Real estate price lists?

[imdying]

Can anybody tell me why real estate listings now rarely have a price on them?

[neels]

Particularly in chch at the moment, sellers are hoping some desperate red zone escapee will make a stupidly high offer, in general they don't want to set a price lower than the fantasy they have in their head about what their house is worth.

If you're serious, most agents will let you in on what the seller wants, if they think it's going to speed up their commission arriving in their bank account.

[Winston001]

Neels has nailed it.

You see this happening when there is a real estate boom or a bust - but not in a stable market.

In a boom sellers think their house is worth big gold and agents are scared to insist on a price in case they lose the listing. In a recession sellers still think their house is exceptional and struggle to accept reality so again the agent has to try to get the listing and see who comes out of the woodwork.

I intensely dislike the POA and price band marketing. Everything I've ever read and seen about real estate says you should state your price up front.

[MisterD]

I intensely dislike the POA and price band marketing. Everything I've ever read and seen about real estate says you should state your price up front.

It's been the way in Auckland the whole time I've been in the country. Nothing* fucks me off more than going to an open home and asking the agent how much a house is likely to go for, only to be asked what I think it's worth. Who's supposed to be the fucking expert in this conversation?


*probably a bit of a stretch.

[HenryDorsetCase]

Can anybody tell me why real estate listings now rarely have a price on them?

because its worth what someone will pay. And some of the prices I have seen are outlandish. As a general guide West of Hagley park (so TC2 or TC1, light damage, free redecoration and yard/drive repair by EQC) it will sell in a week, and for more than 2007 GV: say 110% of that.

east of the park it entirely depends on the property/TC/level of damage but stuff still does sell, albeit at a discount.

redzone: easy: get your offer from the insurer, do the sums, work out if option 1, 2a or 2b, sorted.

The fun ones are mortgagee sales (pay LV only) and anything in TC3.

I do this shit for a living: PM me any questions or whatever

[HenryDorsetCase]

It's been the way in Auckland the whole time I've been in the country. Nothing* fucks me off more than going to an open home and asking the agent how much a house is likely to go for, only to be asked what I think it's worth. Who's supposed to be the fucking expert in this conversation?


*probably a bit of a stretch.

always always look at the RV first and say it is worth 80% of that. Fuck the agents.

[HenryDorsetCase]

Neels has nailed it.

You see this happening when there is a real estate boom or a bust - but not in a stable market.

In a boom sellers think their house is worth big gold and agents are scared to insist on a price in case they lose the listing. In a recession sellers still think their house is exceptional and struggle to accept reality so again the agent has to try to get the listing and see who comes out of the woodwork.

I intensely dislike the POA and price band marketing. Everything I've ever read and seen about real estate says you should state your price up front.

Yeppers.

But of course the entire system of buying and selling real estate in this country is ENTIRELY set up to benefit real estate agents. Not buyers or sellers. Yes I am serious. Yes I can attest to it from experience.

Not all agents are criminal scum: I've struck three or four good ones in twenty odd years.

[george formby]

Yeppers.

But of course the entire system of buying and selling real estate in this country is ENTIRELY set up to benefit real estate agents. Not buyers or sellers. Yes I am serious. Yes I can attest to it from experience.

Not all agents are criminal scum: I've struck three or four good ones in twenty odd years.

I'm on the merry go round at the moment, selling one, buying another. The agents are as much use as chocolate fire guards.

What makes the difference in value between the GV & the QV which our rates are based on? Market value? If that's the case then yup, it is really set up for the agents....

[Jantar]

If an indicative price is not listed then I won't look at it any further. Similarly, if the agent lists it at "offers over $xxx,xxx" then they had better be prepared to pass on an offer at $xxx,xxy.

[neels]

always always look at the RV first and say it is worth 80% of that. Fuck the agents.

That's always been my theory if they want me to come up with a price, point out all the things wrong with the place, then give them a silly low number and see if they bite.

Or just ask straight out what the sellers want, on the basis that there's no point talking to the bank if it's not going to fly, if they won't front up head for the door.

But of course the entire system of buying and selling real estate in this country is ENTIRELY set up to benefit real estate agents.

The agent that sold us our current house was a happy boy, probably around $20k commission for listing it on Thursday, selling it on Friday.

[imdying]

because its worth what someone will pay. And some of the prices I have seen are outlandish. As a general guide West of Hagley park (so TC2 or TC1, light damage, free redecoration and yard/drive repair by EQC) it will sell in a week, and for more than 2007 GV: say 110% of that.

east of the park it entirely depends on the property/TC/level of damage but stuff still does sell, albeit at a discount.

redzone: easy: get your offer from the insurer, do the sums, work out if option 1, 2a or 2b, sorted.

The fun ones are mortgagee sales (pay LV only) and anything in TC3.

I do this shit for a living: PM me any questions or whatever

Yeah, I might do. I'm interested in moving somewhere comfier, but there's thousands of houses for sale, and I've no idea if they're in my ballpark

[mashman]

Some friends of ours where Estate Agents... I say where because once the recession bit they couldn't afford to be any more. They had to pay a "fee" of 5k per month each. I assume it was something to do with using someone else's brand? Either way I can understand why they charge like wounded bulls (to a degree)... as mentioned though, you will pay what you think a "fair" value is for anything, why not a house.

[HenryDorsetCase]

Some friends of ours where Estate Agents... I say where because once the recession bit they couldn't afford to be any more. They had to pay a "fee" of 5k per month each. I assume it was something to do with using someone else's brand? Either way I can understand why they charge like wounded bulls (to a degree)... as mentioned though, you will pay what you think a "fair" value is for anything, why not a house.

there's a lot of different deals around but the typical one involves a fee structure of 3.95% + "admin fee" plus GST: would see the house taking the admin fee, and the comm split 60/40 but maybe 70/30 or 50/50 depending on the agent, their clients and volume etc.

When I started the fee was 3.25% + GST and houses were alot cheaper. It went to 3.5 then 3.75 then 3.95 by stealth. Legal fees largely remained static in this timeframe. No wonder their gurning faces are all over the backs of buses and on signboards etc. No wonder in the ad for YOUR house THEIR photo is larger and more prominent than the house.

I have paid one personal real estate comm in my life. 3% flat no admin plus GST. (in 1998) ;D ;D

[SMOKEU]

Some friends of ours where Estate Agents... I say where because once the recession bit they couldn't afford to be any more.

"were", not "where".

[Brian d marge]

I have always wonder why on tard me its , by negotiation ....

and it seems to me that an inflated house price is only benefiting the agents and the seller ....

Stephene