The reason a lot of agents don't auction or a lot sell prior to the auction is its really hard! It is easier to sell the house in a week , yes you **** off buyers but hey the owners happy right? ( what if there is a buyer who would have paid more?)
With an auction campaign there is so much work to do in a set time frame and literally on the day your relying on the buyers to turn up, then when they do we have no clue if they will bid or not! Our auction yesterday , over the last 4 weeks we had over 100 buyers to show and do call backs with , over 20 interested ones, who usually want a few reinspects over ten solicitors dealing with those buyers who call us, plus vendor meetings and written reports, advertising, inspections and all the legal paperwork then you x that by another 4 auctions a month and you can see how busy 1 agent may get
We tell sellers every day what the market is doing, if they listened to us our lives would be very easy! Then you mix in a hundred or so buyers every campaign with their own price expectations who don't believe a word you say and never tell you exactly what their top dollar is then that's a typical day in real estate! Add to that a booming market and no one has a clue! ( comparable sales mean nothing in this market )
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12-07-2015 11:23 #51
Have you ever gazumped someone in real estate?
Last edited by Elijahs Mum; 12-07-2015 at 11:27.
12-07-2015 11:26 #52
Have you ever gazumped someone in real estate?
But is the absolute crux of the problem! The smoke and mirrors involved in real estate is ridiculous. There's too many bad agents out there who are dishonest and that leads buyers to be dishonest themselves, the seller is playing games, the agent is playing games, the buyers play games.
I'm not sure what the answer is but there is too much dishonesty and not enough transparency in real estate which makes it a horrible experience for everyone.
Last edited by A-Squared; 12-07-2015 at 11:33.
12-07-2015 11:27 #53Senior Member
- Join Date
- Feb 2015
We've always set the bench mark of 250 - 300 for an investment & 450 - 550 for a family home. Not because we couldn't afford more but because that was what we were willing to pay.
Sure we could've taken out a 750 loan & lived on 2 minute noodles for years but we liked our standard of living & holidays etc.
we wanted a family home AND a life.
Last family home we looked at was advertised for 550. Agent said seller would accept 480 for a quick sale. We were the ONLY couple at the inspection put in 480 right then & there. Monday they 'got a higher offer' & weeks later the house ended up going for 650.
That annoyed me. We did everything right and still got knocked back.
12-07-2015 11:32 #54
The answer is auction - the biggest hurdle is the buyer, your right they won't tell me exactly what they have to spend just as an owner never tells us their bottom line - the only transparent way is to put all the buyers and the owner in a room together and let them all see what "the market" ( which is the buyer) is willing to offer, unconditionally , the owner then can see it and say yes or no
12-07-2015 11:35 #55
I loathe bad agents as they give us all a bad name, thankfully they don't usually last and we cannot survive in this industry without a good reputation so word spreads rapidly if you've done the wrong thing
Real estate is one of the most heavily regulated industries in Australia, we have to abide by so many laws and acts, the Property Stock and Business Agents Act, Privacy Act, Conveyancing Act, PropertyAct, Tenancy Act , plus other standard work place regulations, Real estate agents are constantly audited by the ATO, ACCC, we have to complete yearly audits by Fair trading, taken to CTTT tribunals by tenants/landlords, disciplined by The REI, watched by Australian Securities and Investments Commission about advertising , every nightly news bulletins mention the real estate market plus much more , we have so many governing bodies keeping us in line, our regulations change quite often so if there were a "failsafe" way to handle offers and buyers trust me they would make one but they can't regulate buyers opinions or make a seller accept what they don't want too
12-07-2015 11:54 #56
12-07-2015 12:09 #57
12-07-2015 12:13 #58
12-07-2015 12:17 #59
It's funny because in Tassie no one pays above asking asking price! You always list it for MORE then you want here.
I'd hate to be buying in Sydney. As much as I loved living there the housing market is just crazzzzy!
12-07-2015 12:18 #60
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