HI ALL,
I have recently been put on a local real estate agents 'buyers list' and i get text messages now about recent listings etc…
i am concerned about the text i got today though:
"Unit at … St.. Penrith has had an offer, it sits at $180k. If you are still interested you will need to make a higher offer today"
Pretty sure this is illegal and i dont like it either
Thoughts
Un-ethical – Yes. illegal – Not sure.
As long as they have had a genuine offer made, then the marketing campain is based on fact.
Until the property has exchanged, they are legally obliged to submit all offers the vendor.
(Nobody likes being gazumped, but it is legal).The other thing to consider is that the offer may have not been accepted by the vendor, the agent / agency in question may just be using this as a way to 'stir up an emotional response' to extract a higher offer which will be accepted by the vendor.
Either way, i can't see it producing a 'long-term, high level of respect' within the local community.
It depends what state you are in. I'm pretty sure you can't do that in South Australia.
Let's say you offer $182,000. What's to stop the agent from going to prospective buyer number one and asking them for a higher offer? Then the agent is running some sort of quasi-auction.
Im in NSW.
Buyers complain when they aren't kept informed of progress with a sale, it seems like they also complain if they do.
The thing that bothers me is that the agent is probably lying about the offer to make me submit an offer of $182k or so when they probably havent got an offer of $170k.
goldies wrote:The thing that bothers me is that the agent is probably lying about the offer to make me submit an offer of $182k or so when they probably havent got an offer of $170k.In NSW, if the agent in question cannot prove that he recieved a genuine offer for $180k, then it would be considered false advertising and illegal.
There is a song that I’m thinking of……..suspicious minds!
I think nowadays we are all very cynical. If the property is not worth that price and you think they are dodgy, move on. If you are interested tell them you think the property is not really worth that and you are very happy that they got that offer, meanwhile if it falls through you are happy to submit an offer at (insert low price here) and to give you a ring if that happens. Don’t engage your valuable brain sells worrying about playing a game that may or may not exist.
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHi goldies,
While in NSW that is technically 'legal' it is in extremely poor spirit of salesmanship and ethics. An agent could do this do the other guy when (if) you offer a higher amount still etc etc……. They should present the opffer to the vendor, and if accepted leave it at that – if not, then approach you again. You will notice in places like VIC & TAS you see properties listed as 'under offer'. This means they are negotiating and the offer has either not been formally rejected or accepted, or is being negotiated still, or is 'subject to finance or similar. That's how it should be done, but in NSW if the agent is a player they don't have to abide by this sort of thing.
Doesn't sound like an agent I'd like to be dealing with. How bad do you want it?
All the best!
Great Post D
Don’t waste your valuable time or energy, there is so much more out there.
Hey everyone,
I am a real estate agent in training and in my opinion to "SMS" buyers like that although not illegal…it's VERY DAMN LAZY of the agent in question. My training has been all about customer service standing out from other agents (in a positive way lol). If it were me, I would go through the buyers log and PERSONALLY CALL whomever I belive would be genuinely interested.
There are good agents around.
Karl
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