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Can I trust this agent?

Discussion in 'The Buying & Selling Process' started by screwedon, 25th Jun, 2015.

  1. screwedon

    screwedon New Member

    Joined:
    25th Jun, 2015
    Posts:
    3
    Location:
    Sydney
    I've finally decided to sell in WA Spearwood due to changing work circumstances. The block (r30) is 1118m2 with a 70's 3x1, and should attract at least some buyers. I decided to contact the REA who was selling the nieghbours block to see if he might have a developer interested in buying both blocks at once. He says after some time..."yes i have someone who will offer between 700 - 750k " and that he will do his best to get the highest price for us.

    All we have to do is sign the legalities so that he has the right to sell for the next 60 days. We would not normally go with this company as it is pretty unknown (MSA real estate), but the guy seems legit and we have heard from the neighbor that he has requested a meeting.

    What do you think. Is this a normal strategy to reel us in?

    Cheers and thanks in advance. Have always used somersoft which was always great.
     
  2. andrew_de_a

    andrew_de_a Active Member

    Joined:
    22nd Jun, 2015
    Posts:
    32
    Location:
    Melbourne
    If you are only using this agent for the one buyer they claim to have
    then only give them a 2 week authority.

    If you would use them anyway then 60 days isn't unreasonable.
     
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  3. screwedon

    screwedon New Member

    Joined:
    25th Jun, 2015
    Posts:
    3
    Location:
    Sydney
    Hey thanks!

    I simply presumed it was fixed at 60 days.
     
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  4. Kael

    Kael Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    277
    Location:
    Sydney, NSW
    In situations like these, is it common for the real estate agent to agree?
     
  5. sanj

    sanj Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,145
    Location:
    Perth
    Some might throw their toys out of the pram but it's fairly standard and I'd do the same in terms of making it a shorter initial period.

    Important lesson for anyone reading this thread, I suspect the OP would have received a fair bit more had he/she sold when the market demand for sites was through the roof.
    I'm no spear wood expert but someone can probably verify, have triplex site prices dropped at least 100k?
     
    Kael likes this.