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123 posts

Master Geek
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  Reply # 1819540 11-Jul-2017 12:54
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So I'm curious whether the OP has made a decision?

 

Having dealt with a LOT of real estate agents in the last 4 years (took 18 months to buy new property, 6 months to sell original property x 2 agents, and sold a rental property myself on TM) I would go with the agent charging the lower %.  The big guys claim they have more buyers, but I've never seen proof of that.  They advertise an Open Home mainly to find people looking to buy then harass them afterwards trying to get them to view other properties.  This may give them more buyers if they are holding more Open Homes, but the other agents who charge less will employ the same tactics.  Bigger agencies will negotiate harder?  How does that work?  You think because they are potentially getting paid more they will keep going longer?  It's not been my experience.  Bigger agencies are very keen on auctions up in Auckland even when the auction market slowed considerably - why?  Because they are pretty much guaranteed to get their commission.  If they get the seller at an auction and the price isn't what they want then they will apply extreme pressure to say 'the market has spoken' regardless of whether they claimed the house was worth $25k more from their 'extensive data'!

 

Seen all these tactics in action and never seen any higher value from the big agencies who often have extreme pressure to simply make a sale and make their targets.

 

IMHO smaller agency will do as good and if you sign a short contract with them and are not happy then you can move onto the big guys and lose more money




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Master Geek
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  Reply # 1819728 11-Jul-2017 17:45
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OP here. I think I've made a decision (1%) but unfortunately my wife has independently made the opposite decision (4%}.

So now I have a whole other negotiation to work through!!!

 
 
 
 


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Uber Geek
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  Reply # 1819790 11-Jul-2017 19:02
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tdgeek:

 

Batman:

 

cadman:

 

tdgeek:

 

So your saying that they all just turn them over?

 

House sells for $500,000 one gets $20,000 the other gets $5000 thats more my point. Why would anyone use 4%ers? The perception is they will do more and get more. Far higher access to buyers, etc. We sold a flat, at auction, by one of the big names. Reached 389. Auction stops, so they talk to the bidder. 405. No, so they talk again, I wont get much more, hopefully 410. Got 430. The 1%ers wont negotiate like that as they are only getting a quarter of the whole deal, they want to flick it and move to the next one. They also wont have access to the numbers that Harcourts and Ray White will. And going by the extensive data we got on sales in our area, which wasn't just a list on A5 paper, they wont go to that detail either. All IMHO, and from my limited first hand experience. 

 

 

Yep. Perception is often not reality. I mean why would you use an agent at all over doing it yourself on TradeMe? Pretty much the same buyers. At the end of the day you're either happy with an offer or you're not. An agent's involvement may or may not get you an offer you're happy with. I simply don't see them adding value to the transaction these days. Pre-internet - certainly.

 

 

Depends on the property. May not be "pretty much the same buyers". Some loaded buyers don't look on the internet. Some anxious buyers don't look on the internet. Some people are too busy to look on the internet themselves. Cheapskates like me look on the internet. Hence depends on your property. Low end - internet. Mid end - maybe internet if you don't expect top dollar. Want top dollar - use an agent.

 

True story: my cleaner bought a house like this: She goes to the bank. The banker hooks her up with an agent and comes back with 4 options in her price range. She picks one she likes. She sees the agent, and offers more money than the last accepted offer which did not get completed. Bought a house. Everybody happy. I was like - WTF!!

 

 

Agree fully

 

A house is a big deal. Many are quite happy buying or selling a box of 10 widgets on TradeMe, but a house, not so many. Its too big and too much risk, and I dont know anything about buying or selling a house, I dont want to sell it too cheap and I dont want to overpay, so the best option for many is to go somewhere where there are experts in the field, who deal with house sales and purchases ona daily basis, who know the market in your town. Its so easy to go the wrong way for tens of thousands

 

 

 

 

Using trademe is really solely about getting the property to as many eyeballs as possible. It won't usually sell it, as very few people will buy a property without first actually visiting it. I have looked at viewer counts of properties being sold via Trademe, the real estate agents site, and the main property website, and by far the most traffic is off trademe. So that will likely have the best odds of connecting the buyer to the house, over any actual agent. It was like 10 to 1 of trademem over other sites. That however may have changed since I saw the stats a couple of years ago. I would still recommend people use an agent to do all the negotiation, but that doesn't mean you have to pay them a fixed percentage, rather than a fixed fee. homes.co.nz may give you a market price based on what others have sold for and the RV. Even get some agents in to do a free appraisal to get a market value, or pay a valuer. But some people just want someone to do everything for them, and don't mind paying to get an agent in, as it can be an easy option for many. A bit like using a tax refund website, vs just doing it yourself on the IRD site, as shown on fair go yesterday.


123 posts

Master Geek
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Reply # 1820018 12-Jul-2017 07:53
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McNulty: OP here. I think I've made a decision (1%) but unfortunately my wife has independently made the opposite decision (4%}.

So now I have a whole other negotiation to work through!!!

 

Haha maybe explain the difference in terms of how many shoes or handbags she can buy?  Works for me! 


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Uber Geek
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  Reply # 1820046 12-Jul-2017 09:15
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Rule no 1. Everything is negotiable. I would put it to the 4% saying I can get TR for 1%. Can you match? I would eventually accept 2%. THey will say they've never done this before, how special you are, ya di ya di ya. Do not accept anything other than 2%. (probably + GST so 2.15%)

 

Then the math says:

 

If you sell a house for 500k, you stand to dish out an extra 5k. In the grand scheme of things, it's not that much. Just make sure you get offer that is 10k above your expectation so everyone is happy.

 

Some agents who are extremely good at what they do will not negotiate. If they are hellbent on not negotiating, you probably have one of the top agents in town.

 

On the flip side, if they go down to 2%, they are desperate ... should you then have gone with them in the first place ... hmm ... I did that once. I would never use him again! (Yes Chch, he immediately offered to reduce to 2%)


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  Reply # 1820047 12-Jul-2017 09:16
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Sorry it's a bit complicated eh ... but yeah life's like that. Also if they agent does not suggest how you can improve your house to sell better don't use them.


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