Browse Forums Real Estate Re: Made an offer on a property - were we played by the RE. 21Apr 17, 2011 6:00 pm not all agents are ******* but a good % of them are. they come in all shapes, sizes, age but one thing in common, they act unethically.. and often hiding behind the veil of "getting the best price for the vendor". great isn't it. "I'm getting the best price for the vendor, and therefore i can treat everyone else like a piece of crap". having purchased real estate in many countries in the world, i have to say this, australia's real estate agents take the prize for being the most unethical. Singapore is probably one of the better ones. Re: Made an offer on a property - were we played by the RE. 22Apr 20, 2011 10:38 pm If everyone is having so many issues with agents, then start being proactive and using the relevent authorities to make a formal complaint, and have those d;;;y people dealt with accordingly. Don't sit back and complain about being ripped off by one person and then generalise about the whole industry. Those agents run the risk of having their licence or registration suspended or even cancelled for life. Governing bodies will never be able to clean it up to your satisfaction until people start doing something about it! Oceanic with Nautilus upgrades. Handover 8 September 2010 Re: Made an offer on a property - were we played by the RE. 23Apr 20, 2011 11:40 pm The governing body you speak of here in VIC is Consumer Association Victoria. CAV is a toothless tiger. Prosecution rates are appalling (less than 1% relative to complaints) and i think the general excuse is lack of evidence. I don't believe this to be the case though because some agencies clearly flaunt the laws by engaging in illegal "pricing plus" and other borderline stuff. Granted, the industry has come a long way from phantom / dummy bids and downright criminal activity (all in the name of getting the best price for the vendor), we still have a long way to go. Maybe things are really rosy in WA, certainly not fantastic here in VIC. It doesn't bother me, because I am familiar with the games the agents play. But i do know quite a number of people who have been burnt or missed out because of agents getting in the way, and i also know of vendors who got screwed by their agents, who didn't get them the best price. and frankly speaking, quite skeptical of people who tell me agents are just getting the best price for the vendor. I think only agents themselves actually believe in that BS. Seriously, most agents just aren't that professional. Re: Made an offer on a property - were we played by the RE. 24Apr 21, 2011 6:08 pm Whenever dealing with agents, keep in mind that it is in THEIR best interest to get the property sold. Getting as high a price as possible is not the priority - the sale is! Only a stupid agent will risk an actual sale (their only source of income) when attempting to get a better price. Re: Made an offer on a property - were we played by the RE. 25Jun 11, 2011 10:16 am RE In Melbourne, Mate that is silly logic. You are stating that, in any job, people should take shortcuts to be paid? It doesn't take a stupid agent to work for a buyer to get a sale at all costs, it takes an unethical one. A smart agent will not deal with bargain hunters such as yourself and some other people on this post, and instead find nice people who are fair to deal with. All you people trying to get a house for much lower than market price should be actually thinking, what would I be feeling if I was the seller of this home? And not be so concerned with the agent... Re: Made an offer on a property - were we played by the RE. 26Jun 11, 2011 3:08 pm Also here is some good advice for the OP :- Decide which is more important – the home you love or the price you will pay. You don’t have to pay more than you can afford, just don’t be too clever or else you may miss the chance to buy the home you love. Re: Made an offer on a property - were we played by the RE. 27Jun 11, 2011 4:35 pm Has the house sold yet? When we bought our previous house, we put in an offer, the agent rang and said there were two other offers on the table, higher than ours. I said to him, well we won't go any higher, you know that's our highest offer. Rang me back a couple of hours later, can't you just go a bit higher, my answer NO. The next day he rang back one of the offers has been declined as they are not in a good position, can you offer another ten grand. NO. The next day, he rang back and said allthough the other offer was ten grand more than yours, they have decided to accept your offer as the owners liked you better Liked us better, I don't think so, they only seen us walk through the house. We bought the house, we loved it, but there is no way I was playing games with them, I said at the start, this is our one and only offer, our highest, don't ask for more. My FIL used to be in real estate Re: Made an offer on a property - were we played by the RE. 28Jul 24, 2011 10:17 pm deb17 We bought the house, we loved it, but there is no way I was playing games with them, I said at the start, this is our one and only offer, our highest, don't ask for more. My FIL used to be in real estate Good on you Deb I hope I've got the courage to do the same when it comes time for me to buy a home. It can be hard when you get emotionally attached to a house thinking that it'll be a good family home, but I think it's better to do what you did than play games with the agent. Re: Made an offer on a property - were we played by the RE. 29Aug 05, 2011 9:26 pm In Melbourne Whenever dealing with agents, keep in mind that it is in THEIR best interest to get the property sold. Getting as high a price as possible is not the priority - the sale is! Only a stupid agent will risk an actual sale (their only source of income) when attempting to get a better price. I wouldn't call them a stupid agent, I would call them an honest and ethical agent. The agent is working for the vendor and his job is to get the highest possible price. Moved in December 2010 Re: Made an offer on a property - were we played by the RE. 30Aug 05, 2011 9:43 pm You have been Gazumped Dictionary definition: Gazumping Gazumping is a term used in the UK and Australia when a seller (especially of property) accepts a verbal offer of the asking price from one potential buyer, but then accepts a higher offer from someone else. It can also refer to the seller raising the asking price at the last minute, after previously verbally agreeing to a lower one. In either case, the original buyer is left in the lurch, and either has to offer a higher price or lose the purchase. There is a common misconception that you are 'Gazumped' if you agree to buy a property for less than the asking price and then another buyer agrees to pay more than your knocked down offer.[1] We hired Darbecca to do every stage inspection, and I strongly recommend them to anyone that asks me. They were amazing. 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