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Real Estate Agents

canberra_raiders2k2

First Grade
Messages
6,255
Can't get worse than my current agent.. Nearly everything on the online advertisement is wrong.. Dumb merkin.

I've sold a few in the past, the best agents have been realestate in the Asian districts. Strathfield sells quite quickly as does campsie.
 

_Johnsy

Referee
Messages
27,572
Over the moon, made an offer today & was accepted. Made an appointment before an open house, were the 1st people through.
Mudgeeraba 4 bed,2 bath, 3+ car, 12m+ lap pool, massive outdoor covered outdoor entertaining area. 2 min drive to Robina, 5-10 min drive to Broadbeach, close to rail M1 etc. Got it for 20-30k below market value IMO, if anyone knows Mudgeeraba on the GC they'll know exactly what I mean. Happy days
 
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_Johnsy

Referee
Messages
27,572
On a side note, always get a reputable & thorough building & pest inspection done. Don't always go the cheapest. Saved me about $40,000 in future works this morning.
 

muzby

Village Idiot
Staff member
Messages
45,768
On a side note, always get a reputable & thorough building & pest inspection done. Don't always go the cheapest. Saved me about $40,000 in future works this morning.

agree 100%

i paid $650 for one, and it uncovered so much structural damage with the house that couldn't be seen on a regular 'walk through' that we ended up pulling out of the contract.
 

Pantherjim.

Referee
Messages
21,589
The absolute worst thing you can do when picking an Agent to sell your property is go with a friend or some one you went to school with thinking that they will do you a good turn.... They won't and it will still be on the market 2 months from now.

Also; lower commissions and fees are to be avoided like the plague, as lower fees and commissions mean lesser marketing strategies.

Pick an Agency with a bigger team of Agents. (I.e. don't pick an Agency that has 2 Agents only) As some of these agencies will have over 20 properties on their books. After all, what sort of job are two Agents running around 20 open houses on any given Saturday going to do when it comes to selling your property?

Have a look on realestate.com.au and domain.com.au at the agents who are selling properties in your area, click on a few of the listings of those agents and have a look at their sales strategy. Put yourself in the buyers shoes and ask yourself; as a buyer, which listings are attractive (I.e. are the photos of the property good, does it include a floor plan? Do they have a video of the property?) For example, there's an excellent agent in Sydney's Hills area called; Harcourts. With almost every property they sell, they make a short video outlining the features if the property. They're really well done, and as a result, Harcourt's open houses usually have 10 + groups going through them on any given Saturday.

Also have a look at the sold properties in the last month on reslestate.com.au. Which agent has sold more properties? ( Although, choosing the agent on sales figures alone is sometimes not the best policy either)..... The Agents we went with had the highest sales in our area for January and Febrary 2013. However there were only two Agents working for this Agency. As they both had 20 + Open Houses on a given Saturday between the two of them, they really didn't do our property any justice.
 
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Lambretta

First Grade
Messages
8,685
What area are you in johnsy? because we have had only growth in western Sydney no prices are falling here

Doesn't it depend on the type of property?

For example, government incentives for new builds under a certain price means that the market for existing properties is softer because buyers can get a brand new home in one of the expansion suburbs for similar prices.

Yes the overall market has gone up - but some properties in some areas are facing softer pricing.


Anyway - I work in finance and the valuers are constantly returning valuations that are under owners expectations. Whilst they're not large amounts - the overall experience across Sydney has been rather flat for some time but there are signs that increases are starting to happen. Especially with the share market up by 25% in the past 12 months.
 
Messages
558
Currently an Agent in the Sutherland Shire.

Best tips I can give you for picking an agent are.

1. Have a look on Realestate/domain.com.au and see who is leading in your area and whose marketing stands out. Some agent’s properties will appear at the top of the list as they pay for this feature.

2. Attend their open homes and see what they offer. I treat my open homes almost as an interview to prospective vendors. A well run open can go along way to help selling your home.

Narrow it down to the best 3, and then have them out to interview them.
Let them know that you are having such and such agent out. Will keep them on their toes and help you get a better deal.

Fees are the question everyone asks and they think it is the most important thing to ask. They are wrong. Ask what marketing they do and how they will leverage value for your property. If they can get you $10,000 more then the other agent the work out free.
Also ask how they plan to run the sale. I.e. Auction or Private Treaty.
Some agents are great auction agents some are hopeless.

Remember the cheapest fee isn't always the best.

Most well tell you they have x buyers. Buyers do not stick by one agent they all look on the web/paper.

Paper advertising isn't as good as it use to be but it is still worth putting one ad in.

Don't listen to the media. They go off median house prices.

The market in the shire has been great for the last 4 years and hasn't slowed much at all. This applies to a few areas of Sydney.
 

abpanther

Moderator
Staff member
Messages
20,792
This is a great thread guys, some really useful info here

I'm about to sell a place, however it's in central NSW so not sure how much of this applies given the reduced competition out there, for example the first agent quoted me with 3.3% commission!
 

Lambretta

First Grade
Messages
8,685
This is a great thread guys, some really useful info here

I'm about to sell a place, however it's in central NSW so not sure how much of this applies given the reduced competition out there, for example the first agent quoted me with 3.3% commission!

The trick in regional areas when picking an agent is word of mouth. Try and spend some time on testimonials and trust the word of people you know who have done the same previously

I bought an investment property in Gosford last year and used an agent I was recommended to

I have never, in all my life dealt with an agent that was as open, honest and transparent as him

In regional areas your word is your bond and all other bullshit can go walk. If these guys go round screwing people word gets round and they run out of clients real quick

People that work at your local school or anyone with any local nouse will point you in the right direction
 
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abpanther

Moderator
Staff member
Messages
20,792
The trick in regional areas when picking an agent is word of mouth. Try and spend some time on testimonials and trust the word of people you know who have done the same previously

I bought an investment property in Gosford last year and used an agent I was recommended to

I have never, in all my life dealt with an agent that was as open, honest and transparent as him

In regional areas your word is your bond and all other bullshit can go walk. If these guys go round screwing people word gets round and they run out of clients real quick

People that work at your local school or anyone with any local nouse will point you in the right direction

Thanks mate for the advice

Yeah it definitely seems like in these rural areas the agents are a lot more open, this property is in Parkes BTW

Just wondering if I still go ahead with multiple market appraisals, independent assessments, etc. Or I just go with the recommended.

Also not sure how much I should try to negotiate that commission price down.

Some properties in the area were listed for over 300+ days prior to selling, I really don't want that so I'm wondering whether I need to negotiate a performance guarantee from them
 

Lambretta

First Grade
Messages
8,685
I suppose the length of time a property sits on the market depends on the type of property as much as the type of agent

If I were selling a premium property in Sydney for example I would consider McGrath
They have a premium feel about their advertising and their buyers look for a type of property and have certain expectations

If I were trying to sell a different type of property my choice of agent would differ

In most regional towns you will find an agent that stands out above the rest in the area you're selling in. Make sure you talk to them.

Talk to at least two other agents and see how they differ in their sales and advertising approach vs the incumbent king of sales

I recently considered selling my house and would have taken a smaller agent because I liked his approach and how he was going to market my property. But this approach was definitely a Sydney approach and may not work in Parkes. Local knowledge is once again the key.

I would probably go with the incumbent sales king unless there was a compelling reason not to do so.
 

abpanther

Moderator
Staff member
Messages
20,792
I suppose the length of time a property sits on the market depends on the type of property as much as the type of agent

If I were selling a premium property in Sydney for example I would consider McGrath
They have a premium feel about their advertising and their buyers look for a type of property and have certain expectations

If I were trying to sell a different type of property my choice of agent would differ

In most regional towns you will find an agent that stands out above the rest in the area you're selling in. Make sure you talk to them.

Talk to at least two other agents and see how they differ in their sales and advertising approach vs the incumbent king of sales

I recently considered selling my house and would have taken a smaller agent because I liked his approach and how he was going to market my property. But this approach was definitely a Sydney approach and may not work in Parkes. Local knowledge is once again the key.

I would probably go with the incumbent sales king unless there was a compelling reason not to do so.

Thanks for the feedback mate I really appreciate it

After a quick search of realestate.com, it seems R&W are the sales kings out there
 
Messages
17,035
I'm house hunting at the moment in Ipswich. But It's a sellers market and houses are selling like hot cakes. Any house we are interested in usually sells on the first open home. You don't even have time to sleep on a decision.

The real estate agents are useless. I put my name down with them at every open home and say what I am looking for. They never do follow ups.
 

Lambretta

First Grade
Messages
8,685
Thanks for the feedback mate I really appreciate it

After a quick search of realestate.com, it seems R&W are the sales kings out there

So get in R & W for a quote
Check out two others
Think about their marketing strategies and if they suit your property

Remember to ask a couple of local who seem to know everyone and their business and you should be selling in no time at all
 

abpanther

Moderator
Staff member
Messages
20,792
So get in R & W for a quote
Check out two others
Think about their marketing strategies and if they suit your property

Remember to ask a couple of local who seem to know everyone and their business and you should be selling in no time at all

Yeah I'm gonna get quotes and appraisals from all three, in terms of the appraisals, do the other agencies just contact the agency who is currently managing my property to organise access?

Yeah I've got a really good broker that I've used numerous times in Parkes so I'm gonna ask her for local advice on which agency is best.

In terms of the independent boutique agencies, is the general gist that they take on less properties, hence they charge more but get you more?
 

abpanther

Moderator
Staff member
Messages
20,792
FYI just discovered this website called Sell My Castle - http://www.sellmycastle.com.au/

Pretty awesome, I signed up and today and they've already emailed me a free market appraisal plus some questions to ask potential agents. They're gonna email me a list of all agents in the area, their fees and recent performance

All free
 

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