All Topics / Help Needed! / Dealing with RE agents

Viewing 20 posts - 1 through 20 (of 24 total)
  • Profile photo of gamaygamay
    Participant
    @gamay
    Join Date: 2004
    Post Count: 41

    Here is my situation:

    I made a verbal offer for the house, which was obviously below the asking price. My offer was rejected and later I saw the “Sold” sign.

    Recently I called the same agent to make an appoitment to see another property and also mentioned my previous unsuccessful offer. The agent said that the house is back on the market. So I suggested that when I go through another property I make a written offer for the previous house. Agent said “Yes, ok, I will arrange the time and get beck to you”.

    Later the agent calls: 1. look, if the vendor is prepared to accept your offer I will buy it at this price myself (this was honest!). 2. I am not going to show you another property as I don’t want another “silly offer” (this was stupid!).

    Please help me to understand how to deal with RE agents in situations like this.

    PS: the offer was not silly as I recently purchased two similar houses for the same price in the same area.

    Regards

    Gamay

    Profile photo of debtdoggdebtdogg
    Member
    @debtdogg
    Join Date: 2004
    Post Count: 136

    Hi Gamay

    RE Agents can be good and bad. It seems you struck the latter. In some places the agent is required to submit all written offers regardless of how silly.

    If it was me I would do one of two things

    1) Find out the owners name and address (local council is usually the easy way) and write to them directly with your offer

    2) Go to another agent (maybe one of the better ones you have dealt with) and make the offer through them. This will really bug the first agent because then he will have to split his commission.

    Basically I would avoid the agent all together if he is going to be prohibitive.

    Good Luck

    markk
    Happy Hunting
    http://www.kentscollections.com

    Profile photo of gamaygamay
    Participant
    @gamay
    Join Date: 2004
    Post Count: 41

    Hi debtdogg,

    I have a number of good agents, but how can I by-pass the bad one? Can another agent submit my offer for the property which is not on his list? I never tried it.

    I might just talk to a couple of guys I know.

    Regards

    Gamay

    Profile photo of PickworthPickworth
    Member
    @pickworth
    Join Date: 2004
    Post Count: 48

    Hi Gamay

    The answer is yes ! Like debtdogg said the first agent will have to split the commission.

    I have a great agent and we do this all the time if the right property comes up with another agent.

    Good luck

    ‘ You will never go broke taking a profit ‘

    Profile photo of gamaygamay
    Participant
    @gamay
    Join Date: 2004
    Post Count: 41

    Hi Pickworth,

    Thank you for your comments. I just spoke to my agent and he said that he has never submitted an offer for the property listed with another agency. His comment was that it cannot be done in SA. Is this right? or should I find another agent? Is it different in different states?

    Perhaps I can just move on and find another deal, but it makes me angry and I don’t want to give up.

    Regards

    Gamay

    Profile photo of PickworthPickworth
    Member
    @pickworth
    Join Date: 2004
    Post Count: 48

    Hi Gamay

    I’m in Melbourne and it sure works here !

    I would be asking other agents in your area – half a commission is better than nothing.

    Don’t give up !

    ‘ You will never go broke taking a profit ‘

    Profile photo of debtdoggdebtdogg
    Member
    @debtdogg
    Join Date: 2004
    Post Count: 136

    Works in Qld too.
    I would be surprised if they can’t do it. Keep asking around. If it’s a good deal-never say die!

    markk
    Happy Hunting
    http://www.kentscollections.com

    Profile photo of DazzlingDazzling
    Member
    @dazzling
    Join Date: 2005
    Post Count: 1,150

    Gamay,

    Just closed a deal that didn’t involve the agent in the end.

    Initially wrote up the offer, on the agent’s proforma (don’t let the agent write it up, make sure you write up your offer !!!) and stapled a 10K cheque to the contract for the deposit. The agent thought it was great that he didn’t have to write anything. I thought it was great as I could actually read the contract and nothing slipped in there that I didn’t want. Forget verbals.

    Three days later, heard nothing from the agent. Due to both the Seller and I having travel commitments – and the agent being in hospital with a sore back….I called the Seller direct and had a chat.

    We both quickly realised we were both big enough and ugly enough to actually talk / discuss / negotitate and arrive at a deal.

    The contract was signed and faxed between both parties within the hour.

    When the Seller’s agent got out of hospital 2 days later we let him know the deal was done.

    He mentioned it was the easiest $ 56K he’d ever earnt. I mentioned that it reaffirmed my strong belief that agents are a waste of space when you have a competent Seller and Buyer. I also mentioned I was glad his commission was being paid by the Seller, and hadn’t contributed to it by paying an inflated purchase price.

    Best part of the deal – other than knocking 130K off the asking price, is that the Seller has agreed to be a Mentor for us during our next growing phase – developing industrial props…this is worth Boocoo to us, and all possible because I by-passed the agent.

    Sometimes great opportunities appear out of some aspect that you’d never expect.

    Cheers,

    Dazzling

    “Go hard or go home”

    Profile photo of gamaygamay
    Participant
    @gamay
    Join Date: 2004
    Post Count: 41

    Thank you all.

    Dazzling, are you saying that I should not make a verbal offer and always put it in writing?

    Even with the written offer sometimes agents refuse to submit to the seller because “it is a silly offer”. Even if the agent takes your offer and later calls you to say that it has been rejected, how do you know it was actually presented to the seller?

    Here is another question: what can I do if I find that after my offer was rejected the property was sold for $5K less, or in one occasion for $100 more (maybe to agent’s wife or friend??)?

    Perhaps the best option is to become agent’s friend, but many of them I would never have as a friend.

    Regards

    Gamay

    Profile photo of TorachanTorachan
    Member
    @torachan
    Join Date: 2004
    Post Count: 68

    If the seller lives in the property walk on up and knock on the door. Say that you would like to buy the place but the agent is causing you problems and you will not deal with them out of principle. In the contract have a point that the RE agent is not to get one cent in commision. That’ll sort him out.

    Is there another agent in the agency?

    Are agents not obligated by law to take offers to the seller?

    I wouldn’t waste your time with the real estate institute.

    Keep records of what the agent said, wrote and put it in the local rag. If you have all the details he can’t come back with anything meaningful.

    Profile photo of calvin_thirty4calvin_thirty4
    Participant
    @calvin_thirty4
    Join Date: 2004
    Post Count: 556

    Verbal offers aren’t even worth the paper they aren’t written on! All offers in writing must, by law, be presented! No matter what state you’re in.

    But I like the direct route! If the sole trading agreement with that agent has elapsed, you can go it alone!!!!!! The vendor saves money!!!!!! You save money!!!!! Settlement agents/solicitors will deal with the contracts and legal stuff; win-win……..

    Cheers
    [email protected]

    Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
    – Thomas Edison

    Profile photo of DazzlingDazzling
    Member
    @dazzling
    Join Date: 2005
    Post Count: 1,150

    Gamay,

    Yes.

    Cheers,

    Dazzling

    “Go hard or go home”

    Profile photo of gamaygamay
    Participant
    @gamay
    Join Date: 2004
    Post Count: 41

    Can I request a proof that my offer was presented to the seller and what would be that proof?

    Gamay

    Profile photo of calvin_thirty4calvin_thirty4
    Participant
    @calvin_thirty4
    Join Date: 2004
    Post Count: 556

    The vendors signature and their counter offer and/or denial of your offer!

    It goes both ways.

    Cheers
    [email protected]

    Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
    – Thomas Edison

    Profile photo of gamaygamay
    Participant
    @gamay
    Join Date: 2004
    Post Count: 41

    I am determined to fight. Any advise on how to use RE agents tricks to trick RE agents? Particularly when agent is saying that he wants to buy the same house as I want, but he is in a better position because he also sells it.

    Is it like insider trading? I wonder how can they get away with it?

    Regards

    Gamay

    Profile photo of emcdonaldemcdonald
    Member
    @emcdonald
    Join Date: 2004
    Post Count: 162
    I am determined to fight. Any advise on how to use RE agents tricks to trick RE agents? Particularly when agent is saying that he wants to buy the same house as I want, but he is in a better position because he also sells it.

    Is it like insider trading? I wonder how can they get away with it?

    the answer is they shouldn’t and generally there are laws realting to the payment of commisison to the agent should they or a party they have a personal relationship with purchase the property.

    try talking to the owner, if the property is purchased by the agent they will not be liable to pay comission, perhaps your offer could reflect the difference in saving they would make if they choose to sell it to the agent…

    Profile photo of gamaygamay
    Participant
    @gamay
    Join Date: 2004
    Post Count: 41

    The property is vacant, so finding the seller becomes a bit complicated.

    Regards

    Gamay

    Profile photo of jhopperjhopper
    Member
    @jhopper
    Join Date: 2004
    Post Count: 278

    Gamay,

    Even if the property is vacant, you can usually find owner info through the local council. Hasn’t cost me anything in the past but a fee may be applicable.

    cheers

    Jan

    Profile photo of theBuildingSurveyortheBuildingSurveyor
    Member
    @thebuildingsurveyor
    Join Date: 2005
    Post Count: 42

    Due to the privacy act here in victoria council will not give out property owners information. If you pose as a fencing contractor or adjoining owner they will give it to you if you write in a request stating that you are from or acting on behalf of the adjoining property and the fence needs replacing (however this is dishonest and maybe illegal) Or alternatively you can do a title search on the internet although it will only list the names and not always the current address. Leave a note on site or with the neighbours this may work.

    Profile photo of jhopperjhopper
    Member
    @jhopper
    Join Date: 2004
    Post Count: 278

    Anyone else have experience in finding these details as I have contacted a council in Perth asking for details of a property and found them to be helpful. They havn’t mentioned that it was illegal so assumed it wasn’t!

Viewing 20 posts - 1 through 20 (of 24 total)

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