REA wouldn’t allow second viewing

Discussion in 'The Buying & Selling Process' started by jinx77, 24th Sep, 2019.

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  1. jinx77

    jinx77 Well-Known Member

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    I saw a property I really wanted to buy on the weekend but the REA wouldn’t let me view the unit again with my buyers agent! He told me he’d only allow me to inspect the property again if I agreed, in writing, to offer the max of the advertised price range, which I refused to do.

    Now the property’s gone “under contract”.

    I feel like I’ve been obstructed from making an offer by the REA and missed out on my dream home. He had no idea how much I was willing to pay and sabotaged the vendor by discouraging me from inspecting again and putting in an offer. He said offers below the max were a “waste of time” and was really negative about my desire to put in an offer. I would have put in a high offer if only he’d let the BA in to check it out!

    Is there anything I can do about this?
     
  2. 738

    738 Well-Known Member

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    I would like to hear the agents side of the story before commenting. Lol
     
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  3. Ryan23

    Ryan23 Well-Known Member

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    You could put in an offer/contract incase the other one falls through
     
  4. Scott No Mates

    Scott No Mates Well-Known Member

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    • Hope that the sale falls over
    • Keep looking
     
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  5. significance

    significance Well-Known Member

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    Don’t get too stuck on a “dream home”. You’ll find another that’s just as good and will probably negotiate better when you are not emotional about it. Perhaps the agent already had a verbal offer at our near the upper end of the advertised range, so any lower offer would indeed have been a waste of time. When I was on the market a few weeks ago, I had an agent just ghost me when I asked to see the property a second time. Annoying, but no loss: I put an offer on an almost identical place just down the road.
     
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  6. Trainee

    Trainee Well-Known Member

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    If you really want it make a high offer.

    Walking away is powerful but only if you can handle the emotions.
     
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  7. jinx77

    jinx77 Well-Known Member

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    I can’t put in any offer until he allows the buyers agent through the property. The BA is negotiating on my behalf and needs to see it before I can make the offer.

    Even if he had already received a good offer from someone else, why wouldn’t he welcome additional offers? It gives the vendor a second option if the first one falls through. Also I told him I was willing to make a high offer if he’d let the BA through to see the place. He assumed that my offer would be lower based on no evidence at all. REAs shouldn’t be making assumptions or predictions about who is likely to offer more.

    The vendor probably has no idea that I was even interested which seems suss to me. If the vendor knew there were two competing offers they could have potentially gotten more than what they’ve accepted. To me it seems like the REA was impatient to sell a property quickly and couldnt be bothered dealing with multiple offers or putting in the effort to get a higher offer from a second interested person.
     
    Last edited: 24th Sep, 2019
  8. jinx77

    jinx77 Well-Known Member

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    On what grounds can an REA assume/predict that someone’s offer is likely to be “lower” than someone else’s? He doesn’t know how much money is in my bank account! I already told him I was likely to offer at the higher end if the BA could look at the property. For all he knows I could have been willing to offer 10K more than the other person.
     
  9. Trainee

    Trainee Well-Known Member

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    Maybe the agent is busy. Spend time showing you the property, when they have a good offer already? Or spend time on other properties?

    You offering another 10k is only a couple hundred dollars to the agent.

    You could try talking to the principal of the agency.
     
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  10. jinx77

    jinx77 Well-Known Member

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    This is really bad business conduct! The vendor is paying the REA to find the best possible offer, not the first offer that’s “good enough”. It’s deceptive to obstruct buyers from making offers then telling the vendor that only one person’s interested. And he owns he agency, it’s a family business.
     
  11. Trainee

    Trainee Well-Known Member

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    Maybe the owner said dont do any opens unless they make an offer. If the property is occupied, its hard to keep it in showing condition.

    But really none of this matters. You make an offer, or wait for the next one.
     
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  12. The Y-man

    The Y-man Moderator Staff Member

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    This is the bit that doesn't quite click for me - if you have a BA who is negotiating on your behalf, why were you talking to the agent?

    The Y-man
     
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  13. Perp

    Perp Well-Known Member

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    You were perfectly free to put in an offer; you just chose not to. (Most people don't even use buyer's agents.) You could have made it subject to inspection by the buyer's agent. But you didn't.

    You're mad that you hesitated and missed out. (And that's OK; we've all been there.)

    But for now, your energy would more productively be spent learning from the experience than raging against it.
     
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  14. Trainee

    Trainee Well-Known Member

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    You dont know what the vendors instructions are. Maybe they wanted a fast sale or a specific settlement date. Since you looked on the weekend and its under contract by tuesday, then the most likely scenario is that they got a signed contract offer near the max range. maybe it was unconditional. Maybe the agency is busy and doesnt have many junior agents to do showings. Who knows?

    The point is, you need to learn the process. And unless you want something unique, dont view anything as a dream home. Therell be plenty like it.
     
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  15. Lindsay_W

    Lindsay_W Well-Known Member

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    So did you inspect the property yourself first without the BA and then you wanted to go back with the BA? If so what's the reason for needing the BA to inspect?
    Unfortunately without knowing what the current offer is you don't really know if your offer was going to be higher or not.
     
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  16. Propertunity

    Propertunity Well-Known Member

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    In addition to the other comments about the possible reason, I'd add:
    1. The REA is selling to a friend or relative.
    2. The REA is selling to a painful prospect who they just want to sell something to, so they get out of the REA's life and away from his Opens - I'm serious, I've lost buying a property because of this.
    3. The REA has dealt with your BA before and did not like the outcome.
    4. Any number of other reasons ...... yes the selling agent may not have achieved the best price for the vendor - but try proving it.
    Move on and take your learnings and play by the unwritten rules to your advantage next time.
     
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  17. Scott No Mates

    Scott No Mates Well-Known Member

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    @Propertunity - too true but the real reason will never be uncovered without several bottles of red. :oops:
     
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  18. Sackie

    Sackie Well-Known Member

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    People often misunderstand what a selling agent really does. To think their primary goal is to get you absolutely top dollar is very niave.

    Their goal is simple. Close the deal at an acceptable price to the seller as quickly as possible. Doesn't need to be the highest price. Just acceptable.

    Their main concern is realising their commission.
     
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  19. Hetty

    Hetty Well-Known Member

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    Don’t get your heart set on a particular property. It’s hard when it’s a PPOR but you can’t get attached until you’ve exchanged contracts.
     
  20. Archaon

    Archaon Well-Known Member

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    Indeed, I see it all the time in my local area, they are doing a disservice to the market imo, as well as valuations on comparables.

    An extra 50k for the seller is only an extra 1k in the REA's pocket.
     

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