Brisbane Agents behavior

Discussion in 'The Buying & Selling Process' started by R.Brothers, 27th Dec, 2019.

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  1. R.Brothers

    R.Brothers Member

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    Hi All

    So we are trying to buy in the Brisbane Northside inner ring now for just over a month (Wavell/stafford heights kedron etc) and our biggest hurdle seems to actually be the agents! Our budget is around $850,000 for a freehold townhome or house.

    So far with homes I have attended or inquired about I have experienced:

    *Agents have magically upped already listed prices due to interest rate cut.
    *Agents literally refusing to give prices and price guides instead asking how much I have in the bank.
    *One agent had a building report but would only show it to me for $50 - so I left.
    *Almost no homes are listed with prices now when advertised.
    *Agents selling knockdown rebuilds off the plan are refusing to give the street address in the suburbs!
    *I made an offer on an asbestos cottage that needed gutting before I could live in it only $20k under asking as a start and the agent literally refused to take it to the vendor - isn't that illegal?

    The list goes on but I would have thought as a vendor I would be fairly angry if I found out this was happening with my advertised property? I believe they are trying to create false markets within markets in Brisbane as most of these places are still sitting unsold.

    Is this the new norm guys?

    Cheers,
     
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  2. Luke T

    Luke T Well-Known Member

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    It can be the norm !! Something I learned was don't tell them your from interstate.For some reason many have the belief that you are stealing there houses ?!!!-How they come to this conclusion I don't know -but someone said they believe the out of town investors are driving up their prices and not allowing the locals to buy in ?!!!
     
  3. Piston_Broke

    Piston_Broke Well-Known Member

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    You seem to be missing the main point:
    Real estate agents work for the seller

    That's it.
    If I tell the agent not to bring offers under xxx then he doesn't have to.
    If i change my mind, you may get a call.
    If I tell him advertise it and see if you get any offers, then unless there's an offer above xxx I have no interest in hearing from him.
    I would not trust a random building report.

    LoL the OP could be one of them...
     
  4. Luke T

    Luke T Well-Known Member

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    Yr not wrong ! But a good agent will help both the buyer and seller and yes heaven forbid-build clients and a good business !!!
     
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  5. Piston_Broke

    Piston_Broke Well-Known Member

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    Agent know that 90% of transactions will be a one off.
    Rarely would a person be back to buy another one any time soon. And act accordingly.
    There are no clients to build on the buy side. Only the sell side.

    How many "good agents" have you come across?
    In 30yrs I can't recall that many.
    And those great ones who got above my asking price are very different when I'm buying from them.
     
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  6. R.Brothers

    R.Brothers Member

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    No I am local this is a PPOR.

    I fail to see how ignoring inquiries and frustrating potential buyers at open homes by withholding information or extortion on building reports helps the vendor - said property is still sitting there unsold btw.

    I am at the point where I want to knock on the owners door and do a private deal when the agents contract is up :p
     
  7. Piston_Broke

    Piston_Broke Well-Known Member

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    I am the seller, I set my price. I may not need to sell, I may rebuild it myself next year unless I get 20% above current market value.
    Wtf are you to tell me how to sell my property?
    You want it? Pay the price or skoot on.
    btw you're missing out on the CG when Brisbane pick up again.

    Goes both ways
     
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  8. R.Brothers

    R.Brothers Member

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    True, I was expecting at least one person here to support the agents
     
    Last edited by a moderator: 27th Dec, 2019
  9. Piston_Broke

    Piston_Broke Well-Known Member

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    You can't seem to understand that Property sellers are just as selfish and self centered as buyers.
     
    Last edited by a moderator: 27th Dec, 2019
  10. QldKoolies

    QldKoolies Well-Known Member

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    Let me put it in another perspective for you:
    - The agent has magically upped the listing price due to interests rates dropping early in the campaign because they are doing the right thing by the seller to ensure they don’t sell it too low.
    - The agent refusing to give a price guide because they are after market feedback and don’t want to guide you. The fact you didn’t ask them the right questions, come armed with your comparables or ask them what their comparables were may have also indicated that you were an uneducated buyer who may need help. Asking you what your budget is will help them put you onto properties that you can actually afford.
    - The building report is not yours... someone else paid for it, if you want one and are going to spend $850,000 then buy one. Its dirt cheap. You could be coming across as a tyre kicker.
    - A price on the advertisement may disadvantage the seller. Remember who is paying the agent comms.
    - The seller and agent knows the cottage needs work and priced it accordingly confident they will get their price. You offered below what they want. They may already have an offer 10k above yours, be thankful they are shooting straight and not stringing you along - before you complained about no price guide, now they literally tell you what they want and you offer low.
     
  11. Trainee

    Trainee Well-Known Member

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    If youve been a seller, you might understand the process better from their point of view.
     
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  12. Sackie

    Sackie Well-known cafe bum of the East Premium Member

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    This is all great news to hear from my perspective. Couldn't be better. Yep, I'm a soon to be seller again. It simply means the demand is there that agents can play a little hard ball.

    As a buyer, its pointless to get frustrated. This is the game. The game will never greatly change. I have told countless folks over the years not to waste their energy ranting on about how unfair it all is blah blah blah. Understand the market your buying into, learn some strategies to get your interest taken seriously and go for it.


    I'll do one EVEN BETTER for you. Hows this.

    Pre last Sydney/Melb boom just as things were starting to show some activity and warm up, I know a few folks who really wanted to buy their PPOR and also others who wanted to buy IPs.

    They all did not buy. Know why?? They said stamp duty is day light robbery and ridiculous to pay.

    ITS THE ******* GAME!

    Needless to say, they lost out big.

    Understand the game you are in, stop hitting your head against the wall, and start playing the game. Or don't.
     
  13. Trainee

    Trainee Well-Known Member

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    What is the goal? To buy a property as cheaply as possible.

    everything else is just noise. You want a better experience with the seller and the agent they employ? Offer over comparable sales.
     
  14. R.Brothers

    R.Brothers Member

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    Thank you for an intelligent response for starters.

    I purchased an RP data subscription to help before going to these homes so I feel I have some information to help.
    No qualms in purchasing a property report - to elaborate more the agent wouldn't disclose if there was asbestos on the report or not unless I coughed up $50 and then advised if I buy the house this report would be charged to me.

    I actually sold an IP a year ago and it sat there for 3 months with the agent fighting me hard against lowering the price slightly to attract buyers which brings me back to artificially inflating the suburbs value.
     
  15. Trainee

    Trainee Well-Known Member

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    You cant artificially inflate the value unless someone actually buys it at that higher price.

    Most agents and brokers have access to rpdata.
     
  16. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    You mention that some of those houses are still on the market still? Maybe you should reconsider them as the owner may now be more open to your offer. You have multiple opportunities to purchase a single house and even if you don't like the REA then you need to play the game and keep at it.
    The alternative is to use a BA who will deal with the REA and you don't have to work through that frustration.
     
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  17. QldKoolies

    QldKoolies Well-Known Member

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    This is a standard MO, they’ll promise the world to get the listing then work your expectations down during the campaign to bring you together with a buyer to get the deal. Only half of it is immoral - the second part is necessary if you want to sell at the time.

    The best way to navigate agents is to demonstrate 1. You know the market - they want this because they need good feedback to get the vendor down so they can get paid; 2. You’re serious and ready to sign - avoid all things that will make you come across as a tyre kicker, be serious and demonstrate that you know where the value is. You’re high risk if they convince the seller to go with your deal then you ask for $100k off during B&P because you just screwed their campaign.
     
  18. R.Brothers

    R.Brothers Member

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    Good point - appreciate the feedback.

    It's been almost 10 years since I have purchased so somewhat a culture shock this process so far.
     
  19. Sackie

    Sackie Well-known cafe bum of the East Premium Member

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  20. Patrick Bateman

    Patrick Bateman Well-Known Member

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    By the way I suggest you go with a house on as larger land component as possible and avoid a townhouse even if freehold . Agents I deal with on the Westside around Toowong , Indooroopilly and Taringa don’t do barely any of the things you are indicating above . If you can identify who are the most successful agents in your area (ie highest number of listings etc). Maybe try to reach out to them and establish a relationship . You will get to know how they operate and they can hopefully even let you know of any soon to be listed properties etc you can get the jump on . They will also be easier to deal with if they know you .