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130 posts

Master Geek
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  Reply # 2021928 24-May-2018 16:27
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Hammerer:

irongarment:
networkn:


irongarment:

I don't know why people still list their properties with real-estate agents when they can avoid exhorbitant fees by listing them as a private sale for very little on TradeMe. Or for free elsewhere.


I was happy with my agent for my property. Sold in 10 days. Didn't have to deal with everyone myself, got a good price. 


Most people don't want the hassle. I know one person personally who sold his property the way you suggested. Ended up in a 115K legal dispute which he lost. 



Then he must have had a useless solicitor. The agent (or TradeMe) merely introduces the buyer to the seller. That's all. For that the agents will extract a disproportionately large fee. The contract is boilerplate, you just fill in the blanks. Then the important bit is done by the lawyers.


The sale contract doesn't cover all disputes or prevent legal action. The seller might have inadvertantly misrepresented the property or made a commitment he hadn't intended. That is one thing that real estate agents are careful about.



This is why you involve your solicitor at the beginning. Still no need for an agent.

3967 posts

Uber Geek
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  Reply # 2021932 24-May-2018 16:34
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Wheedle! I forgot all about that! I remember it had a major hack of its database when it first opened, went offline while they fixed it, but basically lost all its momentum and users after that.

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  Reply # 2022090 24-May-2018 20:30
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You can't search on minimum land size either.

We wouldn't want less than 5 acres but there's no way to specify and, indeed, I still see listings with no plot size mentioned at all.





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Ultimate Geek
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  Reply # 2022463 25-May-2018 13:56
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sbiddle:

 

networkn:

 

realestate.co.nz by comparison has it. Also the internet type and a bunch of additional information that is super useful. 

 

 

 

 

I never understood a few years ago when a lot of real estate companies were fighting Trademe over their commissions why they all simply didn't walk. They already had a far superior platform and domain (realestate.co.nz)

 

Had everybody walked from Trademe together and moved to realestate people would have very quickly discovered where all the property listings had gone.

 

 

 

 

 

 

Their customers have a right to be listed/promoted on all possible platforms to get them the best price, it's also a conflict of interest if they only list it on realestate.co.nz(it's owned by Harcourts, Harveys, Ray White, Barfoot & Thompson, Bayleys and L J Hooker...)


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  Reply # 2022468 25-May-2018 14:16
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Geektastic: You can't search on minimum land size either.

We wouldn't want less than 5 acres but there's no way to specify and, indeed, I still see listings with no plot size mentioned at all.

 

I think you can do this on realestate.co.nz

 

 


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  Reply # 2022587 25-May-2018 18:45
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Hammerer:

irongarment:
networkn:


irongarment:

I don't know why people still list their properties with real-estate agents when they can avoid exhorbitant fees by listing them as a private sale for very little on TradeMe. Or for free elsewhere.


I was happy with my agent for my property. Sold in 10 days. Didn't have to deal with everyone myself, got a good price. 


Most people don't want the hassle. I know one person personally who sold his property the way you suggested. Ended up in a 115K legal dispute which he lost. 



Then he must have had a useless solicitor. The agent (or TradeMe) merely introduces the buyer to the seller. That's all. For that the agents will extract a disproportionately large fee. The contract is boilerplate, you just fill in the blanks. Then the important bit is done by the lawyers.


The sale contract doesn't cover all disputes or prevent legal action. The seller might have inadvertantly misrepresented the property or made a commitment he hadn't intended. That is one thing that real estate agents are careful about.



Plenty of useless agents as well. The one that sold the neighbouring property directly behind me never bothered telling me that it was listed for sale. The marketing and open homes were done at the same time as I was doing a large drainage project in my back yard, meaning the house for sale overlooked a construction site and me looking like a Bogan as I was working. I would have happily delayed the drainage project if I had known about the house being for sale. It has a different street frontage, so I never saw the for sale sign.

I would have also seriously considered buying it. As I would have gained significant extra development rights under the Auckland unitary plan by doing so. Which also means that the house would be worth more to me than any other potential buyer. But when I found out that it was for sale, it was listed for auction. With nowhere near enough time for me to carry out due diligence. And I would have needed to offer conditional on finance, so the auction would have ruled me out as a possible buyer.

Beware any agent that tries to push you to selling by auction.

The listing also didn't have any photos of that properties back yard. Although it was just an empty yard. The Google Maps satellite photos still showed all of the large trees that were shading the property. Which had since been cut down. Talking with the new owners, they initially were not even going to bother viewing the property due to the trees on Google maps. But they happily bought it after seeing that the trees were no longer there.





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