Auckland sellers pull out the stops: buy a home, get a Tesla! An experienced property professional explains the thinking

An advertisement offering a free Tesla with a home purchase Source: NZ Herald

 

Yesterday (17 November), a story about a free Tesla with a home purchase made the lead headline on the New Zealand Herald website, immediately sparking lively online discussion. Some said: “What a great deal! Buy a completed home and get a car ready to drive away — a happy life in one easy step!” Others said: “Agents really can do anything to sell a house. If it gets the property sold, they can even conjure up a Tesla that normally takes more than 6 months to arrive!”

 

Another recent Barfoot & Thompson property listing also caught our attention. The agency said that anyone who purchases a detached home in the development at 20 Williamson Avenue, Belmont, will receive a highly sought-after Tesla Model 3 electric vehicle.

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Over the past two years, whether house prices were at their peak or in a trough, we have regularly heard news of inventive property sales promotions.

 

Last year, an Auckland couple bought a townhouse in Three Kings and were rewarded with a year's worth of free smashed avocado on toast.

 

The idea reportedly came from real estate agent Ben Ryken. Before listing the three-bedroom townhouse, he considered offering buyers free toast every Sunday for a year at nearby café Just Like Martha. The publicity proved unexpectedly effective.

 

Offering a luxury car with a house is not without precedent either. According to the New Zealand Herald, a Remuera seller came up with an unusual attention-grabbing offer two years ago: whoever bought his property would receive a Ford Mustang GT sports car worth NZ$40,000 for free.

 

Some believe Auckland's property market is experiencing a rare trough, prompting a succession of unusual sales tactics. Others believe the property market will continue to boom, that housing demand in New Zealand will once again outstrip supply, and that prices could soar again…

 

Whatever the case, YIJU believes that giving buyers a real benefit is always a good thing.

 

As an enthusiastic supporter of electric vehicles, I have been following New Zealand prices and delivery waiting times for Tesla and several other brands. According to Tesla's New Zealand website, the base Model 3 retails for $74900. Even after the $8625 government rebate, it still costs $66275 — certainly a substantial price.

Meanwhile, estimated delivery has been pushed out to the period from month 2 through May in 2023. This means that even an order placed now would require a wait of more than four months before taking the car home.

 

So when can buyers collect the car that comes with the house, and why offer such an expensive vehicle to sell a property? What are the agent and seller trying to achieve? Is there more to the story?

 

With these questions in mind, YIJU promptly contacted the listing's sales consultant, Suzy Wang, for an exclusive explanation:

 

Q: What prompted this unusual “buy a home, get a car” sales approach?

 

Suzy Wang：The motivation is actually very simple: the developer wants to recover funds within a certain timeframe. Rather than continually cutting prices, we believe we should add value. We hope this distinctive sales approach will achieve a win for all three parties. Buyers receive a premium car that complements the home, without needing to pay cash for a new vehicle, while the bank finances the mortgage on the house.

 

I think this is an ideal way to achieve three goals at once. The developer recovers funds promptly, the agent achieves a sale, and the developer covers the car's purchase cost, giving buyers a substantial, tangible benefit.

 

Q: Some people have questioned whether this strategy is being used because the homes are difficult to sell or have defects. Is that the case?

 

Suzy Wang：Quite the opposite. The project we are marketing has been successful: 1 home has already sold, and another is under contract. The current opportunity is a rare one.

 

These properties also offer the type of layout particularly popular with Chinese buyers. Each is a detached, freehold home with a double garage, a luxurious private lift and a full-sized kitchen designed for entertaining, making it ideal for family gatherings. The homes face north, enjoying exclusive Waitakere views and abundant sunshine. They also have private access to Belmont Primary School and nearby parks and green spaces. Each luxury home includes four bedrooms, four toilets and three bathrooms, meeting the whole family's expectations for high-quality living space.

The property's floor plan

 

Q: What has the market response been like? How long will buyers have to wait to collect the car?

 

Suzy Wang：The market response so far has been very positive, with strong interest from both European and Chinese buyers. The fact that the Tesla is available immediately, without a wait of more than 4 months, is particularly attractive. Prospective buyers attending open homes have been very excited. An opportunity to receive a luxury car with a home purchase does not come along every day.

 

Of course, we believe buyers will make the most rational purchasing decision once their own circumstances and other home-buying requirements are in place. With buyers in mind, the white vehicle we have arranged is due for collection in November. If buyers want a different colour or additional features, we can help them place a new order. Ultimately, we want our clients to be completely satisfied with the products and services we provide. Anyone interested in this development is welcome to contact me to arrange a viewing.