Forums / Property Investing / Help Needed! / agent not presenting vendor with offer

Viewing 20 posts - 1 through 20 (of 37 total)
  • Profile photo of carlincarlin
    Participant
    @carlin
    Join Date: 2005
    Post Count: 211

    Hi all,

    Any thoughts on this one.

    What would you do if you thought an agent hadn’t passed your offer on to the vendor, even though they said they had?

    How can you be sure your offer has been presented?

    I know there’s probably some law somewhere that says agents must present all offers, but how can you know they have?

    If the only answer to actually approach the vendors and ask them, thereby risking ruining all chances of getting the place if your hunch proves to be wrong?

    thanks,
    Carlin

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    This has happened to me more than once. The third time with the same agent (because I was looking in the same area), I went and knocked on the vendor’s door. When I told him my FIRST offer, which was higher than the sale price, he went nuts!!! I told him to report the agent and recover the difference, plus what I was willing to pay, from the agent.

    It turned out that the agent was buying all the properties in this area with his friends as he knew of an upcoming development. There is shifty agents everywhere!

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    Yes you can give the vendor the offer directly. Just bypass the agent.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of MichaelYardneyMichaelYardney
    Participant
    @michaelyardney
    Join Date: 2001
    Post Count: 617

    You should understand that the agent works for himself and in his best interest.

    Many agents are often interested in more than the current sale. They are looking for the next property to sell and if you don’t have one, they are sometimes more interested in submitting offers from a purchaser who will offer them their house to sell. They are not keen to deal with investors.

    That’s why we always deal with the listing agent sometimes called the controlling agent, because they have the best access to the vendor and understanding of his needs. They have a vested interest in making the sale go through.

    Michael Yardney
    METROPOLE PROPERTIES
    Author of Australia’s leading property e-magazine.
    Join over 10,000 readers each month.
    FREE subscription http://www.metropole.com.au

    Profile photo of BofclarkBofclark
    Participant
    @bofclark
    Join Date: 2005
    Post Count: 30

    A real estate agent did not turn up to let me in to look at a house that I was interested in. I was not surprised by this. His first remarks to me when I rang to ask for an inspection of the property were something along the line of ,it’s a pointless exercise because the vendor is nuts and wants to much for the place’. I told the agent that I still wanted to see the place and he was a no show. A real estate agent who goes out of his way to not sell a property, it’s gotta make you ask who is nuts .

    Profile photo of lonnielonnie
    Member
    @lonnie
    Join Date: 2005
    Post Count: 15

    Why not approach the vendor yourself. If the vendor does not live in the house go to the local council and for a fee you can get their address and present your offer.

    Profile photo of achieverachiever
    Participant
    @achiever
    Join Date: 2004
    Post Count: 23

    I would want my reasonable offer passed on.

    Why not approach the vendor yourself. Sounds like the way to go to ensure they are aware of your offer.

    Achiever

    Profile photo of LuciLuci
    Member
    @luci
    Join Date: 2005
    Post Count: 114

    I’m sure the vendor will have no problem with you dropping them a note or a quick phone call to mention the offer – as long as it’s not construed as a pressure measure. Just be friendly, positive about the house, and say something along the lines ‘I’m not sure if the agent’s had a chance to tell you, but I put in an offer for X amount’.

    Profile photo of kay henrykay henry
    Member
    @kay-henry
    Join Date: 2003
    Post Count: 2,737

    When I was selling, I told the agent I did not want to hear about offers lower than $XXXXXX.

    Carlin, you have not provided much details about your offer, and the reponses provided here have seen the Agent’s behaviour to be negligent. however, it depends on what your offer is- I have no doubt vendors get bloody sick of lowball offers. If someone wishes to lowball (not sure if you have), then the vendor may have instructed the agent not to pass it on.

    kay henry

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    Unfortunately, the law requires all offers to be passed on to the vendor in NSW. I am not certain if this applies in all areas of Australia but I imagine it would.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of byron Sambyron Sam
    Participant
    @byron-sam
    Join Date: 2005
    Post Count: 15

    Hi Carlin,

    recently I had exactly that experience and had a gut feeling my many offers had not been submitted.
    I reported them to the Professional Standards Department (offshoot of the REI)but did not lodge a formal complaint.
    I kicked up so much noise and eventually rang the owner direct.
    The agents still get their commission of course but I got the property.
    It was not my intention to cut them out but I had a very uneasy feeling they were sabotaging the sale AND THEY WERE!!!
    Make a lot of noise, approach the owner (if you are prepared to take a slight risk)and do a deal.
    I would never have got the block if I had sat back having a terrible feeling in my stomach.
    To this day I still don’t know why they behaved like that but the owner is thankful and so am I.

    Byron SAM

    Byron Sam

    Profile photo of buzzwellsbuzzwells
    Participant
    @buzzwells
    Join Date: 2005
    Post Count: 83

    As far as I’m aware if the offer is in writing then the agent MUST present the offer to the vendor.

    It could possibly be against the law to not present the offer to the vendor.

    However if the offer is verbal then the agent does not have to present it to the vendor.

    Somebody may be able to clarify this one for us all, and laws on this may differ from state to state.

    Learn, Love, Strive. Make a difference!

    Profile photo of AUSPROPAUSPROP
    Participant
    @ausprop
    Join Date: 2003
    Post Count: 953

    in WA all written offers must be presented by law. There is no such thing as a verbal offer – verbal offers are just conversation.

    whether the agent follows the law is another matter.



    http://www.megainvestments.com.au

    Extensive list of ‘Off The Plan’ property available for sale in Perth.

    John – 0419 198 856

    Profile photo of carlincarlin
    Participant
    @carlin
    Join Date: 2005
    Post Count: 211

    Thanks everyone for your views.

    Henry Kay, no this wasn’t a lowball offer at all. Very much in the ballpark. But, in any case, I also understand that ALL offers must be passed on to the vendor.

    Still considering my next move as have now found another property that fits my needs.

    regards,
    Carlin

    Profile photo of plpropertyplproperty
    Member
    @plproperty
    Join Date: 2005
    Post Count: 50

    carlin – In Queensland agents only have to present an offer in accordance with their written appointment to act for the client (seller). This means that if the seller has stipulated in the app.t to act, that they don’t want to be presented with offers below what they are willing to accept – the agent does not have to present the vendor with the offer. How can you be sure? You can’t really but you can be sure that the agent is lawfully required to act in the sellers best interests.

    Mr Yardney real estate agents are required by law to act in the sellers best interest. I’ve always found agents ready to deal with investors. In fact my real estate agency deals with investors every day.

    Luke Woollard
    Licensee
    Pacific Lifestyle Property
    http://www.plproperty.com.au

    comments made are general information only. you should seek professional advice for your particular circumstances.

    Profile photo of JenDJenD
    Participant
    @jend
    Join Date: 2004
    Post Count: 33

    Hi all,

    How can you contact the vendor directly when you are seeing the property though an agent – will the agent give you the vendor’s details directly- i always thought they couldn’t give the vendors details by law until a contract was signed?

    Still Clueless!!
    Jen

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    No they cannot and will not give you the vendor’s details. You can knock on the door if they live there or do a title search at the Land Titles Office and find out yourself.

    The Mortgage Adviser


    http://www.themortgageadviser.com.au
    [email protected]
    Essential Links


    Profile photo of JenDJenD
    Participant
    @jend
    Join Date: 2004
    Post Count: 33

    Thanks Mortgage Advisor,

    You back up what the agents have told me so far, but another clueless question – how do you do a title search from the Land Titles Office? i.e. how/who/where do you contact them?

    Cheers,
    Jen

    Profile photo of plpropertyplproperty
    Member
    @plproperty
    Join Date: 2005
    Post Count: 50

    rpdata.net.au services include title searching in various states

    Luke Woollard
    Licensee
    Pacific Lifestyle Property
    http://www.plproperty.com.au

    comments made are general information only. you should seek professional advice for your particular circumstances.

    Profile photo of munecita20027739munecita20027739
    Member
    @munecita20027739
    Join Date: 2003
    Post Count: 26

    This happened to me yesterday. I saw a property that was well priced and offered full price knowing it would sell quickly. Asked for a 7 day finance clause and 2 days for structural building inspection.

    Property has just been listed on the internet on Tuesday and I signed contract Tuesday night. Askeed vendor to present offer next day, my offer was not presented next day, however the agent did hav time to put a sign up out the front of the house, take internal pictures also.

    Next day same thing I pleaded with him to present my offer as I knew it was being advertised in fridays paper and it would sell. Every excuse under the sun. The vendor was not home, he was busy etc etc anyway this continued unntil friday where he assured me would try and visit the vendor again.

    next thing I get a call on friday afternoon that someone else inspected the house on friday and offered unconditional contract above asking price.

    I was absolutly furios and sent him an email that I would be contacting the real estate institute to report on what had occured.

    Unfortunatly the property was not in the same state as where I live so I could not knock on the door and approach the vendor.

    I actually have my suspicions about whether more than the asking price was actually offered….

    not happy…..
    Karina

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