Real Estate Agents in Sydney

Minix

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Hi Kennelers,

I am at the crossroads with these real estate agents in Sydney!

I have the urge to kick the living shit out of these lowlife idiots.

Just before Christmas last year, we were keen on 2 properties, which were both going to Auction.

Both agents advised that the vendors are "open" to offers - no shit! Anyways, we put offers in on both properties (no low-ball offers) and we did not even receive a response in acknowledgment of them receiving our offers.

I was suspicious that the real estate agents did not submit our offers to the vendors, and I went directly to the vendors (after finding there detils via the contract of sale) and truth be told - the idiots (real estate agents) did not submit our offers! I made a mistake as i approached the vendors the day before the auction, which was too little too late.

Would you believe it, this same scenario has just presented itself once again! We have submitted 2 offers on two houses, and we have copped the silent treatment once again! These houses are going up for auction in 3 weeks, and I am trying to find the vendors to advise them of our offers, which have obviously not been put forward.

Both these houses are currently rented out, and for some unknown reason the vendors address is not stated on the contract for sale or title search?!

Has anyone come across this?

Any savvy property tycoons out there who can help my family out, before i rip one of these ***** head off?!
 

Natboy

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Hi Kennelers,

I am at the crossroads with these real estate agents in Sydney!

I have the urge to kick the living shit out of these lowlife idiots.

Just before Christmas last year, we were keen on 2 properties, which were both going to Auction.

Both agents advised that the vendors are "open" to offers - no shit! Anyways, we put offers in on both properties (no low-ball offers) and we did not even receive a response in acknowledgment of them receiving our offers.

I was suspicious that the real estate agents did not submit our offers to the vendors, and I went directly to the vendors (after finding there detils via the contract of sale) and truth be told - the idiots (real estate agents) did not submit our offers! I made a mistake as i approached the vendors the day before the auction, which was too little too late.

Would you believe it, this same scenario has just presented itself once again! We have submitted 2 offers on two houses, and we have copped the silent treatment once again! These houses are going up for auction in 3 weeks, and I am trying to find the vendors to advise them of our offers, which have obviously not been put forward.

Both these houses are currently rented out, and for some unknown reason the vendors address is not stated on the contract for sale or title search?!

Has anyone come across this?

Any savvy property tycoons out there who can help my family out, before i rip one of these ***** head off?!
They are just fishing for a stupidly high offer. I’m own a lot of property and I’m ruthless with them. Ask to deal with the boss and if they are a fuckwit I just won’t buy from them.
@doggieaaron will give you some good advice I’m sure
 

Minix

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They are just fishing for a stupidly high offer. I’m own a lot of property and I’m ruthless with them. Ask to deal with the boss and if they are a fuckwit I just won’t buy from them.
@doggieaaron will give you some good advice I’m sure
These are the bosses!
 

Alan79

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The owners have probably been advised of the offers, but the advice of the estate agents would probably be to hold off and see if higher bids happen at auction. They'll probably set the reserve at the price of the best offer and if it isn't matched at auction the highest offer will then be accepted. If an estate agent can make an extra 5-10c commission from shady dealings and screwing people over they'll make it. People often get crazy at auctions through desperation and the estate agents are likely to be living in hope that they'll get a bigger payoff from this.

I stayed at my sisters place in sydney that she's renting from her ex husbands brother. While I was there three different estate agents come door knocking looking to get home owners to put their houses on the market. The neighbours were getting the same estate agents knocking. I get the feeling that they're seeing the markey begin to stall and that people are reluctant to sell so they're envisioning a drop in their income. It seems like they're strongly driven by greed.

The country town I live in had an estate agent here that spent some time in jail for shady dealings. He basically conducted auctions with the absolute minimum advertising and had proxy buyers picking up houses at significantly below market rates. He lost his real estate license for 10 years, but as soon as it happened his sister set up a new business and carried on with business. So I'd not trust many real estate agents whether I was buying or selling.
 

doggieaaron

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They are just fishing for a stupidly high offer. I’m own a lot of property and I’m ruthless with them. Ask to deal with the boss and if they are a fuckwit I just won’t buy from them.
@doggieaaron will give you some good advice I’m sure
Yes no doubt there are some dickheads out there but sometimes there are 2 sides too the story but as natboy says id be happy to help im an agent inbox me ill give you my mobile and we can discuss what to do ok
 

Minix

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Yes no doubt there are some dickheads out there but sometimes there are 2 sides too the story but as natboy says id be happy to help im an agent inbox me ill give you my mobile and we can discuss what to do ok
I'm not expecting the agent to tell me straight away yes the owners accept or refuse your offer.

All i expect is them to return the call or email advising they have received our offer and they will put it forward to the owners and get back to us with the feedback.

By law they must advise the owners of all written offers, yet all these dickheads did not put our offers forward to the owners.

The second side of the story is that they are not doing there job.

Common coincidence all 4 different agents have done the same thing by not doing their jobs and not being ethical? Come on Aaron!

By thelooks of it, it must be a Sydney thing when it comes to real estate agents
 

Natboy

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I'm not expecting the agent to tell me straight away yes the owners accept or refuse your offer.

All i expect is them to return the call or email advising they have received our offer and they will put it forward to the owners and get back to us with the feedback.

By law they must advise the owners of all written offers, yet all these dickheads did not put our offers forward to the owners.

The second side of the story is that they are not doing there job.

Common coincidence all 4 different agents have done the same thing by not doing their jobs and not being ethical? Come on Aaron!

By thelooks of it, it must be a Sydney thing when it comes to real estate agents
They should at least acknowledge you. I’d be pissed off. Can you tell us the agency? I’m curious
 

BELMORE

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I'm not expecting the agent to tell me straight away yes the owners accept or refuse your offer.

All i expect is them to return the call or email advising they have received our offer and they will put it forward to the owners and get back to us with the feedback.

By law they must advise the owners of all written offers, yet all these dickheads did not put our offers forward to the owners.

The second side of the story is that they are not doing there job.

Common coincidence all 4 different agents have done the same thing by not doing their jobs and not being ethical? Come on Aaron!

By thelooks of it, it must be a Sydney thing when it comes to real estate agents
99% are like that. Flops. So shit at their job because it does it for them, they don’t even try
 

Dawgfather

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Real Estate Agents are like Strata Managers - you don't need to be especially smart or gifted or qualified to be either.

As a result the quality of people who end up in these roles is not usually crash hot.
 

Wahesh

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Hi Kennelers,

I am at the crossroads with these real estate agents in Sydney!

I have the urge to kick the living shit out of these lowlife idiots.

Just before Christmas last year, we were keen on 2 properties, which were both going to Auction.

Both agents advised that the vendors are "open" to offers - no shit! Anyways, we put offers in on both properties (no low-ball offers) and we did not even receive a response in acknowledgment of them receiving our offers.

I was suspicious that the real estate agents did not submit our offers to the vendors, and I went directly to the vendors (after finding there detils via the contract of sale) and truth be told - the idiots (real estate agents) did not submit our offers! I made a mistake as i approached the vendors the day before the auction, which was too little too late.

Would you believe it, this same scenario has just presented itself once again! We have submitted 2 offers on two houses, and we have copped the silent treatment once again! These houses are going up for auction in 3 weeks, and I am trying to find the vendors to advise them of our offers, which have obviously not been put forward.

Both these houses are currently rented out, and for some unknown reason the vendors address is not stated on the contract for sale or title search?!

Has anyone come across this?

Any savvy property tycoons out there who can help my family out, before i rip one of these ***** head off?!
Mate, when it comes to Auctions, the best thing to do is ask the agent what he expects the house to go for. Let's say $1,000,000. He will ALWAYS knowingly under-praise the actual value of the house. He says $1,000,000, but then you need to add on about 10-15% to find the actual value, so now, we're at $1,150,000.

In order for them to seriously take your offer to the vendor, you need to go above that, otherwise they know they'll get that at auction anyway, so if you want that house that he's telling you will sell for $1,000,000, you'll need to offer $1,200,000. It's sad but that's what we've come to.

Now this is my STRONG advice to people living in Sydney who want to get into the property market. LOOK OUTSIDE SYDNEY. So for instance, look at houses in Newcastle. $500,000 will get you a very good house in Newcastle. Rent it out, and then lease a house in Sydney, and use the rent you receive from the house in Newcastle to cover your own rent.
 

BELMORE

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Mate, when it comes to Auctions, the best thing to do is ask the agent what he expects the house to go for. Let's say $1,000,000. He will ALWAYS knowingly under-praise the actual value of the house. He says $1,000,000, but then you need to add on about 10-15% to find the actual value, so now, we're at $1,150,000.

In order for them to seriously take your offer to the vendor, you need to go above that, otherwise they know they'll get that at auction anyway, so if you want that house that he's telling you will sell for $1,000,000, you'll need to offer $1,200,000. It's sad but that's what we've come to.

Now this is my STRONG advice to people living in Sydney who want to get into the property market. LOOK OUTSIDE SYDNEY. So for instance, look at houses in Newcastle. $500,000 will get you a very good house in Newcastle. Rent it out, and then lease a house in Sydney, and use the rent you receive from the house in Newcastle to cover your own rent.
The rental income from the house won’t cover your lease. It will only cover the majority of the mortgage. Still will be out of pocket year on year.
 

Sleeky

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Mate, when it comes to Auctions, the best thing to do is ask the agent what he expects the house to go for. Let's say $1,000,000. He will ALWAYS knowingly under-praise the actual value of the house. He says $1,000,000, but then you need to add on about 10-15% to find the actual value, so now, we're at $1,150,000.

In order for them to seriously take your offer to the vendor, you need to go above that, otherwise they know they'll get that at auction anyway, so if you want that house that he's telling you will sell for $1,000,000, you'll need to offer $1,200,000. It's sad but that's what we've come to.

Now this is my STRONG advice to people living in Sydney who want to get into the property market. LOOK OUTSIDE SYDNEY. So for instance, look at houses in Newcastle. $500,000 will get you a very good house in Newcastle. Rent it out, and then lease a house in Sydney, and use the rent you receive from the house in Newcastle to cover your own rent.
Agreed. Especially if you’re single or a couple without kids. Do this for 5 years (pending on market increase or not), get a valuation done and re-finance. Use the equity along with what you saved in those five years to put down a deposit for a property in Sydney.
Good luck mate
 

Sleeky

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The rental income from the house won’t cover your lease. It will only cover the majority of the mortgage. Still will be out of pocket year on year.
If you finance it right, you utilise negative gearing. Ive done this method (kind of) and it works
 

Dawgfather

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Mate, when it comes to Auctions, the best thing to do is ask the agent what he expects the house to go for. Let's say $1,000,000. He will ALWAYS knowingly under-praise the actual value of the house. He says $1,000,000, but then you need to add on about 10-15% to find the actual value, so now, we're at $1,150,000.
My wife and I have our own apartment and we've recently been looking to buy a house in Sydney.

I can say you are spot in in relation to the addition of 10-15% to whatever price the agent gives you as the 'guide'.

Some agents are honest and genuinely try to give you an accurate guide (and do so).

Other agents are absolute scum and intentionally under-quote by 20-25% with the express purpose of creating interest in the property and hopefully getting big crowds to the open house and auction which makes each interested party feel like they need to pay more to get the house.

I will have no sympathy when the market eventually turns and these same agents can't sell anything.

On the topic of Sydney prices, my impression is they are absolutely on the way back up again (unfortunately for me). In our area (9-10km from the CBD), $1.5m gets you a run down very old house. $1.8m will get you a decent house. $2m will get you a very nice family home on approx 550sqm.
 

Sleeky

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My wife and I have our own apartment and we've recently been looking to buy a house in Sydney.

I can say you are spot in in relation to the addition of 10-15% to whatever price the agent gives you as the 'guide'.

Some agents are honest and genuinely try to give you an accurate guide (and do so).

Other agents are absolute scum and intentionally under-quote by 20-25% with the express purpose of creating interest in the property and hopefully getting big crowds to the open house and auction which makes each interested party feel like they need to pay more to get the house.

I will have no sympathy when the market eventually turns and these same agents can't sell anything.

On the topic of Sydney prices, my impression is they are absolutely on the way back up again (unfortunately for me). In our area (9-10km from the CBD), $1.5m gets you a run down very old house. $1.8m will get you a decent house. $2m will get you a very nice family home on approx 550sqm.
So you live around the Kingsgrove area? Lol
 

Dawgfather

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I know, it was a joke. Like all Sydney is expensive as fuck to buy lol
lol yeah.

It's crazy.

My wife and I both work full time jobs earning very above average incomes.

No Kids.

No debt (except for the apartment mortgage but that's not huge in the scheme of things).

Yet, we are struggling to be able to buy a home within 10km of the city.
 

Sleeky

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lol yeah.

It's crazy.

My wife and I both work full time jobs earning very above average incomes.

No Kids.

No debt (except for the apartment mortgage but that's not huge in the scheme of things).

Yet, we are struggling to be able to buy a home within 10km of the city.
And to think it’s only going to get worse. Our kids will need to start buying in syndicates just to have a name on a deed!
 

Dawgfather

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And to think it’s only going to get worse. Our kids will need to start buying in syndicates just to have a name on a deed!
I felt happy with myself when we bought our apartment.

But tbh, there is not a lot of value in owning an apartment. They are just a commodity in Sydney because they are too easy to replicate and far too many new developments going up.

I see value in a home because you 'own' the land. And land is scarce in Sydney.
 
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