presented offer but real estate agent not presenting to vendor

I think you can do that all across Australia. I know that REIV and REIQ you can, nevertheless you can talk to your solicitor to write up a contract and deliver it to the representing agent who by law needs to pass it on.

The real estate institute contract has been generated for their members (real estate agents) as a one man band starting up wouldn't have the funds to generate their own contract of sale. Why should you use their contract when you have not paid any money to the REI? If you want to spend a couple hundred getting your lawyer to write one up then go for it.

If the property is genuinely worth 800k and being advertised for 1M then it wont sell but trying to 'educate' the vendor so early into the campaign is going to be difficult. Put yourself in their shoes you feel your house is worth 1M and you have some person say I give you 800k and you have 24 hours to accept, what would you do?

I would tell this so called individual to f off, you can kick and scream as much as you like but they are entitled to do what they want with their asset and if they want to just let it sit there and then end up selling it to a family member for 200k that is their call.

Kicking, screaming, complaining and talking about how everyone is liars and that the vendor should accept your offer due to the impending doom is not going to get your no where. Keep on good terms with the agent and continue your look elsewhere. If it takes them 6 months or 6 years to realize they aren't going to get their 1M who cares it works out better for you as you don't have to have the holding cost for that period.

I went to an auction a couple of weeks ago the computer sites said it was worth 630k and I bidded up to 680k for a property as I thought value was 650-680. My father who owns numerous properties (in the top 1% of investors Australia wide) said 650-675 but it sold for over 700k. So someone thought it was worth more than us or paid to much, no point getting angry move on.

There was another house that was advertised for 550k and we had a contract at 540k but had underpinning issues, we tried to get it for 480-490k after finding out these issues. Three months later it has finally sold for 500k

I along with many many other people can give you stories of where we have lost out or where people paid more than what they think it is worth. However just because you think it is worth 800k someone else might see the house as 1.1M and think they are getting a bargain.

 

I think the claim the standard REIWA offer and acceptance form is hidden is also nonsense.

 

Here's some basic facts.

- The REIWA prescribed forms are not hidden. They have been passed by the Law Society of WA - at members expense and for the use of PAYING REIWA Agent members only.

- The public can buy non REIWA forms from their local newsagent - in the case of private sales. A member of the public can present an offer directly to the seller, but the Listing Agreement has a clause stating that should the seller introduce the buyer, or be the effective cause of the sale, the seller is still liable to pay agents selling fee. Given this,why would they let a prospective buyer take a poorly written, non REIWA offer to them directly? They hired an agent for a reason.

- Under the new Code of Conduct, an agent or sales representative must communicate all offers to the seller, but they don't have to be in writing.

I have no doubt that there are some unethical real estate agents out there but to tarnish the entire profession with the same brush is just downright offensive.

 

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For Sale By Owner | Sell On Realestate.com.au & Domain.com.au
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DIY Sales and Leasing

All of these allow you to list on real estate.com.au and sell privately.

Real estate agents cannot stop people from selling privately. And if you don't want to use re.com.au, use Gumtree. Plenty of other people do.

No because the legislation doesn't exist. It's more nonsense from @Ald who doesn't let facts stand in the way of a good rant. Out of interest, here is the truth:

If you make a written offer on a property, the real estate agent or sales representative must present your offer to the seller unless it's below a value decided by the seller.
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Using a real estate agent

As for the REIWA Contract for Sale of Land or Strata Title by Offer and Acceptance, you can buy one from a newsagent when selling privately. I have done this and I think it cost 50c.

 

I agree. I have met some very unethical agents. I have also witnessed agents breaking the law. That doesn't mean all agents are unethical, dishonest or law breakers. I have done business with many real estate agents. Mostly I find them to be honest, ethical and hard working.

Yes actually. The last property I bought the agent pointed out several issues with the property. Throughout the entire sales and settlement process he was very honest and forthright.

 

Hard workers are nurses on night shift , the engineers that work 12 hour days and get paid for 8 after long nights studying very hard concepts and doing equations, the scientists, the people working physically. The people working mentally, those who have to learn every night to keep things moving forward. Agents don't fall into that category.

 

I took to flights over Sydney and had a fact finding mission to a country town looking for investments.

Take a flight over Sydney, then take a flight over Paris, or New York.

What do you see?

There is no shortage of development space in Sydney. There is massive room for Sydney property prices to crash on down to where they are meant to be , median of $600 k maximum. And this will occur.

If I had a median house or better in Sydney, I would be cashing in the chips on that capital.

It's such a bubble I can't bellieve it.

Sydney is ripe for property disruption models of business. The corporations are coming.

 

Wow. You are incredibly out of touch with reality.

 

It's always better to get back to first principles here. 500 years ago how would you buy a property?

Do you really think it's so complicated that an agent is required?

If people bought the right property you would not need and agent or a property manager.

If you sit and think about this for a long time and deeply think about it you might understand.

 

Ald speak TM

 

Semi related - Why do you think the insurance industry exists?

 

One must choose professions wisely, a profession must be something that contributes to the world without parasiting off of others.

 

Yeah, but I am sure we have all come across stupid and lazy real estate agents from time to time. I know I have seen my fair share.

There are few I would describe as hard working but I have seen them all over Australia. I have done business with brilliant, hard working and honest agents in Perth, Adelaide and Melbourne. These are people I will always be happy to recommend to others and do business with in the future.

 

Same goes with any profession. Doctors, engineers, nurses. Humans in general come in all forms. A career does not define us.

 

Used car salesman?

 

Oh they're dodgy as hell

 

Good and bad folk in every industry.

Some people keep plugging away because that's what they've always done. They equate being busy with being successful. Others genuinely want to make a difference.

 

True. We have all the the posts about incompetent property managers. But what about all the hard working property managers who are hard working and go above and beyond to do a great job? Simply cannot lump them all in together.

 

It's the legislation that is the huge problem.

Do you really bellieve somebody is going to look after your property and your best interests for $2400 a year?