So this just happened.

[donna]

Ha ha - don't hold back Leftette. Clearly you're not a fan of traders. Back to the topic - as Steve said the property was 'empty' and the vendor's situation unknown at the time of the offer. The Real Estate Agent handing it probably is better suited to a different role.

I mean - so what if it's a low offer - it is an offer!!! And in Wellington offers don't come in in abundance so it's unlikely that Real Estate Agent is overworked with other offers to deal with.

cheers,

Donna

[Damap]

Even if I wasn't a trader the whole concept is just silly. It's like there's some rule that the price is not negotiable. Just ridiculous.
More importantly in this case in breach of their rules and can be prosecuted. In the era of high horse integrity thanks to the REAA she should be taken to task big time so she doesn't treat other genuine buyers like this.
Where's my lighter.........

[speights boy]

If a vendor instructs an agent not to present them with any offer from XXX, what is the agent allowed to do, or not do ?

[Damap]

Based on the wording they have to present any written offer. They can just show it to them and then bin it of course.

[Bluekiwi]

I think, I was told that the vendor can instruct the agent, not to present any offers below a certain level, I am pretty sure this is the case.

Regardless of what the law is, agents are doing that to me now.

I tried to put a pre-auction offer on a property at 650k last week, the auctioneer came back and said they would not look at anything below 800k.
I was not even allowed to put one in.

And another agent told me on Thursday last week, that the vendor had told him that he did not want to see any offers util after the weekend open homes.
So, a time restriction on when offers could be put in.

Am very interested to find out more like this.
As even when the agent / vendor, do want offers, they can be useless at providing you the S&P to do it.

I know most traders have an automated system and do it from their computer.
But I dont traditionally pay for "mentoring / tutoring", so need to work these things out myself as I go.

[speights boy]

Yes, BK.
I would have thought a vendor would be able to instruct their agent to filter out certain offers.
They are your agent acting on your instructions.

Obviously the code of conduct rule is there to ensure the agent doesn't keep anything secret from the vendor they should see.
But in the above case the vendor is already aware, and is simply saying don't waste my or your time.

[Errol]

Coming from a different perspective, since when was 70 and " little old lady used" in the same sentence?

[donna]

Yeah not sure you'd call these people .....little old man, or little old woman....

Clint Eastwood, Gene Hackman, William Shatner, Maggie Smith, Judi Dench, Sophia Loren, Warren Beaty, Jack Nicholson, Al Pacino, Jane Fonda, Raquel Welch, Harrison Ford, Barbara Streisand, Robert De Niro.

[Damap]

Jack Nicholson definitely a little old woman :-)

[teamchase]

Quite a strongly worded letter, certainly gives the impression its not your first low ball offer. Or the agent took to heart their clients reaction.

I would rather see this type of issue than our elders being ripped off, I have first hand experience with agents shafting elders out of considerable amounts of money, It was heart breaking to witness.

No offense intended to the prudent buyer.

[Maccachic]

What I cant understand is little old anyone allowing themselves to get ripped off - assuming that as they have the legal power to sign a form meaning they are sound of body and mind.

They should be lot more experienced / jaded and sceptical than someone younger so should be a whole lot tougher to deal with. At what point to you become a push over / easy target to get ripped off.

[Damap]

I see plenty of them. My mum would be one. She recently went into a rest home and there are some tragic people in there who were living at home not long ago. Senility is a terrible thing and often people can be unwell for a long time before anybody notices. Especially if they aren't interacting regularly with family etc.

[Davo36]

Yes and the low-ballers are out there trying to fleece as many of them as they can.

And couching it in ways as to not make themselves look bad.

[donna]

The flip side to a vendor accepting a low offer is - if it's a trader who buys the property - it's usually renovated to a much better standard so the next owner of the property gets to enjoy it.

There are worse examples of bad stuff in life than vendors of vacant properties accepting low offers.

cheers,

donna

[speights boy]

There are worse examples of bad stuff in life than vendors of vacant properties accepting low offers.

Not the point of this thread however.
It's about the agent's actions, not the vendor's.

Does anyone know definitely the answer to this ...

I would have thought a vendor would be able to instruct their agent to filter out certain offers.
They are your agent acting on your instructions.

Obviously the code of conduct rule is there to ensure the agent doesn't keep anything secret from the vendor they should see.
But in some cases the vendor is already aware, and is simply saying don't waste my or your time.