Why do Agents do this stuff...
- Thread starter nortywon
- Start date
IMO the only way it will get cleaned up is if dodgy agents start being reported. The regulatory bodies have measures in place, but if no one makes any complaints then nothing is done. Fair trading isn't great either.. but i am sure if they got a few complaints about the same agent something would be done... NOt that we like dobbing but we have had to send anonymous info to them a few times because some of the misrepresentations and underhanded tactics we have seen just go beyond a joke...
Also i agree with one of the other posts here... it is too easy to become an agent and keep your accreditation. You CANT fail the course. They make sure you dont. Answers are given at the inital course and the professional development... i personally dont agree with it... it makes it easy for agents to stay in the game. It is a professional and when done properly it requires skill and alot of work. An agent should be able to do a better job then the vendor could do by themselves because they are doing it full time! It isn't just opening a door and if someone wants to make an offer great!
Anyway i cannot spend my time focusing on the dodgy agents, while it is annoying, i am much more interested in my own self development and ensuring that i do the right thing.
Also i agree with one of the other posts here... it is too easy to become an agent and keep your accreditation. You CANT fail the course. They make sure you dont. Answers are given at the inital course and the professional development... i personally dont agree with it... it makes it easy for agents to stay in the game. It is a professional and when done properly it requires skill and alot of work. An agent should be able to do a better job then the vendor could do by themselves because they are doing it full time! It isn't just opening a door and if someone wants to make an offer great!
Anyway i cannot spend my time focusing on the dodgy agents, while it is annoying, i am much more interested in my own self development and ensuring that i do the right thing.
Simon, THeAnalyst, Alabex....all spot on!
It is too easy for the dodgy to join and remain...however, the good ones must concentrate on what they are doing and stay true to their beliefs. The long road is hard travelled!
Alabex...good luck mate, keep up the good work and Boomtown say Very Best of Luck to your brother (where will he be based, we are looking for decent staff...as always!!)
It is too easy for the dodgy to join and remain...however, the good ones must concentrate on what they are doing and stay true to their beliefs. The long road is hard travelled!
Alabex...good luck mate, keep up the good work and Boomtown say Very Best of Luck to your brother (where will he be based, we are looking for decent staff...as always!!)
Nortywon I have often thought i would love a seachange to QLD... have had my most memorable holidays 4wding at Rainbow Beach so if i ever stop dreaming and pull up stumps for the sunshine i'll hit you up for a job
I think you're all mistaken (changed from "wrong" ), heres why:
The only bad real estate agents are the ones that get caught out. And that's just the tip of the ice berg.
Its the way the whole RE industry works. There isnt one RE agent that doesn't lie. A 100% honest agent finds it hard to work within the industry as its so corrupt.
The vast majority of property buyers and sellers have their pants pulled down, they just don't know it as they don't know how the industry operates.
You often see when a RE agent has been caught being unethical/illegal etc.
They say things like "we need to drum these cowboys out of our industry" and "These few bad apples make our whole industry look bad"
Well the fact is the whole RE industry is unethical, and its a common practice.
Its just the few cowboys are the ones that are caught out. And only a very small percentage get caught out.
I expect a torrent of denials etc but i know enough about how the industry works after a LOT of transactions over 20 years . Lots research and study and i know (and have known) a few agents to get the skinny on how the industry works.
Here's an industry joke:
Q: What do you call a RE agent with no listings.
A: Honest
There's a lot of truth in jokes.
), heres why:The only bad real estate agents are the ones that get caught out. And that's just the tip of the ice berg.
Its the way the whole RE industry works. There isnt one RE agent that doesn't lie. A 100% honest agent finds it hard to work within the industry as its so corrupt.
The vast majority of property buyers and sellers have their pants pulled down, they just don't know it as they don't know how the industry operates.
You often see when a RE agent has been caught being unethical/illegal etc.
They say things like "we need to drum these cowboys out of our industry" and "These few bad apples make our whole industry look bad"
Well the fact is the whole RE industry is unethical, and its a common practice.
Its just the few cowboys are the ones that are caught out. And only a very small percentage get caught out.
I expect a torrent of denials etc but i know enough about how the industry works after a LOT of transactions over 20 years . Lots research and study and i know (and have known) a few agents to get the skinny on how the industry works.
Here's an industry joke:
Q: What do you call a RE agent with no listings.
A: Honest
There's a lot of truth in jokes.
Last edited:
What I posted was my genuine experience.
How can it be wrong? or didn't you literally mean that we are all wrong?
sorry, maybe i should edit that. What i meant is that everyone believes there are a few bad apples in the RE industry that make the whole industry look bad. Thats wrong but nobody realises it and RE agents love to promote that fallacy.
Thats the bit where people are wrong, sorry "mistaken". I will re word it.
Thats the bit where people are wrong, sorry "mistaken". I will re word it.
What I posted was my genuine experience.
How can it be wrong? or didn't you literally mean that we are all wrong?
well - i'll go against the trend and state that i only use one selling agent in newcastle (don't care who i buy from as long as it's a good deal).
she is ethical, hardworking, great at communicating, is a very nice motherly type of person (so gets buyers trust) and tries to get every last dollar for me when she sells.
also only charges 2.2% INCLUDING all advertising and marketing.
she is a great rea - but she has also been in the game for decades, so is old school (not fly by nighter).
she is ethical, hardworking, great at communicating, is a very nice motherly type of person (so gets buyers trust) and tries to get every last dollar for me when she sells.
also only charges 2.2% INCLUDING all advertising and marketing.
she is a great rea - but she has also been in the game for decades, so is old school (not fly by nighter).
I also have one I have used three times. She is exactly as Lizzie describes plus she knows my area inside out and almost everyone living there it seems.
I would trust her implicitly. Her staff all seem as good.
Cheers,
Simon and Lizzie - good to hear some positive stuff - glad you have had good experiences and found trustworthy agents...there are some out there Evand!!! (although i will concede as far as saying they are certainly in the minority...could I be as bold as to say:
25% - Crooked, dodgy out for themselves, however you wish to phrase it
50% - not crooked just incompetent and no good at the job they do
25% - hard working and ethical
Thanks to everyone for their comments - i really appreciate your thoughts and the time you have taken to participate.
PS Alabex - love to hear from you!! Some exciting stuff going on up here and there is almost no competition as the local agents are in the other 75% to you and I!!!
25% - Crooked, dodgy out for themselves, however you wish to phrase it
50% - not crooked just incompetent and no good at the job they do
25% - hard working and ethical
Thanks to everyone for their comments - i really appreciate your thoughts and the time you have taken to participate.
PS Alabex - love to hear from you!! Some exciting stuff going on up here and there is almost no competition as the local agents are in the other 75% to you and I!!!
My second IP was a $390k townhouse in Mentone.
Sold it in 2003 for $455 after owning it 2 years. Neg gearing was killing us.
I decided to sell it myself, got a few enquiries from buyers, and a lot of attempts by agents to get a listing.
I offered all of them this deal; $5k to have the listing, but only for 30 days and no advertising unless they paid for it. I already had a sign out the front, so all they needed were a few flyers and a photo in the window.
No one took the deal. Not enough time and/or commission.
All they had to do was put a photo in their window, answer the phone or talk to a buyer who walked in and enquired and make $5k for bugger all work, and it was a listing they didn't previously have.
Sold it myself, gave the buyer a $5k discount for a short settlement and everyone was happy - except about 6 local agencies.
Agents need to get realistic. Selling ONE house is not worth any more than $5k - no matter what the house is worth. Maybe if it's a house worth $100 mill like The Donald sold earlier this year.
But let's face it, most houses sold are going to be to average owner/occupiers who aren't zillionaires.
I worked as an agent for a short time (hated it), and the amount of work required to make a sale is not that hard, and not that high in volume of hours.
Add to that the fact that Vendors expect to get top dollar for their property (as promised by the agent), but they rarely get that figure, so why should they be paid anymore than $5k?
I think you'll find flat fee agents will take a bigger share of the market over the next few years.
Sold it in 2003 for $455 after owning it 2 years. Neg gearing was killing us.
I decided to sell it myself, got a few enquiries from buyers, and a lot of attempts by agents to get a listing.
I offered all of them this deal; $5k to have the listing, but only for 30 days and no advertising unless they paid for it. I already had a sign out the front, so all they needed were a few flyers and a photo in the window.
No one took the deal. Not enough time and/or commission.
All they had to do was put a photo in their window, answer the phone or talk to a buyer who walked in and enquired and make $5k for bugger all work, and it was a listing they didn't previously have.
Sold it myself, gave the buyer a $5k discount for a short settlement and everyone was happy - except about 6 local agencies.
Agents need to get realistic. Selling ONE house is not worth any more than $5k - no matter what the house is worth. Maybe if it's a house worth $100 mill like The Donald sold earlier this year.
But let's face it, most houses sold are going to be to average owner/occupiers who aren't zillionaires.
I worked as an agent for a short time (hated it), and the amount of work required to make a sale is not that hard, and not that high in volume of hours.
Add to that the fact that Vendors expect to get top dollar for their property (as promised by the agent), but they rarely get that figure, so why should they be paid anymore than $5k?
I think you'll find flat fee agents will take a bigger share of the market over the next few years.
Last edited:
http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007292490
Property ID: 2007292490
TOP FLOOR
A very well kept registered 2 bedroom unit that has been converted to a 4 bedroom by the owner ( With no Strata Approval).This well presented unit features Modern kitchen & Bathroom.Large balcony, double lock up garage & security block.All located within walking distance to shops & station.
Call us to inspect today!!
LOL +1 for agent!!!
Property ID: 2007292490
TOP FLOOR
A very well kept registered 2 bedroom unit that has been converted to a 4 bedroom by the owner ( With no Strata Approval).This well presented unit features Modern kitchen & Bathroom.Large balcony, double lock up garage & security block.All located within walking distance to shops & station.
Call us to inspect today!!
LOL +1 for agent!!!
Oh so very tempting!!! Although it is a beautiful day today here on Sydney's Northern beaches....
Similar threads
