A colleague, who is a cash buyer & doesn't require finance, tried calling one of the agencies mentioned earlier this week in this thread. Desperate to make an offer, he called 3 times over a week. The agent didn't bother calling him back. The house my friend wanted to buy sold 6 weeks later for less than what he was prepare to offer for it.
Can you see what i mean? It is plain dumb to ignore prospective buyers by not returning their calls. This sort of thing just drives house prices down. And that suits agents just fine .....cheaper houses are easier to sell, which means faster commissions. Agents then delight in using the lowest price precedents to persuade local owners that "the market is falling".
No it is not a conspiracy. It is just about self-interested twits wanting a quick buck. Their commissions are more important than our investments. Most local agents rent. Many have bad credit and are unable to obtain loans. That should tell you something.
Blah Blah Blah. I think your generalising and you obviously dont live in Melbourne. I invest in Frankston but live in Aspendale. Frankston has its issues of which distance to the city is my main one. But there are many other great features of Frankston. These are priced well in current valuations. Frankston also has many markets within the frankston market.
I look forward to more of your ranting about agents. Before you suggest i am an agent. I am not. I too distrust them and agree with a lot that Jenman has to say.
But they are not the reason Frankston prices are what they are in relation to other surburbs in Melbourne.