Agent Conditioning

Agree, but bummer when you get an agent that plays both side....

 

BG
This also happens in Sydney.
Agent just tried it on with me, however the market was actually turning, but it was still strong, don't buy into I say

 

When a real estate agents gives you back up data you know they've done their homework. It's more 'bullet proof' than no comparison list. The task of comparison prices is EXACTLY to take into account differences and similarities; otherwise it's not a 'comparison'. For the most part, markets do not change dramatically over a short space of time.

 

REA are not vaulers, you need to be accredited.

Either do your own DD and work out your own price or pay someone for it and still do you DD on their research.

This is why REA call them appraisals not valuations.

 

I hate agents that start to work on me as the vendor from near the get go. I clearly tell them what I will accept from the outset and tell them they need to work on finding a buyer, you know what type of agent they are if they start the working on you instead, I call them lazy too, problem is you often do not find out till a few weeks in.

If your happy to rent it, don't waste your time with this guy, tell them not to discuss anything but acceptable offers and that if they do not sell it for this price, you wont renew with them and will rent it through another agency.

In saying all the above, you need to figure out if your pricing is realistic if you are leaning toward a sale.

 

Are similar houses to yours selling for what you are expecting? What was the agents valuation when they spoke to you at the start

 

Properties are still selling but I am noticing quite a few "sold before auction". I personally believe this is a classic case of agent conditioning taking place what it appears to be across the board of agents. 2 months ago unless the offer was exceptional then I think almost anyone would have gone to auction.
No doubt there is a lot of fear being put into vendors "market softening" "less buyers over xmas".etc

Auction is this weekend so we will just see how we go, my friend has a property management business so already got her lined up and she is confident of a good return and cheap rate so property will be pretty much neutrally geared.

 

Getting close, let us know how you go.
Which city is it in?

 

I will definitely update the thread after auction or if anything happens this week.

It's in Melbourne so still a strong market.

 

Good stuff, you should be right.
How has the auction clearance rate been compared to Sydney lately?

 

I just don't understand why they will want to sell it prior auction of it's getting good interest. It's not just about the comm but their reputation of getting amazing prices. But! It does happen

 

Yep indeed they are. A good book on agents/selling home etc is "Sold Above Market" by Geoff Grist. Great insights.



Cheers

 

Good luck this weekend @albanga . Make the sod work for his commission

 

Thanks @Westminster and all others. I will be sure to update this thread straight after auction, hopefully with a great outcome.

 

Thanks for the tip Leo, I'll check it out.

 

Any update on how auction went? Also did you manage to recall the name of the book you spoke about?

Thanks

 

Passed in vendor bid. It would appear my agent was actually being transparent as opposed to conditioning (who would have thought )

I have since had a couple of offers but slightly under reserve so am somewhat confident we will get there this week or next as since it got listed as private with a specific price there has been a lot of interest.

 

Good stuff, let us know how you go.

 

Got sent this one at work. Can confirm - is worth reading!!

 

And the name of the book