Hello,
I need advise from you guys!
In the last 4/5 months we had to deal with real estate agency selling 2 units.
Well, I think I will go creasy the pressure is enormous and it is coming from the agent.
I found that the agent (so called friend of ours) misled us in terms of the price of the units. Few times I caught him lying to us on different thinks like the prices that similar units were sold for, he was always talking us down like speaking only negatively about the our property trying to lower our expectations.
To cut the story short, I think he lied to us manipulated us and tomorrow is our auction for the second unit and he was trying to convince us that we should sell no matter what because it will cost us more money if we keep the campaign going. He was very rude when I told him that if we don’t reach out reserve price tomorrow I would call other agencies so they can help us sell the property as well.
What is worse we settle for another property in 10 days and we need to sell the unit, any day late will cost us high interest and he knows it.
Or he is a terrible, so arrogant, I know you will ask why him them??
Because I have talked to many and it is a dirty game and they are all the same just some are better then others in lying of course.
I feel very angry and disappointed; this is outrage that they can get a way with all that.
My question is, if there a place, website or institution where I can lounge a complain about this agency and this agent in particular.I think we should create a website where people with similar experience like mine can write so we can tell other people to be careful.
Thank you in advance
Yes, real estate institute board in vic, I am sure they must have them in the other states.
I’ve posted extensively about this before.
same story, also read Jenmans’ book, its spot on re R/e agents and their strategies.
My case was my home and overvaluation and wearing us down and rudeness.
We did sort of win when we went to the hearing, the agent got an absolutely measly fine of 2500, which was promptly pocketed by the R/e institute, clearly that’s how they make their money.
Consumer rights? No such thing!HI Maggie,
Although I have had no experience with real estate agents myself, it sounds like you are dealing with a classic mode of operation of real estate agents.
My understanding is that in order to get your business they tell you an inflated price, then once you have signed the contract to list with them (often tehre is a clause that forces you to pay them a commission even if you go to anotehr agent who subsequently sells your house – in effect you have to pay two commissions!!).
Their next ploy is to try to get you to be “realistic” in your expectations of price, so they speak negatively about “the market” and your house so to “condition” you to accept a lower price.
According to my research, the only thing these real estate agents seem to be intersted in is getting their commission for doing the least amount of work!
This seems to be the way tradtional real estate agents work, so you need to be VERY careful!
All this info is in a book called “dont sign anything” by Neil Jenman an ex-real estate agent, who believes in ethical agents. You can get his book from most bookshops.
alternatively try the website: jenman.com.au, you might be able to get some info from them
Good luck!
Khi all
yes the jenman book is excellent and i wish i had read it before.
Jenman points out that auction is not the best option for a myriad of reasons….
get the book its worth its great value.Jenman would have to be the messiah of real estate agents in so far as ethics are concerned and consumer protection.
You can email him he makes himself available at no charge and they do have a consumer protection unit which may be of help.
Jenman is not a wraps fan by the way.
best of luck
kind regards
alfThank you everyone,
I will definitely explore all possible way of at list speaking out about it.
It is an unethical and unmoral the way all agencies operate. What a terrible way to make a living.
What upsets me more is his ignorance he does not care not a bit if we a happy about his service or not.
I feel he simply walked all over us without any consideration what we think.
Well now is 7:10 in the morning and our auction is at 10 am so wish me luck I will need it.
I will pop in later to let you know how the auction went.Thank you again guys, this site is great and so are you all.
Maggie
Hi maggie, it’s a shame you have to sell to get money for your settlement, otherwise I was going to suggest finding another agent. As it stands, you probably have your hands tied (and the agent would be aware of this). Just hope you get the price you need. Good luck.
Regards
Marty
Hi all,
Well it is over!!! I am exhausted and I am nerve wreck but glad that it is over and the price well I think if we had passed in (the unit) we would not have gotten better price later.
Initially the agent said he will try to sell it for $370 000/380 000. No one else told us they can get such a price we ended up selling for $359 000 which was the amount that other agencies said they would get.
I did confront the agent today after the sell that this is bellow his evaluation and that he did over evaluate the property just to get the business and he did not deny that and said that he still gets better prizes then others, which is not the point anyway.We did have the finance to settle for the other house but every week delay would have cost us in interest $350 and we did not wanted to keep the unit and negative geared it.
Anyway for now we will be just looking and not buying, as I believe that a slow down and down turn is coming up
Hi,
Sounds terrible. Can’t even trust friends nowadays. There is another website called http://www.notgoodenough.org. Here people post their gripes about products, companies etc. That may be another avenue as well as REIV.
Good Luck
Meni
Hello,I need advise from you guys!
In the last 4/5 months we had to deal with real estate agency selling 2 units.
Well, I think I will go creasy the pressure is enormous and it is coming from the agent.
I found that the agent (so called friend of ours) misled us in terms of the price of the units. Few times I caught him lying to us on different thinks like the prices that similar units were sold for, he was always talking us down like speaking only negatively about the our property trying to lower our expectations.
To cut the story short, I think he lied to us manipulated us and tomorrow is our auction for the second unit and he was trying to convince us that we should sell no matter what because it will cost us more money if we keep the campaign going. He was very rude when I told him that if we don’t reach out reserve price tomorrow I would call other agencies so they can help us sell the property as well.
What is worse we settle for another property in 10 days and we need to sell the unit, any day late will cost us high interest and he knows it.
Or he is a terrible, so arrogant, I know you will ask why him them??
Because I have talked to many and it is a dirty game and they are all the same just some are better then others in lying of course.
I feel very angry and disappointed; this is outrage that they can get a way with all that.
My question is, if there a place, website or institution where I can lounge a complain about this agency and this agent in particular.I think we should create a website where people with similar experience like mine can write so we can tell other people to be careful.
Thank you in advance
Hi again Maggie. Obviously you have told the agent that you not happy with his service, which is a good start. My next step would be to put pen to paper and advise the principal of the agency how dissatisfied you are about the agent, also send a copy to Real Estate Institute in your state and ask for a reply. Don’t be surprised if it does fall on deaf ears but it is worth a go.
Regards
Marty
The topic ‘Please need advice for bad agent?’ is closed to new replies.
