presented offer but real estate agent not presenting to vendor

What people don't do is build a model in their minds of the present state. So imagine all the houses out there in Sydney, all the space, all the roads, all the real estate agents, all the money that's in the banks and held as mortgage, all the new loans, all the people all the absolute non-planning and corruption. Add to that all the absolutely rubbish building standards. All the business and factories, what do they do? The councils and developers and all the workers and renters. Now think of the present legislation and system and what has it resulted in?

What will continuing on this path result in? Now think about a city like Sydney with nothing there, after you have seen it as it is. You are building it again and you aim to make it family friendly and thriving a cheap place to live and a great place to live and earn money and save to start creating goods and services that create value as opposed to parasiting from others?

Disruption is coming.

I had some very intelligent individuals with me on the plane looking at Sydney and a regional agricultural town,

People don't learn because they are not teachable.
They are not teachable because they are offended when they are criticised for their ethics or thinking.
And so they will end up being enslaved in their minds and lives.
There is no lazy road to property investing.
When you pay money to a property manager, a real estate agent and you buy the wrong property in the wrong location for the task at hand, incorrectly investing in buildings, your client the renter, and the land, you will loose money. Over 20 years you may have some luck during mucky political times were incompetents run the show, but over 40 years you won't make money with bad properties and agents and mortgages. I would say that for every 2000 properties in Australia there is one real investment among them. But people don't see this because they don't look to Europe.

 

Maybe on the turps?

 

Nice one, I thought it had run out of steam after a couple of strong years.

 

You wouldn't because unless you are royalty you would be a serf working for your land lord. You would get to keep some of your produce though in exchange for your forced labour.

 

Just try an consider that when people come here they say one thing, Australia is 20 years behind the rest of the world. Even people coming from Africa where there are slums say this. What you are trying to figure out is why the heck anyone would say that? What you don't understand is that it's a mentality issue.

Now amongst convicts in Prisons you get what I call convict thinking. Convicts get a syndrome where they ultimately bellieve they should be in prison and sympathise with their jailers. They have zero solidarity to build something together or move towards the positive and develop community and strong interpersonal bonds and relationships. It's only when they debase towards primitive forms that they join in solidarity. They say that this comes from an unevolved aspect of our inner life when we moved from instinctive beings to becoming conscious beings. Less evolved people revert to instinctual modes of functioning. The end result is a culture of individualism and then rulers have a field day with them. Flick a switch and they are turned into instant consumers.

The only difference between Australian housing and slums is that the housing standards are better but far from where they should be and there is ownership. What is not understood is that the jailer is running the operation as the cheapest and nastiest profit making venture for themselves and a few others making huge cash. The utter mess that is Sydney is the net result. As soon as that jailer gets replaced with evolved human beings of class and intelligence, Sydney changes. When that happens property prices fall to their real value and the swimmers with no bathers on show everyone what they have.

Don't carry on assuming that stupid people, the rich and greedy or conniving people will run this country forever, because at the moment a few people see that It is being run into the ground and that must change. It will change. Australia's best years are ahead, property prices are too high for the country to thrive and therefore they must drop. Common logic.

 

Just wait for the crash @Ald then you'll be able to buy 5 crappy old houses in Newcastle for $800k and have change.

And the vendors won't have agents.
all the agents, and everyone who makes a living 'selling' will be begging on the streets because they don't add anything useful to society, like specialised computers for instance.

 

No the agents can go do constructive work, sweeping streets, labourers, plumbers etc

 

If anything it is heating up.

Once a property is bought by an Asian family it very rarely comes up for resale. So the number of properties available for sale is shrinking as the mainly older owners left sell up, either to downsize, enter retirement homes, or take the money. There are some bigger blocks being split, but not many.

So there are more and more buyers chasing fewer and fewer properties.
Marg

 

Wow this is the most epic tantrum I've ever seen after someone gets a lowball offer rejected. The entire system is broken and imminently going to collapse!

There are hundreds of thousands of properties for sale right now in Australia, whether this one is fair value or not who cares, the market will decide one way or another, stop wasting energy on things outside your control and move on to the next one!

 

I have considered that incredibly valid and profound point. Yes you are right about that.

But you tell me, do you see in Australian society any solidarity?

About 2 weeks ago I was walking on down the street and a guy in front of me about 50 metres away is kicking a woman on the ground.
Other pedestrians amongst them several young guys in their late twenties all in all about ten people just walked past. I ran up to the lady, told the guy "look mate, enough is enough and just clear off quickly because the cops are coming to pick you so no point being here". Luckily he did what I said. I asked her if she was ok, she was in tears, I asked her where home was, she said down the road, I said well let's go home and you just go to bed for a few hours and calm down. She agreed and went her way saying she was fine and not wanting anymore attention.

I began fuming all the way to my office, all those people walked past and did not even care.

When I was in the Kimberelys, driving in the heat and a big lady in her landcruiser with a flat tyre battling away, I helped her get her tyre on and she was pretty wary and had this kind of scared animal look on her face and stunned at the same time. Granted it was near Wolfes Creek. When I had finished, wished her a gday and said that should be good you can get back to your station now and said hopefully no more flat tyres, then I started putting my tools away and walked back to my car, she came up to me and said 35 years I have travelled around Australia and the last 25 in the Kimberelys and despite numerous flat tyres and breakdowns, nobody has ever stopped.

Everybody meets at the pub, nobody invites anyone to their homes.

Where is the solidarity?

 

Hmmm nope, perhaps in England where people were treated like rubbish and still are. I am talking about countries where people have a real set of bells and fight for their lives and their rights, where people want to rule themselves and don't need a corrupt monarchy to keep them subdued.

 

Thank you for that observation about control, it's perfectly true.

But you know what?

I am not fighting for my rights or my aspirations. I will be fine.
I am fighting for common Australians to be able to live in a country of ethics and equity, free from monopolistic practises. Where business can be conducted in a fair, free and ethical way.

Getting back on topic.

If I am selling my house on the free market, once I do that it is incumbent upon me to treat everybody equally and accept all offers, treating the clients with courtesy and respect. At the same time I must kick in the butt all people who try and trample a free market, those who try stifle this system so that the market is manipulated and favours sellers and their agents. I will not stand for that.

I don't play games with the rotten people, the egoistical, I call a spade a spade. I am not ashamed to be somebody who wishes for a fair system for buyers, sellers and renters. Those who hinder me can be ashamed, those who hinder a fair system, you be ashamed.

I don't live in the confusion that is moral relativism. That's for others to dash themselves against the rocks.

 

Regarding your first post-So if you are the vendor and if you think your house is worth 1 million or confident that it will fetch 1 million, will you accept a 800k offer after one week of Inpection?

 

If I was a vendor I would know better than the agent what my property was worth, furthermore I would never sell a property without cleaning up the garden, painting it and doing the basics to make it marketable but especially so that nobody can say the vendor was a pig who had no standards. When I sell a property or rent it out you can eat off the toilet bowl it's so clean. So when a agent comes along amongst the hordes of agents I don't fall for the claptrap of the agent who promises me the highest price. Because that's what most people do. They choose the agent who offers them the highest price. Then the agent feels ashamed to pass on offers that reflect the true value.

Besides I don't use agents because all my houses have the combination of location, orientation, renovation and landscaping, that I just mention to a few neighbours I am selling my house and put up a for sale sign and on the day of showing, a home open sign or two on busy roads for a home open which is at least 2 hours long that I get all of Saturday's home open searchers coming through. The only time that did not work was when a real estate agent ripped my signs out on the main roads and threw them into the bushes. I had a friend witness it and came and told me the next day when he found out those where my signs. I won't tell you how that real estate agent paid for his bad behaviour but it cost him a year's salary. I don't tolerate rubbish from parasites.

I have always got offers right there and then. One woman was begging me to please sell my house to her and had her husband shut their business down on a Saterday to get to a bank for a deposit cheque.

And let me tell you one thing, if you can't do that, if you can't achieve that, you blew it. If you need an agent to sell a property, you know nothing about property and property investing and you are better off sticking to your day job only.

Real investors don't use real estate agents because they cost too much and don't achieve a better result. People use real estate agents primarily because they are greedy, incompetent and lazy or alternatively they know they are selling rubbish onto the next person and so they want to feel distance from that fact. I don't play that game. People buying my properties walk away thinking I am the best guy in the world and are grateful, from me they buy a home and not a hovel, that has great energy and they get treated with the utmost courtesy and respect. I love good people, I look after them. A family came to me once and honestly laid out their situation and story, I chose their offer over other higher ones because they deserved a break.

 

This is most definitely a personal opinion as it is indeed very far from the truth.

A couple "real" investors come to mind, @sanj @Westminster , who both use the same agent and obviously see value in their service.