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TMA a reputable agent will give you a list of recent sales in your area of properties sold that compare closely with your home. The fact is that most people will always go with the agent that gives them the highest figure. This is only natural because we all want the most we can get. Vendors need to be aware of these tatics from some agents, get them to back up the figure they have given you, ask them to explain how they came up with their price e.g. how much is the land component, house, fixtures and depreciation on fixtures.
Go to other home opens in the area, compare your home with the ones being offered.
By going to home opens you are also interviewing the rep for when you might need one. Ask questions, see if you would employ this rep to represent you in a sale.
Don’t just pick one because of the figure they give you. As you have said get them to back up the figure they have told you by putting them in the hot seat e.g. you are not paying for advertising if you don’t sell at a certain price or I want to clear after costs a certain figure. The rep can walk away if he/she feels that this price is not achievable.The fact that you think the $10,000 was to ensure that the agent gets paid is so wrong. The agent is the last to be paid, all the other parties are paid first and if there isn’t enough to cover the agents fees, then he/she misses out.
Thanks Luke,
As a real estate rep, it really bugs me how people don’t see the fact that we don’t just list the property and then draw up a contract. There is so much that we do before, during and after the contract. Anyone can write up an offer but to get through some of the pitfalls, it takes expertise in handling these problems.Hi
All offers must be presented in WA. If an owner says he will not look at offers under a certain figure then the offer wouldn’t be written up. But as an agent I would verbally let them know that someone has indicated an interest in their property at x amount. In WA all offers must be in writting to have a contract. This offer must be presented and accept or rejected by the vendor, which is then signed by the vendor. Ask the sales rep for a look at the rejected offer. If it hasen’t been signed by the vendor then the chances are they it hasn’t been presented.
CarolHi Wayne
If you get onto realestate.com.au you will see photo’s of the $600,000 houses, they are listed with remax. They all look like they are taken at night. Must of already built them somewhere else and have reproduced the photo’s for the realestate.com sitethanks
carolHi Wayne
I am a local real estate sales rep in Yanchep and I have been following your negotiations. Well done! Your lucky I wasn’t the selling agent or I would have known from the entries, how high you could really go. As for the homes selling in the area for $650,000, that is not true. There have been plenty of properties listed in that price range but none have sold anywhere near that figure.
Still there has been good growth in the Ocean Lagoon Estate.
There are a lot of development that is going to be happening in the near future. As well as the Capricorn development there is another 6 or 700 homesites to be released on the south side of Two Rocks. Marmion Ave should be here by the end of 2006.
If you need any further info please send me an email.
CarolAs a REA, I work hard for my money.Sure some deals are easy but we have a lot of difficult ones as well. If your agent can’t negotiate his/her fee and is willing to discount their fees in a hurry, what makes you think he/she is going to be able to negotiate with a purchaser in your best interest.
As far as selling privately, sure some do it well, but I have seen many people lose the sale because the contract isn’t written to be able to legally hold the purchaser to it. Some purchasers won’t noegotiate on a property with the owner as they don’t like offending the owner by offering them a lower figure than asked, they don’t want to personally have to face the owner.Purchasers also like to offer a dicounted price as they think that the owner doesn’t have to pay a fee.I have seen many properties sit on the market privately and finally an agent is given the listing and it is sold in no time.
You have to remember that when we make a quick sale it is probably from a purchaser that we have been working with for a long time. In this case it is not easy money as time and investment has been spent on these purchasers.
