Little white lies you've told to secure a property

[LeoT]

[QUOTEWattleIdo;1226102] . Negotiation skills and lies aren't the same thing.

The storys/drama/lies etc we tell is what hopefuly gives us an in and hopeully puts us in a stronger negotiation position if done right with a bit of luck. They really go hand in hand. The 'lies' if you will, precede the then negotiation. Hopefully the 'lies' have been successful to some extent to have then transfered more power to yourside before negotiations. I see it all as part and parcel.



. But why lie for the sake of it. It's transparent.

If your transparant then its game over. So better hope your not.


Eg. I'm thinking that your business partners are M&D?[/QUOTE]

Who are M&D? ...dare i ask..

 

[TMNT]

true story:

asking price $270-$280k

I offered $250k, got laughed at

then offered $261k, got rejected because due to multiple offers within the price range and it would sell by the end of the day

(this agent is notoroious for lying both to vedors and buyers, the number of times they have said they got an offer in the over inflated price range , to only call back in a few days and say they have pulled out is laughable)

i actually decided that at $261k it was overpriced (I actually made a mistake of how much it was worth) and its only worth about $240k,

a friend calls teh agent and asks if it has sold, and apprently the multiple offers have all gone, and that their new bottom price is $260k,

yet, the agent doesnt call me back to see if I am interested in my original offer!

 

[LeoT]

yet, the agent doesnt call me back to see if I am interested in my original offer!

Yeah doesn't surprise me anymore TMNT. I realise that only 5-10% of ppl are really interested/very competent at whatever industry their in.

Another true story.

Asking 740k
Offered 620k (I know there was another offer for 650k same time for a fact)
Countered 630k
Accepted. (agent basically said in confidence that the other guy ticked him off making him wait 45 mins to show the place a second time. Otherwise he would have accepted the 650k. Can you believe that? I **** you not.

I valued it to be worth at least 700k.
Agent said reason vendor wanted to sell fast as well was because she felt sad to see her beautiful landscaped house (and indeed it was) wither away while she was waiting for a sale. She was too old to look after it.

So because the agent got the ***** with another buyer, he sold it for 20k less to me. Unbelievable.

 

[Deltaberry]

Yeah doesn't surprise me anymore TMNT. I realise that only 5-10% of ppl are really interested/very competent at whatever industry their in.

Another true story.

Asking 740k
Offered 620k (I know there was another offer for 650k same time for a fact)
Countered 630k
Accepted. (agent basically said in confidence that the other guy ticked him off making him wait 45 mins to show the place a second time. Otherwise he would have accepted the 650k. Can you believe that? I **** you not.

I valued it to be worth at least 700k.
Agent said reason vendor wanted to sell fast as well was because she felt sad to see her beautiful landscaped house (and indeed it was) wither away while she was waiting for a sale. She was too old to look after it.

So because the agent got the ***** with another buyer, he sold it for 20k less to me. Unbelievable.

Wow. I wonder if that's even legal. ie breach of fiduciary duty

 

[LeoT]

Wow. I wonder if that's even legal. ie breach of fiduciary duty

HI Delta B,

Your absolutely right.

I have no faith in REAs. Period. Whether buying or selling. Most of them will look out for their own interests first. Don't blame them, its human nature. As a buyer, one of the best ways to get what you want, is to show the REA how you will help him get exactly what he wants. As investors we need to understand this, accept this, and then manage the **** out of them at every step.

 

[BayView]

Hang on - aren't all you investors making these low offers those same investors who are greedy, and forcing up the prices?

 

[LeoT]

Hang on - aren't all you investors making these low offers those same investors who are greedy, and forcing up the prices?

ahh,, are you serious with your post? or am I missing something..

 

[Jaggannath]

Wow. I wonder if that's even legal. ie breach of fiduciary duty

Agreed, I would have reported the agent to their Institute once the sale went through

 

[ZachAnSel]

Both me and my wife usually play "not know each other".

It start when wife interview the agent, list down all the questions to find out the main reason seller have to sell. I have to admit wife better in fishing.
Then she submit low ball, if not accepted then she put counter offer. If rejected again, then we give few days break, and I will contact the agent. Similar process apply with different list of question.

I put low ball but not exactly same number as my wife. If this strategy work, vendor will think this is market value. And vendor dont want to lose another potential buyer.

This strategy not always work, especially in uptrend market but we enjoyed the process.
We bought $400k, 3br house 2010. While similar house sold $450k, in 7months bank revalue at $460k

Same strategy help us purchase $320k, 2 br unit 2012. While next door sold $350k same condition.

 

[LeoT]

Both me and my wife usually play "not know each other".

It start when wife interview the agent, list down all the questions to find out the main reason seller have to sell. I have to admit wife better in fishing.
Then she submit low ball, if not accepted then she put counter offer. If rejected again, then we give few days break, and I will contact the agent. Similar process apply with different list of question.

I put low ball but not exactly same number as my wife. If this strategy work, vendor will think this is market value. And vendor dont want to lose another potential buyer.

This strategy not always work, especially in uptrend market but we enjoyed the process.
We bought $400k, 3br house 2010. While similar house sold $450k, in 7months bank revalue at $460k

Same strategy help us purchase $320k, 2 br unit 2012. While next door sold $350k same condition.

I love it!!

 

[LeoT]

Agreed, I would have reported the agent to their Institute once the sale went through

no... I keep agents like this on my database for " first to go to" when I'm back investing in that state/area. Also it's happened before that I got some good deals again from similar type agents. Their gold.

 

[Truly Exotic]

Little White lie

Me to agent: "I trust you" or "I think you are different to other agents"

 

[WattleIdo]

Little White lie

Me to agent: "I trust you" or "I think you are different to other agents"

OK fair enough, I use that one too.

 

[VYBerlinaV8]

I don't do any of this.

 

[Jaggannath]

no... I keep agents like this on my database for " first to go to" when I'm back investing in that state/area. Also it's happened before that I got some good deals again from similar type agents. Their gold.

See, I think you have a duty to the community to out these people for being unprofessional, it can be hard for a seller to get a feel for how the agent is representing them, especially if they're the more vulnerable members of the community. You've benefitted from it, and at some point I would like to think I'd do my best to protect others from people like him.

 

[SeriousSam]

Jaggannath,i don't think so...There are agents that offer listings poorly and agents that sell accordingly...And pfft @ no duty of care.

At the end of the day,what is ripe,is ripe for the picking...It is those that buy the good grapes from the bad...Poor agent buy from,gun agent sell to.

 

[LeoT]

I'm gonna have to agree with sam in this. How agents conduct themselves is their own business.

I'm not the REA police. I'll let others get caught up in all that nonsense. I'll stick to property development.

 

[S.T]

Jaggannath,i don't think so...There are agents that offer listings poorly and agents that sell accordingly...And pfft @ no duty of care.

At the end of the day,what is ripe,is ripe for the picking...It is those that buy the good grapes from the bad...Poor agent buy from,gun agent sell to.

You're back!

 

[Jaggannath]

Jaggannath,i don't think so...There are agents that offer listings poorly and agents that sell accordingly...And pfft @ no duty of care.

At the end of the day,what is ripe,is ripe for the picking...It is those that buy the good grapes from the bad...Poor agent buy from,gun agent sell to.

There's a difference between being bad at your job, which is just part of the game we all play, and having an REA wilfully rip someone off on a power trip. You shouldn't lose, hence why I said after the sale went through, but personally I wish the world would hold these people accountable. Just my perspective, I don't expect others to agree.

 

[chausta]

white lie- I'm a cash buyer
Well maybe if you sell it for half the market price.

Every agent is different, but I do notice that they don't take me seriously because I dress like a bum and look too young When I got looking with my parents, they seem to be more interested.