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Do you follow-up on unpriced listings

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  • Do you follow-up on unpriced listings

    When scanning the property press for properties, some investors, and probably home buyers, have indicated that they will bypass listings with no price, e.g. By Negotiation, tender and even Auction.

    What do you do?
    Always - you never know where a bargain is hiding
    Sometimes - if my bargain detector starts ringing
    Never - why should I waste my time with a lazy agent

  • #2
    If the property is in an area I know reasonably well I'll follow up otherwise no.

    Is the new REAA monitoring the listings prices? The Advertising Codes of Practice doesn't include Property/Real Estate - that is a surprise!


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    • #3
      I will never ever follow up on unpriced properties.

      I have mentioned this to many Agents and their usual stock answer is that I may be missing out on a good buy.

      My stock reply to that is... No, you may be missing out on a sale.


      • #4
        Never ever.


        • #5
          No I don't because I am lazy, and trying to determine if a listing is in my price range is too difficult without going to look. There are enough listings to visit without wasting time on maybes or maybe nots. My time is too valuable.


          • #6
            I tried contacting agents asking about PBN houses about a year ago hoping the hype about picking up a bargain was true. Must have called about 10 or so after about 15 different properties. Most wanted me to look at the property without giving me any other information. When pushed, most would give me the CV or RV. Less than half would tell me what the vendor was expecting or a price range. All were higher than what I thought the property would have been marketed for.


            • #7
              In the commercial world it's even worse at the moment. I would say 90% of properties have no price. Try looking on TradeMe and you'll see what I mean.

              I find it very annoying but what can one do when virtually all property is now sold this way?
              Squadly dinky do!


              • #8
                what these listings deserve is what they would absolutely hate to get

                and that is you ring up and say you want to buy the place

                you visit, etc. ask Q's, get them to do as much as possible without ever mentioning the price

                when THEY bring up the price you ask them what they want

                then tell them that is too high and that you would want to pay less

                you keep doing this until you find their bottom price

                if it's close to what you want then offer 10% less

                or if it's still way too high you say you'll think about it and never contact them again

                they would absolutely hate that and say that you are wasting their time and that if everyone did that the whole system would grind to a halt

                but in reality you would only be doing to them what many of them are attempting to do to you

                i don't advise it

                but i think we should call a spade a spade
                have you defeated them?
                your demons


                • #9
                  Done that but agents that behave that way are usually lazy or thick and don't value their own time. Might as well be talking to anyone rather than a decent prospect. Stupid really.

                  And I might add that I can't be bothered with agents who won't give out an address. I don't want to waste my time and I'm more interested in numbers or some such rather than some aesthetic good looking feature which they have in mind.

                  Of course those that know me know the score.
                  Last edited by Viking; 25-12-2009, 08:17 PM.


                  • #10
                    Another thing that bugs me is when a RE Co. has a listing for multiple sections in a development and they take multiple identical listings on Trademe.

                    I will refuse to open a single listing. One ad is sufficient to cover all listings, even if sections may vary in price.