Understanding how Expected Sale Price thresholds impact your listings

with the new Platinum Assist rate

We’re excited to introduce the new Platinum Assist rate for marketing lower value properties in the Residential for Sale and New Homes category within your office’s zone, exclusively for Platinum Partners.

Starting 1 December 2024, our new pricing structure, based on the property’s Expected Sale Price (ESP), will provide you with reduced marketing rates for properties with an ESP of or below -the Platinum Assist threshold amount applicable to your office’s zone, better aligning marketing spend with your vendor’s property value.

More affordable marketing options

Lower-value properties, like 1-bedroom apartments, will soon have a marketing option that aligns more closely with their value with the new Platinum Assist rate*.

What is an Expected Sale Price (ESP)?

The Expected Sale Price (ESP) is the price you provide when listing on Trade Me, which helps filter search results.

This might be labelled differently in your CRM, such as ‘Price’ or ‘Search Range’. If you enter a range (e.g. low and high values), we use the median as the ESP.

The ESP you provide must be accurate and realistically reflect the current market conditions.

From 1 December 2024, the ESP will determine the rate your vendor is charged for Platinum packages. The process of creating a listing remains the same.

How to determine the rate your vendor will pay

The rate is based on the property’s ESP depending on your office’s zone:

Zone 1 threshold:

$700,000 or less: Offer the Platinum Partner Assist rate.
Over $700,001: Offer the Platinum Partner standard rate.

Zone 2 threshold:

$550,000 or less: Offer the Platinum Partner Assist rate.
Over $550,001: Offer the Platinum Partner standard rate.

Zones 3 & 4 threshold:

$400,000 or less: Offer the Platinum Partner Assist rate.
Over $400,001: Offer the Platinum Partner standard rate.

When can you access your new rates?

Your updated rate cards will be available in OneHub in October 2024.

These rate cards will show exactly what you'll be charging your vendor. Look out for an email in your inbox on 31 October 2024 with access instructions.

How will I be invoiced?

You will be invoiced based on the ESP provided at the time of creating or re-listing the listing.

Editing the ESP after the listing is created will not alter your invoiced amount.

Detailed breakdown of pricing scenarios

We’ve included a comprehensive guide on various situations below.

Creating a listing

ESP above threshold: When you create a listing with an ESP above the threshold applicable for your office’s zone, a Platinum package is auto-applied, and you'll be invoiced the standard Platinum Partner rate based on your office’s zone.
ESP below threshold: When you create a listing with an ESP below the threshold applicable for your office’s zone, a Platinum package is auto-applied, and you'll be invoiced the Platinum Assist rate based on your office’s zone.

Re-listing

ESP above threshold: If you re-list with an ESP above the threshold applicable for your office’s zone, you’ll be invoiced the standard Platinum Partner rate based on your office’s zone.

ESP below threshold: If you re-list with an ESP below the threshold applicable for your office’s zone, you’ll be invoiced the Platinum Assist rate based on your office’s zone.

Re-listing with the same ESP: If you re-list with the same ESP as before, you'll be charged the respective renewal rate (standard Platinum Partner rate or Platinum Assist rate).

Re-listing with a changed ESP: If you re-list with a changed ESP, you'll be invoiced the renewal rate applicable to the updated ESP.

How ESP changes impact your invoicing

Switching between a low and high ESP when applying a new package won't affect your eligibility for Platinum Assist pricing.

Here's how the changes will impact your invoicing:

From an ESP below the threshold to an ESP above the threshold: If you change the ESP from below the Platinum Assist threshold to above it when applying a new Platinum Package, you’ll be invoiced the Platinum Assist renewal rate (50% off the Platinum Assist rate).
From an ESP above the threshold to an ESP below the threshold: If you change the ESP from above the Platinum Assist threshold to below it when applying a new Platinum Package, you’ll be invoiced the standard Platinum Renewal rate (50% off the standard Platinum Partner rate).

Why is it important to be accurate with your ESP?

ESP is used to filter search results, so accurate entry ensures your listing reaches the appropriate audience.

What if you entered the wrong ESP?

If you realise the ESP is incorrect within 4 hours of listing creation, you can withdraw the listing for an automatic refund.

After 4 hours, you can edit the ESP, but the package fee won’t be recalculated.

Are there any changes to the invoices?

Platinum packages with an ESP below the applicable Platinum Assist threshold will include descriptions like:

“Residential Sale - Platinum Package (low expected sale price).”

Preparing for the new rates effective 1 December 2024

Update marketing budgets/schedules for vendors of low-value properties with an ESP equal to or below the Platinum Assist threshold amount applicable to your office's pricing zone.

Ensure new Platinum Assist price points are included in invoices for applicable vendors.

Inform all agents about the new Platinum Assist prices and eligibility criteria.

Source:

*The Platinum Assist rate is available exclusively to Platinum Partners on Trade Me Property for the Residential for Sale and New Homes category where the expected sale price for the property is: for offices in Zone 1: $700,000 or less; for offices in Zone 2: $550,000 or less; for properties in Zones 3 & 4: $400,000 or less.