Media Marketing Strategy

The Real Estate company, Bayleys Auckland and Bayleys Orewa are marketing a mortgagee sale of property at Gulf Harbour, through a media release. This innovative marketing tactic may be of assistance in maximising investor interest to ensure a decent sale price. This is believed to be an unusual process and the approach indicates a ‘fire sale’ situation to maximise interest in a mortgagee sale. This action demonstrates transparency, if in fact the property is auctioned with a robust marketing programme.

In relation to the mortgagee sales being conducted privately, a lack of expected disclosure seems to be occurring for investors who are losing their properties/homes as a result of being BlueChip investors.

These issues need urgent intervention. .

In one case known to the EUFA organisation, Lower Hutt law firm Gibson Sheat, requested the real estate company keep “strictly Confidential” details of GE Moneys (Mortgagee) position, in regard to a proposed mortgagee sale, not be “disclosed to anyone who may be interested in the property”.

The property in question, belongs to a senior couple who are trapped in the BlueChip saga which is located at a prime lakeside location. In communications with the real estate company Gibson Sheat they state -

“GE is considering completing a private mortgagee sale”

In March 2009 EUFA wrote to the REINZ pleading for a boycott on the BlueChip Mortgagee sales, however no response or acknowledgement by the REINZ has been received.

Coordinator of EUFA said from Tauranga today “ Private Mortgagee sales of properties, in prime locations, are very concerning to investors, due to the secrecy that surrounds them and we will be discussing this very issue at a BlueChip investor meeting in Tauranga this coming Wednesday”

It is reasonable to expect that Lawyers and real estate agents have a responsibility to act with integrity and ethics. Any defence of “we are just doing our job” when carrying on with mortgagee sales, while investigations are taking place, has serious implications.