Saturday, February 25, 2012

Real Estate Agents Wonder WHY??

Stuff reports that some property owners in Christchurch are selling cheap as increasing panic delivers desperation.

Yes some will be selling without recourse to the "services" of an "agent" but there will be many being taken for a ride by licenced members of an organisation who spend millions of dollars attempting to climb higher on the list of "trusted" professions.

The first thing an agent wants an owner to sign is a 'contract of agency' a document the agent will claim is a document that outlines all the benefits the seller will enjoy when they commit.
The truth is the Contract of agency is the bit the nice agent needs to sue the arse off the seller when a dispute arises over "Who sold the freekin property", no more no less.

An agent has a fiduciary duty to act in the best interests of the seller at all times but that submerges into the swamp of manipulation once an increasingly desperate agent moves to getting a "deal" whatever it takes.

There are many sharks circling in the muddy waters of the devastated suburbs and a vast pool of the vulnerable for them to feed on.

What a heaven sent opportunity for the real estate industry has to really polish its image but sadly they will just enjoy the opportunity to join the feast.


Nick K said...

The agency agreement is also valuable to a client who wishes to claim the agent broke the rules. Without one, the agent won't have been conducting "real estate agency work" and so are not subject to the Act and the Regulations. It cuts both ways.

Anonymous said...

From my experience real estate agents work to benefit neither the buyer or the seller.

The only person they want to benefit is themselves.

We had a small house in Palmy around 10 years ago which we wanted to sell for about $140K. 20 seconds after signing an exclusives sales contract with the local LJH agent, she pulls out a cash offer for $130K and does the hard sell for 5 minutes saying that she thinks it is the best offer we will get.

We refused and tell her to sell it for more - which she reluctantly did.

The final price was $138,500.

She just wanted her cut for no work at all - dodgy


Randwick Real Estate said...

Hopefully some Agents rise to the occasion and make a name for themselves!