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Clydesdale

Dealing with Real estate agents

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Hey Everyone,

 

Just wanted to anyones thoughts of how to deal with all the Dodgy Real Estate agents out there. Mrs C and I are in the market to buy a family home but there is sooooooooooooo much bull$hit to go through dealing with the pack of lies the agents feed you at open houses/ inpections.

 

EG, Question: are the vendors willing to sell before the auction Answer: of course for the right price. I put in an offer, never hear from the agent, then I hear it sold for 10K less than I offered.

 

Anyway feel free to impart any bits of wisdom you have on me!

 

Cheers Guys and Happy Easter.

Edited by Clydesdale

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Hey Everyone,

 

Just wanted to anyones thoughts of how to deal with all the Dodgy Real Estate agents out there. Mrs C and I are in the market to buy a family home but there is sooooooooooooo much bull$hit to go through dealing with the pack of lies the agents feed you at open houses/ inpections.

 

EG, Question: are the vendors willing to sell before the auction Answer: of course for the right price. I put in a bid, never hear from the agent, then I hear it sold for 10K less than I offered.

 

Anyway feel free to impart any bits of wisdom you have on me!

 

Cheers Guys and Happy Easter.

Hey Everyone,

 

Just wanted to anyones thoughts of how to deal with all the Dodgy Real Estate agents out there. Mrs C and I are in the market to buy a family home but there is sooooooooooooo much bull$hit to go through dealing with the pack of lies the agents feed you at open houses/ inpections.

 

EG, Question: are the vendors willing to sell before the auction Answer: of course for the right price. I put in a bid, never hear from the agent, then I hear it sold for 10K less than I offered.

 

Anyway feel free to impart any bits of wisdom you have on me!

 

Cheers Guys and Happy Easter.

The real estate game is tainted with a bad brush due to the amount of scammers, developers whose ambitions outweigh their ability and of course real estate agents who lack skill, poorly educated (you can become an agent in some states with a 1-2 week course), greedy, and don't even know how the whole housing/lending/legal aspects of the market work. So no wonder you are finding it difficult to get in the game.

 

Sorry to sound slightly condescending, but by 'bid', do you mean you just called the agent and said a price? If your offer was serious, a signed contract to be formally presented to the vendor is a sure fire way to get an agent to get off their backside to make a deal. Real estate agents want one thing - their commission, and when signed offers get thrown around, it means business for them.

 

If you really wanted the property, and your offer was rejected - why didn't you attend the auction? Sounds like you could have picked it up a little cheaper than your offer. Don't be scared of auctions, it's just a method of sale, just compressed into a few moments, not drawn out over infinite time like private treaty sale.

 

Do you have all things in order before looking for a place? Have you been to a reputable broker to see how much you can afford?

 

I recommend jumping on this forum, searching and asking specific questions if you can't find what you are looking for: www.somersoft.com

 

Plenty of people who can answer your questions.

 

By the way, there are plenty of great agents out there - you just have to sort the chaff from the hay, just like any profession.

 

Good luck!

 

pinkboy

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Learn to enjoy the game! If you're in Melbourne, a lot of properties will go to auction, so spend a few weekends going to lots of auctions to see how the game is played. The good thing about auctions is that you can actually see what's going on: the real estate agent can't tell you porkies about all the other offers they have because you can actually see if people are bidding. Also remember that at auction, the property will sell for the price the second highest buyer will pay - the winning bidder only needs to go $1 beyond that. Also good to remember that if you are outbid. So, the winner may have only just beaten your limit - but they might have gone much further if pushed. When you're ready to bid at auction, decide what is the maximum you'll pay for a property. If you get it for less, bonus. But if someone is prepared to pay more for it, they'll get it. At least at auction you can see it happen. If you're really concerned about getting emotional, get someone else to represent you - they can be far more dispassionate.

Do your homework on cooling off periods and 'subject to' clauses, as these don't apply within (I think) 3 days of an advertised auction (before or after).

Edited by Wardy

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Legally Real Estate agents aren't allowed to answer most of those questions.

 

My tip is just put offers in.

 

The real estate agent has to legally take them to the vendor.

 

Ask your friends who they have dealt with in the area, you'll find who are the good ones and who aren't.

 

For example in my area Crompton Green take everything to auction. They never accept early offers.

 

I find it a joke as so much of their stuff gets passed in. They overprice everything.

 

BUT it worked well for me when I bought as the people selling had to sell but they over valued the house and no one else even bid. In the end I got it for 75K cheaper than I was willing to offer.

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Fark me. What a few weeks. 
 

today ive seen records at 3 auctions.  
 

one left to go.  Sadly in chadstone where the asians have unlimited money.  
 

but the 3 auctions have all set records for the areas they are in. And good 20% over records. 
 

lets hope i get the next one. I have 158,000 over the top quote and it will be a record if i win. 
 

crazy day. 
 

(fyi. I’m a buyers advocate) 

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On 18/04/2014 at 5:12 PM, Clydesdale said:

 

EG, Question: are the vendors willing to sell before the auction Answer: of course for the right price. I put in an offer, never hear from the agent, then I hear it sold for 10K less than I offered.

Asking for a contract shows you are more keen than others. Do that before or when you make an offer.

Make him ring the owner while your there.

Be an arsehole.......they are. :)

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Had a weird one this arvo. 

Pre agreed on 5% deposit and 60 days settlement.  

Contracts all signed up and the the vendor/seller changes her mind and wants 90 days.  

Too late. All signed up. 

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