Join Australia's most dynamic and respected property investment community

Template for offer of time limit

Discussion in 'The Buying & Selling Process' started by Darlinghurst Boy, 29th Jul, 2015.

  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    866
    Location:
    Darlinghurst Sydney
    I have religiously been looking for IP 's these last few months.
    It hasnt been easy, I have met the rudest the politest the baddest the nicest real estate agents.
    Now one thing I have learnt is to set a time limit.
    Early last month I had a real bitch of a Real Estate agent at a Saturday inspection,she actually remarked to another buyer that I could be a homeless guy that just wandered in.
    ,probaly because of my long hair and beard.
    Anyway i made her an offer on a property and actually showed her on my phone banking that I had the money.
    The price was 410k offers over.
    Seeing a lot of repairs needed as well as no one seemed interested i offered her 410 and subject to a building inspection before she snapped back its offers over 410 Sir !!!
    Well that was June 6th , last Monday she calls to say the owners have accepted my 410.
    I said " Darling do you hinestly think I have been waiting by the phone the last 5 weeks for your call, you had the chance,you blew it sweetheart"
    I offered her 390k she hung up on me.
    I made another offer on a Central Coast property last Monday but this time I put down a time limit of 48 hours.
    48 hours is up so if they get back to me now then unless im desperate to buy into a Central Coast Housing Commission suburb I will say times up.
    But now im recording time limits and texted the agent today at 12pm to say only 3 hours left until 48 hours is up , then again at 2pm and finally at 3pm to say only 1 hour left.
    The agent then responded that his client didnt accept my offer.
     
    Terry_w likes this.
  2. KDP

    KDP Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    246
    Location:
    Singapore

    Stop badgering the agent. Just make an offer and say it expires at this particular time. If they don't respond to you then the offer expires. You're just annoying the agent with the follow ups.
     
    Perp likes this.
  3. pinkboy

    pinkboy Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    910
    Location:
    Mackay, Qld
    Stop being a goose. This is Lake Munmorah all over again. You can't make it happen, you have to let it happen.

    pinkboy
     
    Patamea likes this.
  4. Big Daddy

    Big Daddy Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    470
    Location:
    Perth
    5 weeks lol
     
  5. SeafordSunshine

    SeafordSunshine Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    373
    Location:
    Sydney
    Sometimes its best to buy from the 'angriest' agent , because if they annoy you, they will do it to every one else as well,!
    I agree with make 'an offer and then leave them be',
    It leaves you in 'the drivers seat'
    It's also a game of who blinks first, loses,
    I hope this helps
     
  6. Beelzebub

    Beelzebub Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    562
    Location:
    Lost
    Make the agent like you. You never know they might start working for you instead of the vendor. Something like: "Hey mate, I'm putting in a timed offer as there are some other properties I don't wan't to miss out on if your guy doesn't accept. Hopefully he does though as I'm keen to pick this place up at this price point"

    Rather than: "My offer is x you have 48 hours to respond or the offer is void" followed by constant texts.

    Both achieve a timed offer, one doesn't make you look like a tool. Or maybe it does, I hope not though because that's along the lines of what I sent my agent.
     
  7. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    866
    Location:
    Darlinghurst Sydney
    Make the agent like you????????????
    What do others think?
     
  8. Chilliblue

    Chilliblue Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,578
    Location:
    Australia
    You need to make yourself likable and be the type of client that makes selling a property to easy for the agent.

    Gain rapport with the agent, make your offer with a sunset clause and be prepared to walk away if it does not happen.

    Otherwise it may be time to get a buyers agent.
     
    Perp likes this.
  9. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    898
    Location:
    Melbourne
    Don't do it as a religion - do it as a hobby - much more relaxing and fun ;)

    The Y-man
     
  10. Leo2413

    Leo2413 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    5,713
    Location:
    Sydney
    Its really important to build rapport. In my negotiations I have found that they are much more willing to work with you, even sometimes give you 'inside knowledge' if they 'like' you. Same thing in life. People will generally go above and beyond for other people they like. Being skilled at negotiating is really an art, imo. But definitely building rapport is key. Try and make them like you. Having a time limit on some deals is understandable and a good tactic, but you need to be careful on how you convey that, imo.

    Two really good books are, "Negotiating secrets", By David Brown and "The negotiation Book", by Steve Gates.
     
    Last edited: 30th Jul, 2015
    Perp likes this.
  11. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    516
    Location:
    Sydney
    You will get much further in the RE game building rapport and relationships in a positive way. Take the higher road and leave personal feelings/opinions out of it. Play smarter and always leave the door slightly ajar ;)
     
    Perp likes this.
  12. Perp

    Perp Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    455
    Location:
    Brisbane
    And never, ever, call an agent "darling" or "sweetheart", unless they're your wife or girlfriend.
     
  13. Patamea

    Patamea Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    120
    Location:
    Sydney
    @Biz what are your thoughts on this?
     
  14. Biz

    Biz Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,472
    Location:
    Sydney
    Darlo throwing his weight around, showing them who is boss by slapping them with a wet lettuce leaf.
     
    psylink, Shahin_Afarin and Perp like this.
  15. Chilliblue

    Chilliblue Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,578
    Location:
    Australia
    Lessons to be learnt here
     
  16. skater

    skater Capitalist Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,408
    Location:
    Sydney
    Agreed!

    This is my pet peeve. I hate it! Shop assistants do it all the time! Watch out if I'm in a bad mood!
     
    Perp likes this.
  17. Perp

    Perp Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    455
    Location:
    Brisbane
    But middle-aged and elderly men calling you "love" is totes OK, right?

    :D [ducking for cover]
     
  18. skater

    skater Capitalist Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,408
    Location:
    Sydney
    Of course, sweetheart!
     
    Perp likes this.
  19. skater

    skater Capitalist Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,408
    Location:
    Sydney
    Hubby laughs at me, because he knows how it irritates me! If he hears me call anyone 'love', sweetheart' or 'darling' he knows I'm in a bad mood.

    Seriously though, these are terms of endearment, to be used towards those people you care about. I find it extremely rude and condescending when a stranger uses it, and even more-so when they are half my age.

    I was in a particularly bad mood one day & let fly at some poor shop assistant who just couldn't understand when I said " I am not your sweetheart".:oops: She said well, what am I supposed to call you then? I said that you don't have to call me anything, or if you do, you could use Ma'am.
     
    Perp likes this.