"Agent declares Interest"

[Wandererone]

What exactly does this mean?
If I have my house listed with an agency and one of their people declares 'interest' won't that mean that my agent won't try and get the highest price because he wants his fellow agent to get the property?

 

[Big Will]

Interest is usually what someone has told the REA they thinking of paying.

E.g.

House advertised $500k

Buyer A - Would they consider $490k?

Interest 490k

Buyer B - I think they have under quoted the property, i think it would sell for $520k.

Interest $520k


Hope this helps

 

[Big Will]

Forgot to also mention interest means not an offer as yet.

If they had an offer it would be offer of x. Instead they are most likely saying interest in the mid, high, low whatever.

 

[turk]

Or would it mean that someone within the Agency is interested in purchasing.

 

[Terry_w]

Or would it mean the agent 'owns' the house or has a family member/company/trust in which they are involved have an owernship interest?

 

[Wandererone]

Or would it mean that someone within the Agency is interested in purchasing.

Thats what I thought?

 

[Big Will]

What is the exact line they said.

"We are seeing interest in the mid 500s?"

Or

"I have interest in the property" (If so ask what they mean).

Or

"I have personal interest in the property?"

You have to have interest before an offer. If there is no interest no offer will ever come.

After all who puts in an offer on something with no interest to themselves?

 

[Nemo30]

Ive always thought it meant the agent has some personal interest in the property - ie. he/she or a family member owns it.

 

[Wandererone]

Sometimes when you look at an ad on the internet somewhere in the ad it will say "Agent declares interest" which I take to mean the actual agent selling the property or someone within that agency is interested in buying it for themselves?
Like here..........
http://www.realestateworld.com.au/real-estate/view/1524689.aspx

 

[pinkboy]

Or would it mean the agent 'owns' the house or has a family member/company/trust in which they are involved have an owernship interest?

I agree with Terry here. The agent is declaring they hold some type of interest in the property, and are most likely selling it on behalf of themselves or a related party.

Ask the agent, or it could possibly be reflected in their commisions, where they may not declare their own commision, just the agencies cut (ie, it would be lower than normal rate).


pinkboy

 

[turk]

The OP refers to the house as his house listed with an agency, the agents interest would be himself or a related party having an interest in buying the house.

 

[Big Will]

Sometimes when you look at an ad on the internet somewhere in the ad it will say "Agent declares interest" which I take to mean the actual agent selling the property or someone within that agency is interested in buying it for themselves?
Like here..........
http://www.realestateworld.com.au/real-estate/view/1524689.aspx

No idea, why not just call them?

It could mean there is interest (other parties), they have personal interest (but why publish it), didn't complete the sentence "Agent declares interest in mid 700s". Again not something I would publish.

Pick up the phone and call your REA and seek clarity.

 

[DaveM]

Ive always thought it meant the agent has some personal interest in the property - ie. he/she or a family member owns it.

This is correct. Agent declaring interest means agent has a personal financial or legal interest in the property.

 

[Of The Vultures]

^ +1
exactly as DaveMSydney said.

 

[Risky Business]

Atleast the agent is declaring an interest. I went and had a look at a property which was owned in the RE's name. Did my pricefinder checks before hand. Agent never disclosed. I never asked. It was funny hearing him discuss the owner in the third person and from memory the owner had given him clear instructions. I had a chuckle to myself afterwards. DYOR.

 

[The Fence]

Atleast the agent is declaring an interest. I went and had a look at a property which was owned in the RE's name. Did my pricefinder checks before hand. Agent never disclosed. I never asked. It was funny hearing him discuss the owner in the third person and from memory the owner had given him clear instructions. I had a chuckle to myself afterwards. DYOR.

I thought not declaring interest in the above case would be illegal...?

Back to the OP.
So if the OP is selling the house and the agent is advertising that it has an interest in it then please explain...?

 

[The Fence]

What exactly does this mean?
If I have my house listed with an agency and one of their people declares 'interest' won't that mean that my agent won't try and get the highest price because he wants his fellow agent to get the property?

I see now....if.

Agent declares interest is as others have stated, the agent is selling the property or has an interest in it's ownership.

 

[travelbug]

Big Will- It is law to advertise if the agent has an interest in the property.
I looked at a unit once where the agent told us a guide price. We did all the DD etc. Didn't notice anything on the contract.
Interest can be (as mentioned) that they have an interest in the ownership or wish to purchase.

Then when it went to auction the agent declared that a partner in the company was also a director of the company that owned the unit.

Needless to say the auction suggested opening was MUCH higher than the guide price we werre quoted. They wouldn't even let anyone make an opening bid lower that "their" price. I was new to the game but if it happened to me now I would be puting in a formal complaint.