Real Estate Agent tactics

Discussion in 'The Buying & Selling Process' started by 7434, 6th Jun, 2017.

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  1. Xenia

    Xenia Well-Known Member

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    Is ok
    You go home now
    ;)
     
  2. dabbler

    dabbler Well-Known Member

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    Why ask me, ask the agent and the vendor, but you just gave another clue too.....it is an auction.

    I still think it is money though, or your not considered as serious, very much like another recent thread, throw more money at them if your so inclined.....or simply ask if they will sell and what for ?
     
  3. dabbler

    dabbler Well-Known Member

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    Let me go home miss......this is getting too complicated for me.....
     
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  4. 7434

    7434 Well-Known Member

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    Once again I don't think it is solely agents I feel it's a culture in the Industry.

    1. Everyone gravitates towards common ground. If one strategy works, people go that direction. Look at politics. Look at history. Ideas can be powerful. I believe that's why auctions are so widespread.

    2. I suspect, unconfirmed, there is incredible pressure on agents from their Bosses, company to achieve sales.

    3. Until things change we are forced to learn strategies My number one strategy is find out reasonable market value try to get it at that price.

    When I'm asked my budget I say market value for this property.

    Just gotta know your price and stick to it.
     
  5. kierank

    kierank Well-Known Member

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    ... and you will continue to miss out if others offer above market value :).
     
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  6. Trainee

    Trainee Well-Known Member

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    This might work in a buyers market. In a seller's market......
     
  7. 7434

    7434 Well-Known Member

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    Sounds like a sure fire way to repeat the roaring 20s. Dutch tulip investments.

    Yes, unfortunately I suppose you're right. I guess I'm doing it wrong maybe I'll go home now. I'm not so keen on this thread I started, it has gone a bit sour.
     
  8. balwoges

    balwoges Well-Known Member

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    You are so right, I know from personal experience that if you dont make your quota you are out ...
     
  9. 7434

    7434 Well-Known Member

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    Thanks Balwoges,

    it makes sense and that would apply super pressure on the agents and explain why they are answering my emails at 1 am to book an inspection, although I know many are outsourced I get the impression this is not all of them.

    I'm not sure about the commissions but I would expect the agency to get $10,000 per $500,000 but I'm not sure how much goes to the agent. In any case, I feel that perhaps keeping their own job is more influential than any extra commission.

    This is a part of the problem though, why should the agent get the blame for what is really a result of an industry with too high an expectation?

    Anyway, some good tips here to learn from.
     
  10. Trainee

    Trainee Well-Known Member

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    Truth hurts. Meanwhile, bought anything yet? Thats the point, isnt it?
     
  11. cold_erin

    cold_erin Member

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    Whether or not the offer is considered "serious" is immaterial when it's in writing, above the advertised range. You don't get any more serious than that.
    I have asked what they'll sell for - their reply is that for a property advertised at 430 - 470K, they'll "start talking" at 500K. The property remains advertised at 430 - 470K, even though I offered 480K. As far as I can tell - auction or not - it is still illegal (and unethical, but hey...) to advertise a property at a price range less than an offer received in writing.

    Am I completely misunderstanding the Victorian laws? Agents, anyone have any thoughts about this?
     
  12. cold_erin

    cold_erin Member

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    I think the issue is a) underquoting the range, based on market value and what a vendor will accept and b) not accepting an offer above the range because it's too low. That's pretty murky behaviour, isn't it?
     
  13. dabbler

    dabbler Well-Known Member

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    Well, I am having trouble taking you seriously.....above you say 10k over, below you said 20k over.

    And your here, basically complaining, if you really want it and think it is worth more, as I said, throw more money at them, whatever is said here will make no diff, so do you *really* want it, or are you really just put out because they won't take what you offered and want a captive audience to listen ?

    If I was the vendor, I would not take your offer either.....you are not likely to be the only one that will pay that amount.

    And if you can't think of ways to make yourself be taken more seriously than a written offer they do not want to take during an auction campaign, then that is really your problem, as there is a lot of info here and other threads & your failing to see things from their perspective. That is my take, you can use that info how you want, but I also now think your not serious about buying the place, so they are likely the same and it is displayed by the result so far.
     
  14. cold_erin

    cold_erin Member

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    :D Ooops. If my typo's the only reason, I'm doing pretty well!

    Of course I was out that they didn't take my offer, but I didn't expect any different. TBH, I'm now I'm more interested that they didn't update their advertised range.

    I'm mostly here to see if there's anything I can do other than have more money, which is obviously the best tactic of all ;) I'm not sure why you've taken it personally - I've picked up some good tips on this, and other threads, and said so!
     
  15. dabbler

    dabbler Well-Known Member

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    Nah, nothing personal.

    You have not crossed the money threshold yet basically, there is no tactics required, you left out a lot of info & you have to realise if you left if you left it out here, for us, no doubt you have not done all you can to secure the place.

    Up to you to decide if you really want the place, no point procrastinating here about it though. I will stay out of it now :)
     
  16. 7434

    7434 Well-Known Member

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    4 inspections today.

    Real estate agent tactic number one.
    We have had another offer (2/4)
    my response, "and???"
    excuse or similar type delay tactic.

    Lesson, ask "and?"
    advanced tactic "how much?"
    "can't say"
    "what have they rejected before?"
    "x"
    There it is, a starting point.

    Tactic number two, talk up how unique the property is compared to other properties.
    Reponse, "but I see every single apartment like this in this street and the entire suburb"
    "oh, I meant, it's not like new apartments"
    "no, but it's hardly unique, somewhat common, so won't command a special price"
    silence.

    Tactic three, "auction is July first, it will have more competiton"
    Response, "yep, so are we taking pre-auction offers or not? Because if not there's nothing to discuss"
    "Yes, they will take offers."
    Now we're talking.

    I've found having something to throw back at them is like raise and call in poker, before it felt like raise and fold. The difference is the chips are meaningless until there's an official offer.

    If you just agree with every little thing I feel like that gives too much confidence that they think they'll be able to squeeze you just a bit harder, although it may just be a feeling, the result is what matters.

    Overall, these 4 will make 3rd and 4th preferences.

    Maybe some of these ideas will help some people.
     
  17. cold_erin

    cold_erin Member

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    What would you like to know? Maybe that's what's missing in my negotiations!
     
  18. Trainee

    Trainee Well-Known Member

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    You still havent successfully bought anything, have you. This isnt poker, as youve said yourself. People arent coming to the table to play with you because your antagonistic and the agents arent desperate.
     
  19. wylie

    wylie Moderator Staff Member

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    If this is illegal, why not report the agent who is not changing the advertising once the vendor has refused your higher offer?
     
  20. Xenia

    Xenia Well-Known Member

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    You are probably right but he still does not have a property.
    Placing yourself at the effect of someone's behaviour because you don't view it as correct is self sabotage.
    Do you choose to be right or do you choose to have a contract approved?
     
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