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Hufflepuff

Real Estate Question

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Hufflepuff

If you decide to change Real Estate Agents, is there generally any penalty?   We haven’t paid any money up front for advertising etc....  Can we just walk away & appoint someone else? 

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Grrrumbles

You will need to check your contract. Normally there is a penalty for withdrawing from sale and restrictions on listing with another agent in a certain time period.

The most common clause is if this property sells at all in the next xx weeks, commission will be be paid to the agent even if they did not make the sale.

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seayork2002

Depends what the signed agreement/lease etc. states

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Hufflepuff

It’s says exclusive 90 days after Auction. 

At what point as a consumer can you challenge that?  Only 1 inspection in 5 weeks. No communication unless we call them. Can you call them out on not meeting their requirements or is it all too hard? 

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hills mum bec

Fees will depend on your agreement with them.  Generally you will have to pay any marketing fees that they have spent on the property such as realestate.com.au/domain, newspaper ads, brochures, photography, signboard.  There may also be an admin fee to pay if the property is withdrawn.  It should all be in the agreement you signed with the agent.

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Hufflepuff

In respect of advertising it says ‘marketing expenses payable on written request’

We haven’t received an Invoice and were told it will come out of settlement.

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born.a.girl

Is there no budget at lest for marketing and advertising?   I've only sold a handful of times (5, including aged parents) but I've always known what the advertising and marketing costs were going to be.

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Hufflepuff

Yes there is a budget noted, but payable on Written Request which we have not received 

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Chamomile

Are you having open homes or inspection by appointment? 

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Hufflepuff

By appointment due to COVID 

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Hufflepuff
Posted (edited)

But I’m questioning now if that one appointment actually happened. As I had called him to ask for a general update. No feedback was provided on their thoughts despite asking him twice 

Edited by Hufflepuff
Bad grammar

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Chamomile
Posted (edited)

Oh that is really disappointing. Sounds like you’re on the market, but nothing is happening. 
Do you have an auction date booked in? 
Do you need to sell or could you wait until after COVID? 

Edited by Chamomile

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born.a.girl

That's pretty poor.  Any other information forthcoming?  Last we sold was Mil's unit and we got ?weekly I think, comprehensive written updates on how many had viewed the online ads, how many had read the whole listing, how many had clicked on contact details, how many had contacted them, not to mention feedback on people who'd inspected.  Obviously not Covid times, but given agents are asking people to be genuine buyers, understandably, you'd think you'd get some feedback, even if it was 'not for them'.   Is it online? Local paper/mag ad?

I'm assuming you're not in Vic given they can't even happen by appointment here, and the glossies are not being produced.

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Hufflepuff

Wow we haven’t had any communication like that. Maybe 2 calls the rest I have had to make. 
Its been on the market 5 weeks. Property is in ViC but we are not so that complicates it. Auction planned this weekend. Called today to ask if it’s going ahead as no inspections happened & now they obviously can’t at all Agent didn’t call me back so I called the office & asked for Director. Explained not happy said they would investigate. Still waiting.....  

couldnt be more upset over the whole thing. Not because of COVID just their incompetence!  Now not sure what to do?  

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born.a.girl
31 minutes ago, Hufflepuff said:

Wow we haven’t had any communication like that. Maybe 2 calls the rest I have had to make. 
Its been on the market 5 weeks. Property is in ViC but we are not so that complicates it. Auction planned this weekend. Called today to ask if it’s going ahead as no inspections happened & now they obviously can’t at all Agent didn’t call me back so I called the office & asked for Director. Explained not happy said they would investigate. Still waiting.....  

couldnt be more upset over the whole thing. Not because of COVID just their incompetence!  Now not sure what to do?  

I know it's no consolation, but I think you're in a really difficult position, and I honestly don't know what I'd do in your shoes.

This is the gist of what we got, once a week,

Quote

Hello,

Please find below a link to your weekly report showing the interaction with your property ad on realestate.com.au

There was a stack of information there.

Hopefully the EB members with extensive real estate experience will be able to advise you.

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hills mum bec
2 hours ago, Hufflepuff said:

Yes there is a budget noted, but payable on Written Request which we have not received 

This means that you will need to pay it when they invoice you, either at settlement or withdrawal.  I don’t think you will be able to avoid paying your marketing expenses.

its a tough time trying to sell real estate with all the restrictions.  Not sure what the restrictions were in Vic before stage 4 but I imagine they would not have been able to hold open inspections during the entire period you have had your property on the market.  When our office was at that stage in SA we really weren’t selling much at all.  Given current circumstances I would be cutting your agency a bit of slack.  Sucks if you need to sell urgently but I would imagine that buying a new house is the last thing on anybody in Victorias mind right now.

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luke's mummu

I would suggest getting a friend or relative to be a “ mystery shopper” for you- at least make some basic enquires and see how proactive the real estate agent is in following up leads. Disclaimer- I work as a professional mystery shopper.  But I’ve also purchased 2 properties in the last 10 years and some real estate agents are very lazy. 

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Holly298
Posted (edited)

The only way you can get out of the exclusive period is if the agent let’s  you out or if the agreement isn’t signed up correctly (you’d be surprised this happens more than people think!) 

is the property rented?are they having trouble getting access? Either way they should be reporting to you regularly- I would just ask the licensee why there has been no communication or reports and that you are not happy and want the agency agreement terminated ( they  may agree if you pay all the marketing) you just need something in writing saying we agree to terminate the exclusive agency agreement from today’s date - legally they are only entitled to claim  commission if the buyer they showed through during their exclusive period buys it ) 

also you have to sign off on a marketing budget? Is it on the agency agreement or a separate agreement? They can’t just invoice you any amount! 

honestly the next 6 weeks in VIC will be a hard time to sell so take it off for that time, find a new agent and start again in September 

Edited by Holly298

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Dianalynch

We have a property on the market atm, until stage 4 hit the market was actually doing quite well, with people still inspecting privately and online auctions going well. My local agency sold 8 properties in the week before stage 4. We had 5 groups through our property privately last weekend, that was considered low numbers as the worry about stage 4 was starting to impact. We received  a feedback report on the numbers through, how many asked for contracts, internet hit rates, buyer feedback and how many seemed interested. Melbourne real estate has been going along pretty well, don’t let them use Covid as an excuse. Keep on the director’s case. 

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Bereckii
Posted (edited)

This doesn't answer your question, but might help give you a sense of how much interest your property is attracting online.

If your property is listed on realestate.com, go to the listing and scroll right down towards the bottom of the page. There you should see how many "page views" the listing has attracted (it should appear right under the "property ID" number for your property listing)

Edited by Bereckii

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Holly298
40 minutes ago, Dianalynch said:

We have a property on the market atm, until stage 4 hit the market was actually doing quite well, with people still inspecting privately and online auctions going well. My local agency sold 8 properties in the week before stage 4. We had 5 groups through our property privately last weekend, that was considered low numbers as the worry about stage 4 was starting to impact. We received  a feedback report on the numbers through, how many asked for contracts, internet hit rates, buyer feedback and how many seemed interested. Melbourne real estate has been going along pretty well, don’t let them use Covid as an excuse. Keep on the director’s case. 

If you’ve had that much activity why hasn’t it sold yet? I think stage 4 will definitely slow things down again, especially if the agent is lazy 

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JRA

How could the auction go ahead this weekend with stage 4? 

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Dianalynch
2 hours ago, Holly298 said:

If you’ve had that much activity why hasn’t it sold yet? I think stage 4 will definitely slow things down again, especially if the agent is lazy 

Because we were going to auction, that was weekend 1 of our campaign. In our area that level of activity is considered to be very low. 5 groups through is nothing in an auction campaign. Your question seems very odd to me. We certainly don’t have lazy agents, under stage 4 there simply can’t be any in person inspections. 

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Holly298

That was my point, now is not the time to sell if you don’t have to as lock down has definitely effected the market, I was referring to OP having lazy agents makes her situation even worse 

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Luci

Obviously conditions are very tough for selling property in VIC at the moment.  But that is a separate issue from the terrible communication and not returning phone calls etc.  I don't really have any advice OP but I agree with a PP - could you get a friend to contact the Agent pretending to be interested and see what happens? 

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