call from real estate asking what its worth

Discussion in 'The Buying & Selling Process' started by HannibalK1ng, 16th Aug, 2017.

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  1. HannibalK1ng

    HannibalK1ng Member

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    So looking of buying our family home (already have a smaller place)
    Found something going to auction, asked if they would take an offer before auction and told would need to be a lot more then what they are expecting to consider it....

    So we though that's fine we like it, we will just go to auction....

    Received a call yesterday with the agent asking what we think its worth, i just avoided the question.....

    Do you think they are keen to sell private or working out who is coming to the auction or is it them trying to give an indication to the client?

    thanks!
     
  2. Propertunity

    Propertunity Well-Known Member

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    Working out if you are a tyre kicker. Giving pricing feedback to the vendor to help set the reserve price on auction day.
     
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  3. HannibalK1ng

    HannibalK1ng Member

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    would you recommenced someone (me) to put an offer in before auction or just turn up auction day ready to bid?
     
  4. neK

    neK Well-Known Member

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    Whats your view on how to best answer it?
     
  5. Propertunity

    Propertunity Well-Known Member

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    "I'm happy to make a pre-auction offer if your vendor is open to selling prior. But I'm not going to help them set the reserve price by making an offer that won't be accepted because they are committed to the auction process anyway, or by giving you pricing feedback. What price do I need to put on a signed contract for you as their chosen selling agent to be confident enough to take around to the vendors to get them to countersign?

    What comparable sales did you use? What was your estimate of selling price that you put on the SAA (selling agency agreement) when you signed your vendor up?

    Remember, whoever is asking the questions is controlling the conversation.
     
  6. Eric Wu

    Eric Wu Well-Known Member Business Member

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    that is gold @Propertunity , I will use that line next time when talk to REA
     
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  7. Tom Rivera

    Tom Rivera Property Manager Business Member

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    Love it!
     
  8. Gypsyblood

    Gypsyblood Well-Known Member

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    Brilliant!