realestate.com.au outrages price increases

[Pushka]

And in the overall cost in selling a house this increase is not even worth worrying about. Given re agents pass this on to the vendor I think you are more worried about other issues than a less than $50 increase. Crikeys I am charged more than that for that old nugget 'disbursements'

 

[Pushka]

Wow. Don't think I read about the part where your home sold for more than the reserve price? Whinger.

Ha funny you ask that mits who has made this his first post. It didn't sell above the agents recommended reserve price. We had to reduce it during the auction in order to sell. Boom tish.

 

[vbplease]

Real Estate overheads are enormous

Now who's fault is that???? Why should sellers foot the bill for agents that can't run a business economically?

They could stop with all the useless advertising at bustops/magazines etc, stop filling our letterboxes with their junkmail, and perhaps work from home as their office serves little purpose...

...how often does this happen - you walk into a re agents office as a buyer to see their listings, and maybe form a friendship (so you can hear about sales before they're listed on re.com), only to be told to go home and look on re.com... I'm tempted to ask them what is the point of their office? Buyers aren't welcome, and sellers can be visited at their home.

Sorry to continue the agent bashing, but i can't think of any other service where you pay so much and get so little..

 

[BoatBoy]

Ha funny you ask that mits who has made this his first post. It didn't sell above the agents recommended reserve price. We had to reduce it during the auction in order to sell. Boom tish.

Did the agent drop their fee for failing to get the price they said they would get ?

Dave

 

[evand]

I think the reason agents fees are so high is because the inefficiency in the way they sell 'market' property. Advertising is actually the most expensive, least efficient way to sell anything.

The high comm. fees for one sale has to compensate for all the non sales and office overheads.

 

[Alabex]

lets have a poll!! agents on this forum - how many drive a luxury car versus everyone else here and lets have a look at the %'s.
QUOTE]

i drive a honda civic, which is new relatively new because my Jazz blew up last year.

Other agents in the office have: two corollas, a honda jazz, a mazda 3, a nissan murano, and a Rav4... all are around 05 models....

In fact there are very few bmws and the like in our area and you will find that the northern beaches of sydney has some of the highest selling agents in NSW. there are a couple of course, but most agents drive small economical cars.

 

[Pushka]

Did the agent drop their fee for failing to get the price they said they would get ?

Dave

As if.....

 

[mits]

Quote:
Originally Posted by mits
Wow. Don't think I read about the part where your home sold for more than the reserve price? Whinger.

Ha funny you ask that mits who has made this his first post. It didn't sell above the agents recommended reserve price. We had to reduce it during the auction in order to sell. Boom tish.

First or millionth who cares. As for reducing your reserve it was recommended. You didn't have to reduce it. Why use an agent anyway? Sell it yourself!

 

[Pushka]

Wow. Don't think I read about the part where your home sold for more than the reserve price? Whinger. !

It didn't sell above the agents recommended reserve price. We had to reduce it during the auction in order to sell. Boom tish.!

First or millionth who cares. As for reducing your reserve it was recommended. You didn't have to reduce it. Why use an agent anyway? Sell it yourself!

Just answering your first post mits, I didnt raise the issue of the reserve price, you did.

Just seems a strange thread to start with, most first posts are a question.

 

[mits]

Just answering your first post mits, I didnt raise the issue of the reserve price, you did.

Just seems a strange thread to start with, most first posts are a question.

Thought i was replying as a post and not starting a new thread. Apoligise if there was any confusion.

 

[urban cowboy]

Now who's fault is that???? Why should sellers foot the bill for agents that can't run a business economically?

woah...another sweeping generalisation - know a bit about running a realestate office do you??? that is a ridiculously ignorant statement.

They could stop with all the useless advertising at bustops/magazines etc, stop filling our letterboxes with their junkmail, and perhaps work from home as their office serves little purpose...

and all you have to argue with is bustops/mags/junkmail??? c'mon, give it a rest...all businesses have to advertise and I bet you also get catalogues and other flyers in your letterbox too...oh wait, that's right only agents aren't allowed to do that...only agents advertise on busstops too - no other businesses...and as for magazines - gee I can't remember the last time i ever saw an ad in a magazine of any type that wasn't realestate related...apparently we aren't allowed to advertise now either hey? how pathetic. Given realestate is a such a competitive industry, without advertising you are dead in the water.

take those issues out of the equation though - and the costs are still prohibitive...oh what's the point - you seem to know everything about everything anyway...

...how often does this happen - you walk into a re agents office as a buyer to see their listings, and maybe form a friendship (so you can hear about sales before they're listed on re.com), only to be told to go home and look on re.com... I'm tempted to ask them what is the point of their office? Buyers aren't welcome, and sellers can be visited at their home.

never at my office - several folks on this forum know they can (and do) call me whenever they like for info and i happily give it to them! You want to know about listings we have? I would be happy to sit down over a cuppa with you and tell you all you want to know...

as for listings not on re.com - that is rare, we normally got them up same day as listed...if there were listings coming up that weren't signed yet however, there is no way i would talk to you about it - IT'S ILLEGAL!

Sorry to continue the agent bashing, but i can't think of any other service where you pay so much and get so little..

again - very subjective...bought a car/whitegoods/food lately??? all have massive markups - some items such as jewellery and fast moving consumer goods (FMCG's) often have a markup of a couple of hundred percent - but gee you're not getting ripped there are you...

seems you are paying way too much and getting little there - but what would i know - i am just a dumb agent out there to rip people off!!

 

[urban cowboy]

i drive a honda civic, which is new relatively new because my Jazz blew up last year.

Other agents in the office have: two corollas, a honda jazz, a mazda 3, a nissan murano, and a Rav4... all are around 05 models....

In fact there are very few bmws and the like in our area and you will find that the northern beaches of sydney has some of the highest selling agents in NSW. there are a couple of course, but most agents drive small economical cars.

I drive a honda jazz - others in my office drive a commodore, corolla, 10yo lexus (a bomb) and a mazda 3. The owner drives a 3yo lexus

1 luxury brand - one so old it doesn't count - the other newer is the business owners car - still only a 50k car though and on a lease.

 

[Alabex]

I drive a honda jazz - others in my office drive a commodore, corolla, 10yo lexus (a bomb) and a mazda 3. The owner drives a 3yo lexus

1 luxury brand - one so old it doesn't count - the other newer is the business owners car - still only a 50k car though and on a lease.

yay for the hondas hey?? i think they won... was this a competition? everything is a competition!!



On another point - there is a lot of agent bashing on this site, most of which i stay out of and try not to get involved in - so kudos to you Urban Cowboy for making a stand and saying all the things i am often thinking. But it begs the question - would the majority of people on this forum prefer if there wern't agents here? I am sure we sometime provide people with useful information???

 

[Perp]

would the majority of people on this forum prefer if there wern't agents here? I am sure we sometime provide people with useful information???

I consider agents as valuable team members, and I'm glad that at least a few of you have persisted and stuck with the site. I find the agent-bashing tiresome and pointless. As with all professions, there are good and bad. The great thing is, in our country, if you don't want to use one, then don't. But I don't see why people bother venting about the cost/quality of professionals that they're not required to use.

Agents are at the coalface of the market, and best positioned to observe what's happening over a broad range of buyer types. As such, they have a unique and valuable contribution to make to investors, and forums (or is that fora? ) such as this one.

Please stick with us, and ignore the sniping.

 

[urban cowboy]

it would seem the Honda's are popular!!

mate there is a lot of agent bashing - but there is also a LOT of good folks here who appreciate what we know when we offer it up freely and without prejudice or trying to attract business.

I have made some good friends on this forum over the years and I value them greatly!

I do ignore a lot of the agent bashing - but occasionally i do like to put our side of the argument forward when the claims made are gross exaggeration or just plain wrong. There are enough new folks here trying to learn about how to do all this stuff and the last thing they need is misinformation from a few folks with a chip on their shoulder.

cheers
UC

 

[vbplease]

take those issues out of the equation though - and the costs are still prohibitive...oh what's the point - you seem to know everything about everything anyway...

I haven't got a degree in marketing, so I'm not claiming to be a know it all.. but it doesn't take Einstein to see that adverts of an agents smiley face with a phone number shouldn't be enough to differentiate him/her as a good agent from the next... and how useful is the glossy piece of paper in the mail showing no more information than a group of photos with a sold signs in front??? Do agents really think this is enough for the average joe to trust them selling their largest asset? gimme a break..

Adverts from retailers showing products and prices serve a purpose, adverts from re agents showing smiling faces and sold signs are a waste of time and money - funded by the buyer, and can start flooding the letterbox the same week and from the same agent you buy from.

As told to me by a re agent "houses sells themselves". All you need is a portal like re.com and you can see how redundant agents become.. classic example is the agent who tells me to go home and use the internet..

as for listings not on re.com - that is rare, we normally got them up same day as listed...if there were listings coming up that weren't signed yet however, there is no way i would talk to you about it - IT'S ILLEGAL!

That's a shame, the one time I can see a purpose for agents and it turns out to be illegal..

seems you are paying way too much and getting little there - but what would i know - i am just a dumb agent out there to rip people off!!

I'm not questioning your intergrity UC, I'm just trying to point out how redundent your industry is and what little value for money people get

 

[vbplease]

Please stick with us, and ignore the sniping.

I don't see what I'm doing as sniping.. For the record I value the input of agents on this forum!! Sorry if I offend..

 

[urban cowboy]

it doesn't take Einstein to see that adverts of an agents smiley face with a phone number shouldn't be enough to differentiate him/her as a good agent from the next...

it doesn't - it's designed to let the home owners know you exist so you get the call to come and have a chat - that is where you get to compete against the other agents - and that is where the skill of presenting and selling yourself comes in.

and how useful is the glossy piece of paper in the mail showing no more information than a group of photos with a sold signs in front???

actually very...a good deal of leads come from them - just like the tree guy, the mower guy, the cleaner guy and whoever else puts them in your letterbox. just like the mower guy has no more info than his phone number. again, these are only a lead generator - the real work is when you call in five agents to talk to and compete so you can work out who is fair dink and who is a tosser

Do agents really think this is enough for the average joe to trust them selling their largest asset? gimme a break..

nope - never intended to...see response above

adverts from re agents showing smiling faces and sold signs are a waste of time and money - funded by the buyer

funded by the buyer how??? that is another odd statement - all this stuff comes out of the agents pocket. If you draw a really long bow on that one the buyer would fund EVERYTHING an agent does...actually - no...the seller would as the buyer doesn't pay our commissions - but the point stands.

As told to me by a re agent "houses sells themselves".

true to a point - but there is sooooo much more to it. re.com is only a small part of an agents arsenal in attracting buyers. The evidence here is the number of net only firms that are cropping up whose listings sell at much lower rates than standard agents who put in the hours to get buyers in the door - then the house sells itself.

remember - agents don't sell property - we market and negotiate...only the owner sells the house - they're the owner!!

classic example is the agent who tells me to go home and use the internet..

there my friend is an example of someone who should not be in the industry - with that we agree - but going back to my earlier response about the cuppa and chat!!??!!

That's a shame, the one time I can see a purpose for agents and it turns out to be illegal..

and that is our fault how?? or is that just your perceptions are skewed.

I'm not questioning your intergrity UC, I'm just trying to point out how redundent your industry is and what little value for money people get

you can do your own tax, your own conveyancing, arrange your own insurance, your own loans, import your own consumables...i guess that makes all those industries redundant too.

 

[TheAnalyst]

RE.com.au is a great tool and in my experience works much better than newspapers. although there is still a small minority of clients that look at papers only.

I am not sure about your claim "small minority" - paper advertising. At current market, I believe, most of people come to home open from paper advertising.

 

[jaycee]

This thread was started to highlight the excessive increases by re.com, I point out that these increases have not been a 1 off, 24 months ago the costs of the "feature property" feature was $60.00 in 24 months this has been increased to $95.00.

The subscription fees and other fees have also increased considerably during this period.

re.com have a virtual monopoly on internet real estate advertising, you have to be on re.com - this is the only site you need to be on - its the biggest - its the best - and its the price agents have to pay.

There are no winners in this, all costs are passed onto the vendors, and in fact re.com provides agents with glossy brochures to give to vendors highlighting the important of having their property with a border around it.

re.com has chosen possibly the worst time to increase the rates.



This thread was started to highlight the excessive increases by re.com, this thread has turned into an opportunity to bash agents.

but market rent for Dazz's commercial property went up 220% in about the same same period, what do you do ??