Читать книгу Inside Real Estate - O'Malley Peter - Страница 11

When buying or selling real estate you are entering into a business arrangement. It is therefore imperative to ask the tough questions upfront. Trying to wrestle with the hard stuff only after you are partially or totally committed is unwise and a waste of time.

As a buyer, you should ask the agent upfront to justify their price guide, with comparable recent sales, before investing your time and money in due diligence. If the price guide is $1 million and the recent sales evidence suggests $1.2 million, there is little point in turning up to bid your maximum of $1.05 million on auction day.

As a seller, if you are willing to sign on with a supersized agency, ask the agent how big their database of clients is – not the agency's, theirs. Ask if agents in the firm share contacts and, if not, does your agent have a personal list of suitable leads or will they be relying on expensive advertising?

Then ask the agent why you should have to pay their advertis-

ing bill if the auction fails to meet the price they quoted.

Ever since the First Fleet sailed into Botany Bay, real estate agents have been overquoting to vendors. No surprises there. But vendors continue to invest thousands of dollars on the agent's advice in the expectation of receiving a certain price. When that price doesn't eventuate, the vendor is left with no way to hold the agent to account.

Agents who stand behind their promises should be worthy of your trust.

Ask the tough questions upfront before signing any agreements or contracts.