In reply to comments by Suzanne Bailey, I have bought (not brought) and sold a small number of properties over the last 40 years and have always found the real estate industry interesting. I have been a licensed agent in NH twice and NZ once with limited experience in either place. As for agents versus owner sales they are a huge variable. I had one place for sale through an agent years ago for $10,000 and no luck so increased the price to $19,000 and sold it for $14,000-market can be crazy. My last place was appraised by an agent (from the local area) for around $XXX with the reasons outlined in a nice pamphlet, but I thanked the agent and marketed it myself for $XXX plus $100,000 and sold for $XXX plus $50,000. I did put it on Trade-me for $49.95 at that time but no luck from there and my other advertising costs were $3.00 for a nice ‘for sale' sign I put on the lawn.
As for auctions, I have found them to be the agents dream as large advertising costs are paid for by the seller whether the property sells or not. Tender seems to be the next favourite for similar reasons. I don't know how properties can go stale (real estate speak) as the market is fluid with new people looking all the time. Agent versus owner selling is a personal choice and hopefully will remain that way.
John MacKinnon, Katikati.