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Pushy Agent

Discussion in 'The Buying & Selling Process' started by macca446, 18th Feb, 2016.

  1. macca446

    macca446 Member

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    21st Jun, 2015
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    Location:
    Central Coast
    Hi All.
    Seeking advice thanks, I am looking at buying a ppor and am interested in a particular property it strangely has been on market nearly 100 days with no real offers as 1st passed in at auction and then no offers since as I say overpriced in the market as was listed $839k now 780k to 820k , advice needed as I am looking at having a second inspection and on that obtain a true copy of contract with 149 and council approval for pool as an easement runs back of pool .The agent rang me today trying to get me to view property before this Saturday open house which I stated due to work commitments I cannot he then said I am at pre negotiation stage with interested buyer from early through the week and although it was lower he didnt want to tell vendor without us having an opportunity and asked me what i may be prepared to offer the vendor in which atm I would not stipulate as I need a further inspection he then said well on the open house submit your offer and if offer accepted you can sign contracts and pay the .25%, It seems strange all of a sudden and I need my solicitor to go over the full detailed contract as I do not want to sign anything and lose my .25 as the property is around the 800k mark I am just feeling a little rushed and not sure how to approach this all advice welcome thanks.
    Macca
     
  2. beachgurl

    beachgurl Well-Known Member

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    Sounds like the agent is looking for an offer he can use at the open house. I've been caught before on this.
     
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  3. Bran

    Bran Well-Known Member

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    I've been making a lot of offers lately.

    In not one of them that wasn't successful did the agent chase me. Maybe food for thought? Don't let them hype you... 100 days. Suss out the open for yourself. If he knows you are keen, he will most likely drag out any other offer until then (which is why I use a sunset clause expiring usually before the next open)
     
  4. Xenia

    Xenia Adelaide Property Manager Business Member

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    the agent is just looking for an offer.
     
  5. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    ;)Yes all BS... Just like the houses i was looking at in Ashmont NSW ... The agent telling me .. " hurry put on a deposit... I have 2 couple really interested to buy !!!
    So i asked him why they didnt buy in the last 12 months its been on the market ...why now have they suddenly came to buy ??;)
     
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  6. Mick Butterfield

    Mick Butterfield Well-Known Member

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    Location:
    Bermagui NSW
    Agreed, the agent is just looking to get an offer to shop around at open. What is the place worth? 100 days in some markets is normal but in an average market it could indicate the price is simply too high.
     
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  7. macca446

    macca446 Member

    Joined:
    21st Jun, 2015
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    Location:
    Central Coast
    Hi Mick,
    The place was been listed at 839k after it was past in at auction from about mid November 2015 until a couple of weeks ago which is now 780k to 820k.
    I really do feel this is BS and will see how things go as open home tomorrow,I actually do love the home but am getting a more detailed look tomorrow and see what happens, if we do want to progress I will make an offer subject to pest and building and get my solicitor to view the contract of sale,I do not want to feel rushed so I will not place a deposit or sign the contract until I am satisfied and if there is another buyer I know I am at risk of losing it but I need to be sure that everything is good about it.
    Macca
     
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  8. Mick Butterfield

    Mick Butterfield Well-Known Member

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    Location:
    Bermagui NSW
    Hi Macca,
    If you love the place and have no intention of selling it in the near future then it is ok to pay that bit more. However, do not ever rush (or feel like you are being pressured) by the agent. This is a huge financial decision and should not be made hastily because the agent is wanting to get it done quickly. Sure there may be another buyer (there may not) but you still need to do all the necessary dd. Feel free to drop me a pm if you want to discuss further. How did the open home go?
    Mick
     
  9. Jake Milne

    Jake Milne #1 Buyers Agent, Vic. Business Member

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    Don't be sold a property. Buy a property. Ignore his manufactured urgency. Perform your due diligence quickly and calmly. Make an offer once you're comfortable. Explain this to the agent, and ask for him to keep you updated.

    If he truly has another offer on the table the smartest thing for him to do is to wait for your offer to create competition. Again, do your research, be comfortable with how much you're offering and what your terms are and make sure the deal stacks up for you. Otherwise let it go, another property will always come up.
     
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  10. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Yes theres always "another buyer" who is "coming around this evening for a third inspection" and you need to "put your best foot forward" to secure it before the vendor accepts their offer.

    Real estate agent cliche book 101.
     
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  11. Nemo30

    Nemo30 Well-Known Member

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    Completely agree. But be aware that sometimes it's true, there is another offer.

    I sold mine yesterday. Had one party who made several offers, who were very keen, and were close to what I would accept... Had been negotiating back and forth. Another party offered a slightly higher amount yesterday afternoon and I took it. I'm sure the first party thought It was just an agent trick, but they missed out.
     
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  12. Esh

    Esh Well-Known Member

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    Or maybe the owner is thinking of taking it off the market with the weekend being the deadline
     
  13. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Get online and see how many properties the agent has sold lately.

    Their cupboards might be getting empty.