Guru’s flock leaving the fold

Hi, Redwing,

Good one. I do believe one thing in life – what goes around, comes around. It all depends on when.

Raymond

I don’t support Jenman or his agencies, but the link stating that he was unethical because he was selling properties to wrappers was unfair, how was he supposed to control that, and what difference does it make anyway?

Despite the fact that Jenman is desperately screaming out loud that his practices are the most ethical and everyone else is rubish, his agents are actually a great target for cheap properties!

Here’s how I see it:

They are not allowed under the Jenman system to advertise widely, the properties are never given enough exposure, and agents are restricted to working within their own database of purchasers.

If you make them a low ball, but undervalued, offer, they will NOT come back and negotiate, that’s your final offer, it is easy to buy cheap properties from Jenman agents.

I could garantee that a non-jenman agent giving the properties proper exposure, would achieve a higher price! It is not a fail safe system as he likes to believe and he does not achieve the highest price!

I know because I have dealt with Jenman agents before, as investors, these are who you should be targeting! They need to make a living too!

We buy properties in Adelaide. No Agent Fees.
[email protected]
INCREASE THE CASH FLOW FROM YOUR INVESTMENT PROPERTIES!
http://www.renttoownau.com/ http://www.vendorfinanceau.com/

gees redwing, its a july 2003 article produced by jenmans arch nemesis the real estate institute of (insert your state)

lots more bad agent stories on the J site that on the RE’s – oh well someone has a vested interest maybe..

cheers

brahms
Purveyor of Fine Finances
aka Mortgage Broker Brisbane

hi redwing
interesting links got a bit of a problem with the jenman .0rg as it doesn’t say who is behind it and when you go to the contact section it gives a email address.
most of what is on there seems a little old hat I must admit I like to see indepth stuff.
jenman to me is the same as a ljhooker or any other real estate.

here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]

Hi All,

I have researched Realestate agency techniques (including the Jenman System) extensively because at one stage I was interested in becoming an agent.

This is what I think Neil is saying and this is what I agree with-

Most people genuinely looking for a property will use newspaper advertising and open houses for research purposes as a priority over buying purposes. If a house value is reduced in the paper, the masses get to know straight away and so the perceived value begins to decline.

Properties that stay advertised on the market too long go cold very quickly and buyers generally think there is something wrong with it and the perceived begins to decline.

Investors will often sit back and watch their RE agent provided and vendor paid for, research tool (newspaper advertising) until they find a property that has been stripped of it’s value and then go in to negotiate a bargain.

Some RE agents can make mega bucks from advertising commissions, so would they care if your house gets over advertised and suffers a decline in perceived value?

Under the Non-Jenman system RE agents often will go in with a price quote that the Vendor likes and then the vendor is conditioned down to accept a much lower price so that the property reaches a easy to sell range and the agent gets a speedy commission turnover.

Many serious owner occupying buyers (the ones who are willing to pay more if they see a house they really want to live in) will be looking in a specific area and will drive around and look for for sale signs in places they want to live.

The Jenman system (when done properly) is basically a tender system targeted towards attracting only serious pre-qualified buyers that want to buy a house for more emotional reasons. It is meant to weed out the tyre kickers and bargain hunters. Investors are not on the priority list of buyers to target because they/ we mainly want bargains. In Neils system every interested buyer puts in a secret bid and they get told to make it their highest offer if they really want the property because it will end up going to the highest bidder (only if they vendor agrees). Unlike a conventional auction, they do not know what the other people have bid.

A conventional auction works a bit like ebay- The buyer goes in with a maximum amount in mind to pay but only ends up having to pay slightly above the price that the bidder behind them stops at. The winning bidder is often prepared to pay more but why would they if the bidder behind them has run out of money.

Neil gets a bit weird for me sometimes but I think there is a lot of truth to what he says.

By the way, I did not become an RE agent!! [biggrin]

Todd Burns
http://www.freepropertyhelp.com.au

I think there are faults in both the Jenman system and the conventional system and it’s different for each property. A friend of mine just called, she has a property on the market and has recieved 3 very different appraisals from RE agents, I recomended the absolute best techique to sell a property……

SELL IT PRIVATELY!

If you have to pay advertising fees, pay it directly to the newspapers. Jenman fees are just absolutely astronomical for a technique that only works in the eyes of its beholders but not in the real word.

If you don’t have time to sell privately, sell it to an investor like me![biggrin]

We buy properties in Adelaide. No Agent Fees.
[email protected]
INCREASE THE CASH FLOW FROM YOUR INVESTMENT PROPERTIES!
http://www.renttoownau.com/ http://www.vendorfinanceau.com/

Good on you Todd,
I’m glad your experience was a positive one [biggrin]

We buy properties in Adelaide. No Agent Fees.
[email protected]
INCREASE THE CASH FLOW FROM YOUR INVESTMENT PROPERTIES!
http://www.renttoownau.com/ http://www.vendorfinanceau.com/