Hello
I am trying to sell a house and i am overseas at the moment. So i have had discussions with an agent and i have insrtucted him on my minimum sale price. We agreed to market the property $10,000 above this minimum. After recieving an offer well below my asking price i decided to do some research. I started seaching a well known property site and i found an ad for my property asking the exact minimum price that i disclosed to the agent. Surely there is a breach of confidentiality here. I am going to speak to the agent today but was wondering if anyone else has come across this and any advice.
Look forward to your replies
ThankyouWell that certainly leaves zero room for you to negotiate. Have you approached the priciple of the agency? What is the listed advertised price on your contract? Best to check that out first. If they have not honoured the contract then perhaps you can terminate the agreement (or at least threaten to) based on them not fullfilling their stated obligations. There may not be much point in threatening if you are not prepared to walk as you may only end up with a p*&^^%d off sales agent.
All the best and let us know how it goes.
MickI'd recommend a similar course of action: Make sure that you do have an agency agreement (they can't work on your behalf without one), then check the marketing strategy and the agreed price. Review the termination clauses.
Secondly, many markets are feeling the pinch at the moment – how realistic is your 'minimum' price and how long has the property been on the market. Quiz the agent as to how they will achieve the agreed price if they are advertising it with no room for negotiation (or is your property in a market which does not allow room for negotiation?)
Thanks guys
The Agent apologised and said it was a clerical error. Wheather or not this was the truth, the ad has been changed. Ill give the agent the benefit of the doubt ?!?! Just out of interest he is charging 4.5% plus vat. The property is under $150,000. These fees seem to be high but i would like a second opinion.
Thankyou4.5% +GST is very high.
Usually 2-2.5% commision
I would set a target minimum price and time.
Give them bonus 0.5% if they can achieve the target
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