All Topics / Help Needed! / R/E Agents tricks!

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  • Profile photo of Dylan33Dylan33
    Member
    @dylan33
    Join Date: 2010
    Post Count: 17

    Hi. I’ve just had an interesting morning. I went along to have another look at a house I had made an offer on which was excepted by the agent. I was supposed to meet them there but while I was waiting and having a quick look around the yard a lady turned up and introduced herself as ‘ The person who was buying the house.’ She didn’t give me a chance to speak and went on to tell me that she had had an offer excepted yesterday! Once I started to tell her who I was and I too had had an offer excepted, the excrement hit the cooling device!

    It turns out we both paid for the same building inspection report. So the inspector is doing alright out of this. makes one inspection for a client for $350. Then sells the same report to further prospective buyers for $200 each. God knows how many other people there are involved in this.
    We both went to the agents office but she was home sick. We were told to go home and she would ring us there in 10 minutes.

    To cut a long story short I’m in the process of getting advice and working out if there was anything unethical done here? I haven’t talked to the agent as yet. I’m waiting to talk to someone ” In the game ” first.

    This is a national chain, well known agency.

    Is this an agents everyday trick of the trade or an unethical practice?

    And they wonder why people don’t trust them? Dylan.

    Profile photo of DWolfeDWolfe
    Participant
    @dwolfe
    Join Date: 2009
    Post Count: 1,253

    Awesome! How many other people are buying the house? I like the way the agent chucked a sickie when they realized they were in the nasty. was the other persons offer the same as yours or higher or lower? They just pull out everything to get a sale and a huge price!

    We put in an offer the day a property came onto the net. Yesterday actually. The area where we are looking to develop next everyone is auctioning big blocks and u can't get ur hands on them. Anyway put in offer middle of asking price range. Sorry too much interest we are putting the price up 50k. Yeah whatever, someone will buy it but it takes 50k worth of profit out of the deal for us. Then the text message with put in your best offers after 3.30pm as there is another offer going in and the property "will be on the market". So much for no bidding wars. Needless to say no thanks we'll just keep shopping thanks! I'd say to you unless this property is seriously going to make you huge cash just walk away and get another.

    D

    DWolfe | www.homestagers.com.au
    http://www.homestagers.com.au
    Email Me

    Profile photo of god_of_moneygod_of_money
    Participant
    @god_of_money
    Join Date: 2008
    Post Count: 970

    Well… it is quite common practice among agents.
    Under offer DOES NOT MEAN anything… till you EXCHANGE the cotract then the property is yours
    Till then… it is still ON the market and other buyer can gazump you.

    I tried to do it once.. but the 'honest' agent declined it…forsake of 5k extra for the vendor (too bad)

    Have u paid the 10% deposit and get the solicitor to exchange the contract??

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Your offer was accepted by the agent, but what about the seller? Also as GOM mentioned, acceptance doesn't occur until you sign and exchange.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of god_of_moneygod_of_money
    Participant
    @god_of_money
    Join Date: 2008
    Post Count: 970

    Please let us know what happen at the end?

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