Pharmac and instead have to rely on fundraising pages and the kindness of strangers to lengthen their lives. That’s why health insurance should be one of the main insurances you consider. At C&R we work with four health insurance providers: Southern Cross, NIB, Acura and AIA.That means we can give you a range of options. Most providers start with a base hospital or surgical cover plan. Then you may choose to add on a specialist option which will cover things like scans and physiotherapy. Further options include day-to-day doctor’s visits, dental cover or optical cover. Some insurers also offer coverage for non-Pharmac treatment. Southern Cross does this for cancer, for example, while NIB will cover non-Pharmac funded treatment for any conditions.Many of our clients don’t realise that insurers can also cover pre-existing conditions. There may be restrictions, such as a period of time needing to elapse, but individuals will be looked at on a case-by-case basis. Being fully covered, even for something you have experienced before, can give you real peace of mind.Private health insurance is also an excellent option for employers. Many insurers offer group schemes, so if you have 15 or more employees you can buy a package that covers your staff and their families. Some people like to prepare for health emergencies by self-insuring – that is, they put aside money to save for when they need it for a health procedure. While that method can be effective for lesser health issues, say where you need a small procedure or extensive physio, it might not be enough if something major happens. A single valve heart replacement can cost up to $80,000; a new hip or knee up to $28,000; and a hysterectomy up to $25,000. It takes a while to save for those rainy days!Clients sometimes also have the perception that insurers don’t often pay out. Statistics from the Financial Services Council show, however, that health insurers in NZ collected $434.2 million of Health Insurance Premiums in the 3 months ended 30 June 2022 and paid out $347.2 million of claims in the same period. That’s $800 of claims paid for every $1,000 of premium received which is a pretty good record of payment.So, if you think it’s time you stopped being in the 78% of Kiwis who don’t have health insurance, come and have a chat to me at C&R about your options. After all, what price health? 

The difference between an employee and a contractor has long been a contentious issue.  Could the recent ruling against Uber in the New Zealand Employment Court see a shift to a more robust and perhaps clearer distinction?The case was brought against global ridesharing giant Uber by 2 unions on behalf of 4 contractors who argued that they were in fact employees of the company. The Court found in favour of the drivers and in doing so looked beyond what was simply written in the agreement between Uber and the drivers and, instead, into the true nature of the relationship.  At this stage, the case will likely be appealed, and the decision will only apply to those four drivers but there are two reasons why we should take note of it. Firstly, the Judge presiding stated that the case “may well have a broader impact, particularly where, as here, there is apparent uniformity in the way in which the company operates and the framework under which the drivers are engaged.” It also, added a new consideration to the test applied under the Employment Relations Act when assessing the nature of the relationship – that of “in whose interests is the work done?” – meaning this could be applied to any future challenges. Secondly, the Government is currently undertaking a review on Contractor-based business models and may give some consideration of the outcome of this case in deciding any future policies or legislation. Whilst, of course, none of this will happen overnight, it is perhaps a wakeup call for businesses to look at their business model and consider the true nature of their relationship with contractors. For some this will be genuine; however, there are some sectors where the contractor model is used almost by default but where, even if the current tests were applied, let alone a more robust system, they might find that their workers are their employees.If a contractor relationship turns sour and they challenge the nature of the relationship you could stand to be liable to back pay all the entitlements due to an employee and you could be found liable to pay any outstanding tax they may owe. Not to mention the time and stress of having to go through this process.At EASI NZ we work alongside businesses to support them in deciding what the appropriate hiring model is for them and can help you with the paperwork to reflect this so that you can create a relationship that is based on fairness, clarity, and integrity. An employee is entitled to minimum statutory rights as laid out in the Employment Relations Act 2000, Holidays Act 2003, Wages Protection Act 1983 and Parental Leave and Employment Protection Act 1987 to name but a few.A contractor has none of these rights and is subject to commercial law. An employee has a “master/servant” relationship, and this includes a level of control by the employer over the employee’s day-to-day tasks. A contractor “is not a servant” of the organisation and is instead focused on “service outcomes”.The review of this case included the level of “control” that Uber exercised over their “contractors” in reality, in whose interests the work was done (i.e. Who would gain the most benefit) and the extent to which the drivers were integral to the business.If you need help to get your employee or contractor paperwork up to scratch contact us at [email protected] or call 021 665 013!

Hang around the BBQ long enough and you’ll soon find that almost everyone has something to say about the real estate industry.Popular misconceptions around the difference between flat-fee agencies (Tall Poppy is one example) and commissions-based agencies abound, so let’s bust some of those enduring myths!Myth 1: “You get lower service when you pay a lower fee.”No surprises that this myth prospered when the first low-fee companies arrived in NZ. It’s totally understandable – most people equate higher price to better quality. The NZ Real Estate industry, however, was due for a shake up so when different fee structures started appearing it was positive for home sellers.Now most people realise that you can get great service from companies offering flat fees.We at Tall Poppy know this because we run regular customer satisfaction surveys, have loads of repeat business and often have our customers refer others to us.Myth 2: “With a fixed fee, the agent won’t bother getting me the best price.” Um. No. Agents are working for you, the client. Here at Tall Poppy we have our own system for managing offers designed to bring in the best price for our clients.But if you really believe that fees need to be incentivised for an agent to work for you, we’ll happily work out a fee structure you feel comfortable with.Myth 3: “Low fee real estate companies won’t last.”That’s what the traditional real estate companies were hoping! However, several low fee firms have stayed the distance since breaking into the NZ market.Tall Poppy has been around since 2012 and continues to grow.There’s a couple of other enduring misconceptions left over from the days when there were only a handful of traditional agencies around. Let’s tackle them as well.Myth 4: “If you don’t have an office, you’re not a ‘real’ real estate agent.”Hopefully this misconception has had its day with people discovering, thanks to Covid that you don’t need to go into an office to work. Innovative real estate firms, like Tall Poppy, realised this before the pandemic.We have a centralised national office that supports agents around the country – which keeps agents’ overheads low and your costs down.Myth 5: “I need a team of agents working for me.”While having a whole bunch of agents used to be the norm, nowadays it is much more common to work with a single agent. Having one contact person who takes all the responsibility for your sale gives you a much more personalised experience.An agent will always work with other agents, from within their own company and from competitors, if it means getting the best price for your house.If you are choosing an agent for your property, make sure you do extensive research about how the agent, agency and fees will work for your situation.There are plenty of resources on the internet, including commission calculators, and you can talk to different agents.Just don’t believe all the stories you hear around the barbie!