Thread: Well the house is finally on the market!

One more......
Bigjon is quoting directly from a book from a guy called Neil Jenman, a NSW agent who made a fortune in the crappy areas of Sydney.
If I was Bayside or inner Melb I can tell you how I would be going to market at the moment.
Oh yes.... I am an agent, but I run virtually NO auctions in the field I'm in.

Good luck with the sale Ken.
Good luck with the move.

If you had spoken to John (at Firth Park that weekend) about the sale of his fathers house in Sunshine, he would have told you he sold it at what he and the agent thought was a good price. Less than a year later, the new owner sold it for much, much more.
The inner west always surprises me at how much people are prepared to pay to live there. I hope the auction goes well (or you get an offer you can't refuse prior).
PS. My SIII tray is in with Winston having it's front brakes and tune seen to.

regards
Mick

Originally Posted by BigJon

Good agents don't auction houses.

OOps-What a crazy, miss-informed statement of the century.

We build and sell and auction and buy all the time.
We have our own sales person in house and depending on location, value and many other factors Auction will nearly always win the highest bid.

In the heat of the moment, an auction is known to have achieved way more than a sale could possibly have.

Originally Posted by BigJon

Good agents don't auction houses.

Exactly. With an auction, you only get one bid more than the second best bidder is prepared to pay. I've seen it cost people sales, and in some cases really big $$$.

One example of a auction I went to. There were two bidders. Bidder 1 went in big increments. My neighbour was bidder 2. They slowly went up to market price, with bidder 1 always putting in big increments. They won.

We found out later that bidder 1 was a developer. He had just bought the houses on either side. He wanted to do an uber mansion, and had infinite money. He would have paid double if required.

Originally Posted by Mick_Marsh

Good luck with the sale Ken.
Good luck with the move.

Been a long time coming, but will be worth it in the end.

PS. My SIII tray is in with Winston having it's front brakes and tune seen to.

regards
Mick

Thanks Mick,

Will have the Defender in for a going over with Pat, and Winston, once there is some cash in the bank account. Need to get the steering sorted, along with new front springs, and shocks all around.
Funny we had camp oven stew last night, and Alex said he liked the pork we had when we went camping, better than lamb.

Cheers,
Ken

Originally Posted by Captain_Rightfoot

Exactly. With an auction, you only get one bid more than the second best bidder is prepared to pay. I've seen it cost people sales, and in some cases really big $$$.

One example of a auction I went to. There were two bidders. Bidder 1 went in big increments. My neighbour was bidder 2. They slowly went up to market price, with bidder 1 always putting in big increments. They won.

We found out later that bidder 1 was a developer. He had just bought the houses on either side. He wanted to do an uber mansion, and had infinite money. He would have paid double if required.

Interesting debate, please open a new thread and a pool
Here so far are 2 positive comments about RE agents by RE agents and 2 ......by "members of the public"

I have experience with RE agents about 11 times....1 good, 10 bad

Originally Posted by big guy

OOps-What a crazy, miss-informed statement of the century.

We build and sell and auction and buy all the time.
We have our own sales person in house and depending on location, value and many other factors Auction will nearly always win the highest bid.

In the heat of the moment, an auction is known to have achieved way more than a sale could possibly have.

I don't think you can prove that auctions get the highest price. They do get the highest bid, but that is not the same thing.
How can you tell what a good negotiator would have got for the property if you don't try?
There are plenty of cases where the winning bidder has said afterwards they would have paid more for the property.
For my money, I am quite happy to buy at auction (bargains to be had if you are disciplined), but I won't sell at one.

The only people guaranteed to win every time at an auction are the agents. They get the sale, they get the commission. With almost no work.
I could run an auction myself.
Put a few ads in the paper.
Put a flag out the front.
Yell at people while waving a hammer at them.
How easy is that? Money for jam if you are the agent.
The only hard bit is convincing the seller to take a lower price than you told them they would get in the first place .

Big Jon
With all due respect, we are developers, not with infinate $$$ but in the market to create more homes for people at an affordable price.
Margims are much smaller than many people may think.
Not every property is right for auction, some are which are thoses with a lot of interest, more interest, more potential buyers, better result for the vendor.

There are many opens to be had and to pre-qualify people prior to auction.
Many will come back 2-3 times, some will want a building inspection and or architect to do a inspection for further developement etc.

There are many legal issues, searches and t's to be crossed.
Agents do sometimes get it easy but they often work at nights when we relax, open week-ends and get calls at times very late at night and at the most inconvenient times.

So, for a property and or parcel of land in the right area, an auction will be best course, for a property that is just like Joe average, a good agent will do the job.
Oh and there are many rogue agents out there but there are also some very good once that are worth keeping as when it time to sell, they will go the extra mile once you build a good relationship.



Hope the fella above gets a great deal and it works out well for him.