Be Wary of Real Estate Agents

Viewing 5 posts - 1 through 5 (of 5 total)

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Keymaster
@piadmin
Join Date: 2013
Post Count: 3,225
January 4, 2003 - 3:32 pm
I just want to warn investors to be wary of real estate agents… They tend to say things just to drive up the price of properties and to make the sale (not that that should surprise anyone). [] I am saying this cause I was misled, of course []. I purchased a nice property (positive cash flow) off a particular real estate agent and of course I asked them to contact me if there are any other similar ones avaliable. The next time they called me, they informed me that all of a sudden, alot of Sydney people (I thought that you guys had caught on where I was []) were suddenly interested in property in that area and they sold several others at very inflated prices… I, being nieve, (a newbie at this game) believed them and so when another such property came on the market again, I offered too much for the property… When a friend of mine asked the real estate agent recently, what properties were avaliable, they informed them that the ones they claimed were sold before at inflated prices were in fact not sold at all and were still sitting there two months later! [}] Luckily I didn’t purchase the other one at the inflated price.
Just a warning… I’m not saying that all are like that, but some may be and they may make up stories to get you to pay more than you may need to for your ‘positive cashflow’ property.[]
Topnotch
Member
@topnotch
Join Date: 2002
Post Count: 15
January 5, 2003 - 12:04 am
Haven’t you ever heard of “REAL ESTATE AGENTS HONOUR” [][]
Topnotch
On The Sunshine Coast Of Queensland Where Our Bones Are Always Warm
AD
Participant
@ad
Join Date: 2002
Post Count: 636
January 5, 2003 - 8:11 am
Sorry to hear of your misfortune Angie. Just remember two things…
1. It is only a mistake if you repeat it…(you didn’t)
2. You control the game not the agent. IF it doesn’t fit….walk.
I know the next one will be better..
Enjoy
AD [:0)]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
Sooshie
Member
@sooshie
Join Date: 2002
Post Count: 974
January 9, 2003 - 2:59 pm
Hi Angie,
Been there done that! Unfortunately.
Now I’d have a different take. I would calmly ring up the re agent and I would say, ‘I truly am intersted in properties, but I only want you to call me with real offers in my price range. If your honest with me, I will do business with you and we will both get fat off the land (So-to-speak), oh and by the way, my friends who are doing the same as myself and are looking for a real estate company they can build up a relationship up with too’.
Now I may not say it exactly in those words, but I wonder what their response would be?
I’m glad you found out about this sort of conmanship before you got burnt!
Cheers
Sooshie
There are no problems, only solutions!
Sideswipe
Member
@sideswipe
Join Date: 2003
Post Count: 3
January 21, 2003 - 9:51 am
Hello,
Queensland Real Estate Agents are legally bound by a code of conduct. Contact the REIQ and ask them for their opinion. If there has been unconscionable conduct or misleading statements then you may be able to claim your losses.