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The secret agent

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  • The secret agent

    Did anyone watch the doco on real estate agents last night?

    Sounds pretty outrageous... can't be true surely?

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  • #2
    I didn't see the doco but did read the article on the BBC site. Sounds like it focussed on the worst instances, as docos do, which are hopefully not a large percent.

    There are quite a lot of comments posted on the item, mostly from people who have been burnt in some way.

    The BBC are careful of their reputation so I feel sure the incidents in the doco would have happened.

    Personally I have not had anything so outrageous happen to me (as far as I know!) but some of the real estate agents I have been involved with have, at times, acted questionably.

    For example, I put in an offer and the agent told me it was too high, and what to change it to. He was also at the time sellng other units in the block in better condition so was concerned for these other sales. Of course I made the lower offer, which was accepted. (Guess who won't be selling any of my properties.)

    Actually the condition of the unit I bought was much better than it looked (which I knew) - just needed some cosmetic work at not much cost so I saved thousands on the deal.


    • #3
      Doesn't surprise me at all. Some of the things they mention, I know happen here in Whangarei.

      I bought my first house through an agent that didn't declare her relationship with the vendor (her boyfriend). I know another agent here who has recently bought a house through a relative far below what she could have sold it for and is reselling it through another agency. Agents regularly "buy listings" by promising ridiculous prices too. I saw a house today that has dropped in price by 80k from the previous agency and I think it has to drop at least another 50k before even the general public would be interested. Don't even get me started on agents who advertise a property with the GV, wrong number of rooms or even the wrong suburb!!

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      • #4
        Buying Listings

        Yes Dave, here in Mstn also.

        There is one agency in particular that is giving this technique a good workout. As a result, I would estimate maybe 15-20% of their listings week-in-week-out would have price reductions from the inital asking price.

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        • #5
          We had an early saturday appointment with the agent/reporter in questions but she cancelled at the last minute (not the best when you are walking to the tube for a 40 minute trip across town).

          Also, we beleive out tenancy agreement got the "chop chop" considering out landlord was meant to be in germany at the time he signed the contract.


          • #6
            I also read the BBC article and I have had an unreliable and expensive agent a couple of years back. I am looking to move again with my family, in order to downsize. I have been hearing things about online estate agents, as far as their reliability and low costs. I still am doing research, since I am trying everything not to use a traditional agent, especially after reading the article.

            Could anyone give me any advice? Have you heard anything about online agents?



            • #7
              online agents seems like a good way to go, especially with their low cost. However, I'd be careful of scams. Read online reviews and check for thier credentials


              • #8
                Originally posted by mattinvestor View Post
                online agents seems like a good way to go, especially with their low cost. However, I'd be careful of scams. Read online reviews and check for thier credentials

                Thanks for the warning, I am always skeptical of the internet and low costs. But I contacted eMoov and I think I am going to give it a try, I will let you know how it goes. My friend pushed me to do it, since she has used them before. Wish me luck!

                And also, if you hear anything, let me know...


                • #9
                  oh great. well, yes, getting started is very important. Just keep trying and you'll surely find some reliable ones.

                  please share your experiences with eMoov once you've dealt with them for a while


                  • #10
                    Alright, so I have been dealing with eMoov for about a week or so and it has been going good. They have been great so far. I put up my house for sale and I have already heard from potential buyers. The process is going by quickly, which is amazing because I want to move and buy a house as fast as possible. In the past I have been in a terrible transient period waiting for my house to sell while I have had my eye on a new one.
                    And now after the entire process I will have money to furnish my house. I can't wait.

                    But I will keep you updated on anything new since it has only been a week, but my hopes are high nevertheless.


                    • #11
                      thanks for the update sineadrogers. hopefully you can get a good profit from the sale


                      • #12
                        the real estate sector in world is set to continue on its growth trajectory based on increased demand. The current real estate market is ripe for rehabbing and flipping.
                        1. Embrace a Planning Attitude
                        2. Research Your Market Plan
                        3. Establish Sales Goals
                        4. Create a Financial Budget
                        5. Make Managing Yourself a Priority
                        6. Find a Mentor or a Real Estate Coach


                        • #13
                          Missed it ... But thanks for the link. With the link I have also come to know many people`s thougt.


                          • #14
                            i completely agreed with mattinvestor..


                            • #15
                              The main point passed across is for one to be careful when searching online for an agent.The same rule applies to almost all online businesses not just in real estate.
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