Ozi
you have done well keep your eye on what is going on with the property
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[email protected]Thanks for the tips everyone!
Stuart, I managed to get sales data from an agent which goes back 12 months. I showed this to the vendor, along with some of the current listings in the area. I guess the recent sales data wasn’t all that persuasive as there were still a few properties which sold in the $300-$350k mark. I know for a fact that these were better houses in better areas which have been renovated.
I will definitely be keeping an eye on the property and pounce once it is listed with an agent. I won’t be losing sleep over it if I don’t get it. I’m sure another one will pop up sooner or later.
Regards,
OziHi Ozi,
If she has put the clause in the contract then the agent has to accept… I have done this many times and the agents don’t like it … but they usually accept … I also like playing wit hte agency agreement to see if they are having me on on the price … I write in front of them (on the contract) … for every $5,000 (five thousand) in reduction of asking price, 0.25 of commission is deducted off the agents commission sum.
This will show straight away if they have been straight up with your assessment or whether they have high balled you to get the listing!….
At the Auction you should do this….. See what the opening price is….. stand with the auctioning agent and face the other bidders and put in your price right off the bat (even if there are no bids!) and glare at the rest of the potential bidders. – This will scare off many of the bidders if you have just leapt up from opening price say $40-60K straight away….. Give em the impression you will fight to the end on auction…. “DO NOT MAKE ANOTHER BID THOUGH”
If the price goes above this then you know you had a good price in mind and can walk away with a smile knowing you had the right strategy and did not overpay for the property.
bEST OF LUCK,
Kiwi
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http://www.kiwilogic.bizHi Kiwi,
That is some great advice. I like your idea about including a clause for reducing the commission if the agent doesn’t get their quoted price. Very smart I think!
I’m hoping I don’t have to go to auction but if I do, I’ll give some thought to your suggested tactics. Thanks heaps!
Cheers,
Ozi
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