What does the term “listing Agent” mean ??
Does it relate to the individual sales person within an agency who signed up the vendor, or the agency he/she works for??
Most of the time it will mean the person who listed the property from that agency – i.e. the person from that agency that signed up the authority to put the property on the market. Most of the time the listing agent then manages the listing – does the open for inspections, presents offers etc.
(“,) $$$ HoLdEnCoMmOdOrE $$$ (“,)
mmm….. I’m thinking that if i go to an agency i may be only offered properties from the person I see and not the whole agency. Is there a way around this ???
I once sold my ppor with MPRE (exclusive listing); the agent also brought other MPRE agents (about 10 of them) in the region through the house initially so that they’re familiar and able to deal on my behalf.
The house was sold within 4 weeks in a down market. They were terrific in negotiation and have thorough research data on comparables. I quess some agents are better than others, so interview & ask before you sign.
All the best.
Hi,
i am an agent in Brisbane…what you are saying is true, many agents operate as independent business that “sub-contracts” to the agency…and therefore tend to flog their own listings.
one way around this is to look at their website or go to the agency and get the “properties for sale book” that they should have out on display – it enables you to see some of their properties without even having to talk to an agent.
the best way is just to ask the agent – most agents are not as smart as they think they are and you can see pretty easily if they are telling you porky’s!!!!
our agency does the “caravan” spoken about above…once a week we all get togetther and look at each others properties so we know what we have on the books…we share the commissions between the listing and selling agents (if different) so that the aim is to sell as many properties as an agency instead of being individuals and fighting against each other – the goal is to be the best agency in the area – you cant do that when you’re trying to beat the other agents in your office.
dont be scared to ask the agents how they operate…if they refuse to tell you ask them what they are hiding or run away!!!!!!!!!!!!!
cheers
TurtleTurtle I’d like to catch up with you for coffee (and I’ll even buy as I know how tight you agents are! :p )
Please contact me to arrange a suitable time.
Thanks.
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Same with my agency – we have listing territories – where we can only list certain things, but I can sell anything with our company logo on it – anything Victoria-wide. Works well as agents are able to offer more to the buyers, and gets a better result for vendors as there are more people working on their property.
(“,) $$$ HoLdEnCoMmOdOrE $$$ (“,)
thanx for the insights………… Tomorrow I’m off to see some local agencies for the first time and looking forward to the experience.
Hopefully it will go better than the open inspection I went to a couple of weeks ago……. It was advertised in the local paper as an opportunity not to be missed, so i got there on time and was greeted by a nice young man driving a nice BMW. Ok lets go and see the place I said, but he said there was a problem with the tenants and he could’nt take me through the place. But he said I could go around the outside if I want………. just be careful of the big dog in the backyard !!! mmmmm…….
Asked him if he was the listing agent and yes he was, even though his office was nowhere near the local area. Asked him how much rent the tenants were paying and how long was the lease for. He did’nt know but would get back to me. After 4 days he rang back and said “so what do you think ??? are you interested in buying the place ??”
Hi Monty
Sounds like that agent had few people interested and was looking for any sort of lead. Did you remind them that you had asked questions which hadn’t been answered?
I always ask questions when I view a property, especially if I am even remotely interested in it. It tells me if the REA has done their homework, if they have put the property on the market in a hurry and who may be genuinely interested in helping me so I can help their vendors. If I don’t get an answer immediately or at least get a call within a few days, then I put that property and the agent aside. I’m no longer interested unless the property is still on the market 3-4 weeks later and the price has not been inflated.
In a down market, the best agents will take your details and get back to you when something comes along that might interest you. Especially if it is known that you are a cashed up investor.
mum
That agent wasn’t from a company with the initials R W were they? (R.. W….) Haha, we have that a bit around here.
(“,) $$$ HoLdEnCoMmOdOrE $$$ (“,)
hahahaha – good one holdencommodore…must be a thing amongst agents who don’t work for that particular group…we have similar issues!!
cheers
I think someone make a book of everyone’s experiences with real estate agents – would be a hoot!
Some of ours:
– Agent has wrong keys
– Agent has NO keys!
– Agent unlocks door and it promptly falls off!!
– Agent tells us there’s a planning permit and the original house can stay then gives us the section 32 which contains a demolition order as the original house is an illlegal dwelling.
– Agent no idea whatsover about the price
– Agent refuses to fax or post us the section 32 – we have to pick it up as it’s 15 pages and contains “confidential information” (Eh!! – oh and thats a R…… W………. one!!)
– Agent takes us into house, tenant tells us she’s been told the property was sold and signed up yesterday by Mr and Mrs XXX
– At an open for inspection – smell in the property is so bad that agent can’t talk and we have to hold our noses – and start wretching!
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