I like to think the agent realised he let his vendor down and wanted to make amends. Afterall his additional commission on the $5k would only be $250. This being the case, you can call him incompetent / inexperienced but certainly he has demonstrated he has a councious. He sounds like someone whom perhaps I would like to explore the opportunity of doing further business with.
Interesting point Jordanian.
Regards Bear
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DONT MISS OUT!!!!!Are you guys serious?, Jordanian this guy wanted the whole $5000 in his pocket no doubt!.
Steve I would guess this guy is a stubbie short of a six pack, of course IF and only if the agent was a personal friend and went out of his way to find you a good buy and did the hard yards to get you the house, you may give him a bonus but otherwise this is a no brainer.
Answer me this, how did he react when you laughed in his face as I would?.[
]Steve?
I would ask him why he is confusing integrity with money, by his reckoning he would work for nothing, secondly I would explain that the additional profit you make was due to a cosmetic renovation and property improvement.
Obviously the guy is just having a hissy fit because he has realised (and undoubtedly not for the first time) that he really doesn’t know his job properly and that HE missed the potential. You have to wonder if he ever pointed out to his clients (the Vendors) that they could have done this and reaped the benefits; also why he didn’t identify this as being a reason to try for a better price for his vendors; why did he not point out to you (and other buyers) the possbilities; why did he think that you, with whom he had no contract, should pay him anything at all?; the list goes on but what is the point of arguing with someone like this? I hope you just smiled sweetly and sold him a copy of your book! – majicjac
I think the initial post was the “sound of one hand clapping”
Cheers,
Who cares what an agent thinks!
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Click below to email meTerryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I once bought a large property in QLD – except that I couldn’t get finance and the sale fell through. Imagine my surprise when I saw this very unique property mentioned in 0-130 properties: the Melbourne investor who was my competitor and who bought the place was our very own Steve McKnight.
So here’s the deal, Steve – just give me 50% of your profits on the deal and I’ll call that fair.
[laugh4][laugh4][laugh4]I can imagine what you might call it!
In Qld I think this can be construed as “secret commission” over and above what he was paid and deserved to be paid. The Office of Fair Trading could well ask him to cough up the $5k in penalties. He would need to be very careful!
[bike2]
Yasna & Simon
Steve, i hope you asked him what other properties he had on his books – being obviously incompetant he falls immediately into the bracket of real estate agents we are happy “to buy thru but never to sell with!!”
cheers
brahms
CALL NOW…adults only (boys and girls ask mummy or dad first) ~~ 1900 hot broker ~~I think Steve meant he bought the property FROM the agent, not THROUGH the agent…so this guy was feeling personally ripped off perhaps? I would be surprised if Steve didn’t turn this around to a win-win…..but when will he let us know?????
WE WANT STEVE
WE WANT STEVE
WE WANT STEVE[jerry]
I would have replied:
“how about YOU pay ME $5000 an I won’t spread it around what a lousy real estate agent you are.”I know this has been asked before, but, Steve what actually happened?
I think most of our opinions have been fully explored, sot it would be nice to see what actually happened. I think you’d be pretty safe to expose yourself as there are members of all camps present here (ie: camp “Get-stuffed”, camp “Aw,-you-poor-thing,-yes-I’ll-give-you-money”, camp “I’ll-pay-you-if-you-find-me-more-IPs”, etc).
Perhaps you, Brent, could follow this up on our behalf?!
Cheers
C@34
Hi,
We made an offer to rip up the contract so the vendor could sell to someone else at the higher price.
This called their bluff, and in the absence of another genuine buyer, the sale went through regardless.
One thing I did mention to the agency, which happened to be a Jenman agency, was that if they thought they did an inferior job in selling the property then perhaps they would like to discount their commission. History shows that they charged the full amount.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Thanx Steve.
Good one to remember for future refrence.
Cheers
C@34
Hey steve
I would politely say that i have done nothing illegal and i used my initative and insight. Beat people with kindness and you get the best results
Cheers Leo
Steve,
What an interesting variety of responces. I certainly would not have given him the $5K as suggested by Tegan, however I also believe TerryW is not developing a good relationship for future deals with the agent. I believe Ron had the most diplomatic reseponce, however may be it would be better to suggest to the agent that we could work together for a more mutually satisfying result on future deals- to ensure the agent gave me the opportunity for further purchases.From the new kid on the block, I agree that I would offer him money for similar deals. However it appears as if his approach was all wrong and if you chose to give him nothing that would have been the lesson in itself. He needs to be on the ball and look for those new opportunities that may arise by keeping in touch with a magic person like you!
Be humble.Hi all
One thing that I have learnt over the years is that people in a professional group talk to one and other about the clients they deal with. The good, the bad and even the ugly. It does not matter that they work for a different firm they still talk to each other. The last thing that you want to do is bite the hand that feeds you, particularly in a small market. You do not want to get known as that @#*^head they did business with and don’t want to see again. You want to be known as that fair and reasonable person who I may have had a dissagreement with but we left on good terms. I would have said to the agent that the deal was done on agreed terms but that I was looking for more properties in the area and I would be happy to not only pay his commission but also a reasonable spotters fee if he could bring in other deals that I was interested in to me. Looking for a win win outcome for all.
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