Another Real Estate Agent thread....

[andylo]

Okay, I am selling one of our house and unfortuantely I signed a 31 days contracts about 2 weeks ago with this ABSOLUTELY USELESS agent. Its almost like we need to give them every frigging single instruction from how to use internet (to post our ad), to how to introduce features of our house during house open day!

I have enough of it and I want to get released from the contract! I have heard that you can be released 2 weeks before the contract finish date without paying any fee. I am hoping its some sort of legistration and also hoping someone here had experience on such issue.

Thanks.

[PeteyD]

If you sell within their contract period they are entitled to commission, regardless of who sells the property (unless this has changed recently or you had those nasty clauses removed from the contract). You are generally stuft, unless you take the house off the market and do not sell within the period of their contract.

[andylo]

Thank you PD :)

[Choppa]

Only if it's exclusive which they always push for. I believe if it's only sole agency they don't get nothing if you sell it. I very well could be wrong though.

[markTHEblake]

Andy, pretty sure there is a cooling off period on sales agreements with the agents, but its only going to be a few days, so your passed it.

suck it in :-). 31 days is quite a short term for an exclusive contract.

In your area i would also recommend seeing Simon Black Real Estate (Beenleigh) - he is a good operator.

[andylo]

Sean Black? Where I am working just right next to him.

I feel kinda suspecious to use the non-big guys anymore.

I think I will go L J Hooker Logan after 31 days. It seems they are quite outstanding in the area.

[markTHEblake]

Andy, one of my investor clients uses Sean Black all the time and says he is great.

What is standing out in your area, is all the LJ Hooker brand advertising paid for by people that are selling their homes, and it obviously works, cos its attracting you :-)

[andylo]

It just that if I am going to pay the same amount comission anyway, I might find myself one that works this time.

The reason we go for the Gecko thingy was because they only charge 1/2 the price and I thought all the real estate agents are the same.

From what I knew (by asking each of them individually)

LJ Logan Sold 8 houses this week so far
Ray White 3
Remax, Elder etc sold NOTHING.
The Gecko guy we are using probably -100 :-p

So its looks like LJ is doing the best in the area.

[markTHEblake]

Commission is the same - advertising budgets are never the same. Agents make money out of your advertising budgets too, thats one reason why they promote it so heavily. (Ray White makes heaps out of advertising, but none of them will tell you how much)

[andylo]

Around $800 for 2 months.

And you only paid when the house settlement is done.

[markTHEblake]

nice,
though your still not going to listen to a friends recomendation are you? :-)

cant hurt to talk to the guy, can it - he is only next door.

[PeteyD]

I gave him one too and he ignored it. I don;t believe you should have to pay for RE advertising. It is only to promote the agent not your house (except in special cases).

[andylo]

1stly, I am actually going to talk to this guy next door during lunch anyway :)

I do listen to advice from friend... but when you getting way toooo deseperate, you just look at thing by result on paper.

Mark, my current situation is, we signed a contract on this expensive (but not expensive if you look at the suburb) house. The contract already become unconditional AND thanks to the useless agent our house is not sold yet. (While other sold their much crappier house for around the same price) We are actually challenging our limitation of our financial status!

Its not fun to pay a few mortgages (with 1 car loan) at the same time... unless we are making 300K p/a..... but we are not, and far far from it :(

[TS]

Andy. Sounds like you need a new agent and a new job as well.

[PeteyD]

Oh bugga. You need a fire sale

[3oneday]

Wasn't there a thread about selling before buying or something ?

I would have thought selling a house inside two weeks as more luck than good management/advertising/right agent ????

[andylo]

Situation here is a little different at the moment 3oneday.

Bogan houses are selling quite quickly down here.

[Choppa]

Sounds like you should buy Andy's place. Going cheap ;)

[Trung]

If I want to lowball his place do I do it thru him or the RE ?


Do it via the forum. We need some entertainment. :-k:smt038

[just]

Andy

Be realistic. Even in a hot market in Brisbane under two weeks in Brisbane is good luck more than good management and is exceptional. Under a month is good and one to two months is about average.
In a hot market the agent is almost irrelevant anyway, as long as your property is advertised in the correct publications (i.e. local rags) and internet, the buyers will find the property if it is at the right price. Ask your agent for an activity report-i.e. internet visits to your home, phone calls, amount of people taken through-to see how hard they are working for you.

Having said that, if you still want to get out of it find out what kind of listing you have-Sole, Exclusive or Open and proceed to the REIQ or Office of Fair Trading and then ask for advice and proceed from there.

[markTHEblake]

Mark, my current situation is, we signed a contract on this expensive (but not expensive if you look at the suburb) house. The contract already become unconditional AND thanks to the useless agent ...

dont tell me you signed that contract to buy without getting legal advice first?

you didnt even ask me, what happened mate? you used to ring me to get advice everytime you had an idea..... :lol:

[andylo]

Thanks Just. Very true comment and thanks for the info regrads to REIQ :)

MTB... I don't really got myself a chance to ring you... but I guess I have troubled you enough in the pass and you probably will avoid my call if you see its me anyway :lol:

story along the line... at one arvo 2 weeks ago... I suppose?

C: Honey, can you go to <address> at 5pm?
A: Okay, but what for?
C: I want to look at a house.

By the time I am arrived.... (about 15 mins late due to mini practice session)

C: sign you name on these piece of paper
A: WTF?! Can I at least have a look what is it look like 1st inside?!
C: I have seen it, its fine, we will renovate it anyway.
A: WT HYPER F? Do we got the money?!
C: We do, we have <insert a bunch of accounting terminology here> so we have these "virtual" money...
A: <fainted... and just sign the contract> whatever....

[amanda]

Bloody hell - to me it sounds like a mess! I'm pretty sure that the marriage handbook is meant to instruct the female to make the male at least feel like he had some say in the decision ;)

[andylo]

Well I get to buy whatever golf clubs I want to so I guess thats a trade off :)

[Fishman Dan]

I'm very happy for you.

[markTHEblake]

Andylo, if you want help with dealing with Real Estate agents, contact
http://www.realestatemonitors.com.au/

They will help you or give you advice for free

[3oneday]

http://www.realestatemonitors.com.au/ they will help youso, you clearly don't like them then ???

:lol:

[andylo]

Thanks MTB.