Page 1

21 Things Real Estate Agents 
 


DONʼT Want You To Know 


•

How
to
buy
and
sell
at
the
same
time
 •

How
much
is
your
home
really
worth?
 •

Real
Estate
traps
 •

Questions
to
ask
Real
Estate
Agents
 •

Real
Estate
Agents
Commission
 •

Mystery
shop
Real
Estate
Agents


By
Lisa
Tremolada



Having
 worked
 in
 the
 Real
 Estate
 Industry
 since
 the
 early
 1990’s,
 I’ve
 been
 around
enough
sellers
to
know
that
nearly
every
owner
that
sells
a
property
 is
nervous.

 
 Owners
 are
 understandably
 worried
 about
 which
 agency
 to
 choose,
 which
 method
to
use,
and
ultimately,
how
much
money
they
will
end
up
with.
 
 We
 know
 and
 understand
 that
 it’s
 a
 huge
 decision
 to
 make
 when
 you
 are
 choosing
the
right
real
estate
agent.
 


We
also
understand
that
there
are
plenty
of
reasons
you
may
want
to
sell
 
 • 
Possibly
your
family
has
out
grown
where
you
live
 • 
You
want
to
start
a
family
 • 
You
want
to
downsize
your
property
 • 
You
want
to
downsize
your
loan
 



We
know
that
you
 also
want
to
look
 good,
feel
good
and
 achieve
the
best
 result.


 


We
know
that
you
want
the
 best
price
in
the
least
 amount
of
time.


 
 


We
also
are
very
aware
that
there
are
lots
of
stressful
situations
that
arise
from
 needing
to
sell.


 
 • 
Stress
from
living
in
a
home
that’s
too
small
 • 
Stress
from
financial
pressures

 • 
Stress
from
family
situations
changing
‐
whether
that
be
a
divorce
or
a
 death
in
the
family.



We
understand
thoroughly.
 



When
you
are
selling
your
home,
where
do
you
start?
 
 How
much
is
your
property
worth?
 
 What
sort
of
research
should
I
do
beforehand?
 
 
 
 
 
 
 
 
 
 
 
 


Put
simply,
when
you
 decide
to
sell
your
home,
 you
need
to
collect
 information,
and
the
 internet
is
the
best
place
to
 start.
 
 


One.

First
of
all,
inspect
your
local
Real
Estate
Agent’s
websites.


 
 Are
their
websites
full
of
relevant,
topical
and
current
information
relating
to
 the
real
estate
market?

(Not
irrelevant
topics,
about
say
politics
or
recipes)
 
 The
agents
that
rank
high
in
Google,
Youtube
and
social
media
rankings
are
 aware
of
the
need
for
a
high
internet
presence
so
buyers
can
find
them.
 
 Search
some
of
the
major
real
estate
portals.

 
 • 

http://www.realestate.com.au
 • 

http://www.domain.com.au
 
 After
you
conduct
your
preliminary
research,
you
may
then
be
tempted
to
 inspect
some
of
the
properties
that
you
like
with
the
view
to
buying.

You
may
 possibly
want
to
inspect
some
properties
that
are
similar
to
yours,
for
 comparisons
sake.





A
word
of
warning



 Try
not
to
fall
in
love
with
anything
before
you
sell
 your
home,
unless
of
course,
you
intend
to
obtain
 bridging
finance.


 
 We
wouldn’t
recommend
bridging
finance,
unless
you
 are
financially
capable,
for
the
simple
reason
that
if
 you
find
a
property
you
want
to
buy
before
you
sell
 yours,
you’ll
be
placing
unnecessary
pressure
on
 yourself.



 


Emotionally
and
financially.




 The
best
way
to
buy
and
sell
is
to
buy
and
sell
at

 exactly
the
same
time.
 


Two.

When
you’re
looking
to
sell
and
buy,
we
suggest
you
do
so
in
this
 order:
 
 1) 
Place
your
property
on
the
market.

You
don’t
have
to
sell!
 (at
this
stage,
think
of
it
as
testing
the
market
to
see
how
much
a
 buyer
will
pay.)
 
 2) Find
a
buyer
and
see
how
much
this
buyer
will
pay
for
your
property.

 (You
still
don’t
have
to
sell!)
 
 3) Find
a
property
to
buy.


 (If
you
don’t
find
a
property,
then
you
don’t
have
to
sell!)
 
 4) Check
your
finances
and
if
your
finances
match,
then
you
can
sell.


 
 You
should
always
remain
in
control.


 
 DON’T
ever
relinquish
that
control
to
a
Real
Estate
Agent.
 



Three.

When
you’re
trying
to
gauge
what
your
property
might
be
 worth,
make
sure
you
inspect
similar
properties
that
are
sold
in
your
area.

 
 There
are
many
websites
similar
to
ours,
containing
for
sale
and
sold
 properties.

Click
on
the
links
below
for
an
example.


 
 


MADDISONS
Real
Estate
Properties
For
Sale
 MADDISONS
Real
Estate
Properties
Sold
 



 
 
 When
you’re
browsing
‘for
sale’
properties,
keep
in
mind
that
the
 properties
you
see
for
sale,
have
not
been
sold!



 



We
don’t
know
the
following
things
about
properties
for
sale…




 
  Do
they
represent
true
market
value?
  Are
they
overpriced?
  Is
there
something
the
real
estate
agent
isn’t
telling
you?



When
you’re
looking
at
properties
for
sale,
don’t
gauge
your
asking
price
 by
the
properties
you
see.

 
 Go
by
what
has
SOLD.

 
 Only
use
the
properties
that
are
listed
for
sale,
as
a
reference
point.


 
 Properties
that
are
for
sale
when
you
enter
the
market
are
your
direct
 competition.
Buyers
will
compare
what
they
perceive
as
value
in
your
 property,
to
the
value
of
other
properties
on
the
market.


The
best
thing
to
do
is
to
call
your
three
real
estate
agents.
Ask
them
 to
provide
a
realistic
market
appraisal
of
your
property.
 



Four.


How
do
I
know
what
my
property
is
worth?
 
 When
real
estate
agents
and
owners
attempt
to
work
out
market
value,
 sometimes
they
can
be
at
very
different
prices.

Owners
and
agents
are
 potentially
coming
from
2
different
ways
of
thinking...
 
 1) 
An
owner
will
think
about
what
they
have
paid
for
their
property
 and
also
what
they
have
SPENT
on
capital
improvements
to
the
 property.
 
 2) 
An
owner
can
also
have
EMOTIONAL
attachment
to
the
home.
(eg
 It’s
been
their
family
home
for
30
years)
 
 3) 
An
owner
may
also
think
about
what
price
they
NEED
to
sell
their
 home
at
in
order
to
buy
another
home.


 
 It’s
important
to
appoint
a
Real
Estate
Agent
that
understands
and
works
 with
you
to
obtain
the
very
best
price.




Whereas,
Agents
should
work
out
market
value
by
 
 1) What’s
SOLD
in
the
area
–
This
is
the
most
important
gauge
‐
 Comparable
properties.

 
 2) What’s
FOR
SALE
in
the
area
–
Your
comparable
competition.

Just
 remember
what
a
property
is
on
the
market
for
is
only
a
guide.
An
 owner
can
ask
any
price,
it
doesn’t
mean
the
property
will
sell
for
 that.


 
 3) What
BUYERS
WILL
PAY
for
the
property.

What
buyers
does
the
 agent
currently
have
(NOW)
on
their
books
that
will
buy
your
 property
–
how
much
will
those
buyers
pay?
 
 The
Agent
must
work
for
you
and
your
best
interests.

They
should
act
 objectively
at
all
times
and
tell
you
honestly
what
they
believe
your
 property
will
sell
for,
rather
than
avoid
the
price
issue
by
suggesting
an
 auction.




Five.
Danger

 
 Unfortunately,
I
have
to
share
with
you
that
in
real
estate
there
is
a
 common
expression:
 


‘The
biggest
liar
wins
the
business’.


 



 
 Sad,
but
true.
 
 This
means,
that
some
agents
will
lie
to
you
and
tell
you
a
much
higher
 price
for
your
property
than
you
could
achieve,
simply
in
order
to
win
 your
business.
 
 Luckily,
in
this
day
and
age,
people’s
‘rip‐off
meters’
are
pretty
well
tuned
 for
people
not
telling
the
truth,
however
some
salespeople
are
very
good
 at
their
job
and
will
convince
sellers
to
do
all
sorts
of
things
before
they
 know
it.

 
 They
normally
push
to
secure
the
business
normally
with
some
sort
of
 deadline
attached.


 
 Here’s
just
one
example:
 


‘If
you
sign
with
me
today,
I
can
get
you
on
the
front
page
of
the
 real
estate
section
of
the
local
paper!’
 
 
 Be
careful
of
agents
pushing
you
into
accepting
their
deadline.



Six.
Keep
Them
Honest

 
 If
you
are
considering
going
to
auction,
or
you
think
the
real
estate
agent
is
 telling
you
a
much
higher
price
than
the
property
is
worth,
ask
the
agent
to
 guarantee
the
price
range
in
writing.

After
all,
isn’t
that
a
fair
thing
to
ask?
 
 This
will
force
agents
to
be
honest.
 
 Only
deal
with
Agents
who
have
a
consumer
protection
guarantee.
A
 guarantee
such
as
this
states
that
if
the
agent
doesn’t
sell
the
property
for
 the
price
the
agent
quotes
on
the
agency
agreement

–
you
pay
them
 nothing.


 
 The
guarantee
also
gives
you
that
peace
of
mind
that
if
you’re
not
happy
 with
the
agent,
you
can
leave
that
agent
without
penalty.

 
 
 
 
 
 
 Download
Your
Free
Copy
Of
The
 
 Homesellers
Guarantee
Here
 
 
 
 
 
 
 
 
 
 
 
 If
you
don’t
have
this
document,
you’ll
be
locked
into
a
contract,
possibly
 with
an
agent
you
don’t
want
to
be
with.


It
will
also
force
the
agent
into
 telling
you
the
‘real
price’
they
think
your
home
is
worth.




Just
remember
that
when
you’re
selling,
real
estate
agents
will
be
 literally
begging
you
for
your
business.

 


It’s
not
until
the
paper
work
is
 signed,
that
you’ll
see
their
 level
of
enthusiasm
drop.


 


The
highest
point
of
most
real
estate
agents
and
owners
relationship,

is
 when
they
sign
the
agency
agreement.



 
 The
bottom
line,
is
that
real
estate
agents
have
a
financial
gain
in
telling
you
a
 high
selling
price.


 
 Let’s
face
it,
they
stand
to
make
a
commission
if
you
sell
through
them.

 



Seven.
BEWARE!
 
 Most
of
the
time,
Agents
will
know
your
motivation
for
selling
and
almost
all
 of
the
time,
there
is
generally
a
timeframe
that
you’d
like
your
house
sold
 within.


 
 The
thing
is,
when
agents
know
your
motivation,
they
will
list
your
property
 based
on
your
time
frame
rather
than
your
price.


 If
they
know
that
you’ve
committed
to
buying
another
property
and
you
 need
to
sell,
or
that
you
must
move
by
a
certain
date
to
start
a
new
job
for
 example,
then
they’ll
not
only
list
your
property
at
a
lower
price,
but
also
 give
buyers
the
‘hint’
that
you
are
desperate
to
sell.


 


Desperation
for
a
seller
is
GOLD
for
a
buyer….


these
are
some
of
the
headings
agents
will
use
when
their
seller
is
desperate:
 


AUCTION



 


MORTGAGEE
SALE



 


DECEASED
ESTATE
 


QUICK
SALE
 


MAKE
AN
OFFER!


OWNER
DESPERATE



 



DID
YOU
KNOW?



 Agents
must
disclose
all
offers
from
buyers
to
the
 owners
‐
no
matter
how
low.



 
 • 
Verbally
and
in
writing.


 


Eight.

As
a
seller,
you
are
by
far
the
most
important
person
to
a
real
estate
 agent.

 
 Without
houses
to
sell,
a
Real
Estate
Agent
will
not
survive.


 Initially,
the
agent
is
keen
to
list
your
home
for
sale.

It’s
only
once
you
 
 sign,
that
the
agent
‘suddenly’
realises
your
property
is
overpriced
and
will
 start
to
‘condition’
you
down
in
price.
 
 
 Warning!
 
 
 Many
Real
Estate
Agents
will
avoid
 telling
you
the
real
price
of
your
 home
by
suggesting
that
you
 auction
your
home.



 
 
 
 
 Agents
will
tell
you
a
really
high
price
for
your
property
and
sign
you
up
at
 ‘any
price’
.


 
 Agents
will
even
tell
you
they
don’t
know
how
much
your
property
is
 worth.


 
 If
an
agent
says
that
they
don’t
know
how
much
your
property
is
worth,
 hire
a
different
agent.


 
 A
real
estate
agent
should
have
an
idea
of
how
much
your
home
is
worth
 within
a
10
%
range.


 



Nine.
Auctions
 
 Auctions
take
the
focus
off
the
price.
 
 Auctions
can
be
a
cop
out
for
agents.

This
method
allows
agents
to
avoid
 the
price
issue
all
together.

Auction
methods
try
to
sell
you
on
a
hope
 method.

 
 A
sign,
a
few
ads
and
a
prayer.
 
 With
Auctions,
agents
will
not
tell
an
owner
what
they
truly
believe
a
house
 is
worth.
Auction
agents
commonly
say,
“let’s
take
it
to
auction
and
see
 what
the
market
will
pay”.

 
 Hope,
hope,
hope.

 
 Please
print
the
consumer
protection
guarantee
below:




 
 
 


Consumer
Protection
Guarantee
 



If
you
auction
your
property
and
it
fails
to
 sell,
your
property
will
have
the
‘stigma’
 of
being
a
failed
auction.



 
 • 
Prior
to
an
auction
you
are
in
the
 power
position
‐
after
a
failed
 auction,
buyers
know
that
no
one
 wanted
or
bought
the
home.


 • They
also
know
how
much
buyers
 were
prepared
to
pay

(if
you
had
 bids).


 • These
results
are
published
in
the
 newspapers
for
all
to
see.
 • It
will
be
hard
to
sell
the
property
 for
higher
than
the

‘passed
in’
 price.




 



 


Consider
getting
a
valuation
before
you
have
Real
Estate
 Agents
appraise
your
property.


 

 • 
Unlike
Real
Estate
Agents,
the
Real
Estate
Valuer
 will
be
paid
no
matter
what
price
they
tell
you.


 
 • 
Some
real
estate
agents
will
tell
you
a
very
high
 price
just
to
convince
you
to
sign
up
for
sale
with
 them.
 
 • 
Valuers
will
be
unbiased
in
their
opinion
as
they
 have
no
financial
gain
in
telling
you
a
high
price.


 
 • 
You
can
use
the
valuation
as
a
bench
mark
on
your
 price.

 



Ten.
When
you
consider
using
a
real
estate
agent,
ask
them
the
following
 questions

 
 • Do
you
have
buyers
on
your
books
now
that
you
could
bring
through
 the
home?
 
 • What
price
will
you
guarantee
I
can
achieve?

If
your
life
depended
on
it,
 what
price
would
you
guarantee?

 

 • How
many
sales
did
you
make
last
month?
 
 • Can
you
give
me
a
list
of
your
last
5
sales.


 
 • Were
all
these
clients
happy
with
your
service?


 
 • If
I
called
those
owners,
do
you
think
all
of
them
would
be
happy
with
 you?

 
 • When
an
agent
tells
you
a
price
of
what
your
property
is
worth,
ask
 them
what
are
they
basing
the
price
on?


Properties
sold?

Properties
 for
sale
or
what
buyers
they
have
on
their
books?


 
 • Ask
if
they
will
guarantee
the
price
range
quoted?


 
 • Will
they
indemnify
you
for
any
loss
suffered
as
a
result
of
an
open
 house?
 
 When
you
are
choosing
a
real
estate
agent,
ask
them
how
many
buyers
do
 they
have
on
their
books
in
your
price
range.


 
 Agents
should
know
how
many
buyers
they
have
registered
on
their
own
 website,
and
on
other
real
estate
portals
such
as:
realestate.com
and
 domain.com
etc.


 
 
 
 
 



There
are
also
plenty
of
agents
that
feel
the
pressure
from
their
place
of
 employment,
to
secure
properties
for
sale
at
any
cost.

Sometimes
if
they
 don’t
secure
new
business,
they
could
lose
their
job.

 
 When
real
estate
agents
are
new
to
the
industry,
or
if
the
agent
is
not
 highly
skilled,
the
only
way
they
can
compete
and
win
the
business,
is
by
 telling
owners
a
high
asking
price
and
a
low
selling
fee.


 
 The
owner
in
the
process,
is
being
told
2
things
they
want
to
hear:
 
 • They
have
the
potential
to
obtain
a
higher
price
for
their
property.


 
 • They
will
receive
a
lower
commission
than
others
are
charging.




 
 Some
agents
will
list
your
property
at
a
very
high
price,
and
then
proceed
 to
‘condition’
you
down
in
price.


 
 If
this
has
happened
to
you,
look
at
the
price
range
the
agent
gave
you
as
 an
estimate
on
their
agency
agreement.


Pay
attention
to
the
mid
 range…
That’s
generally
where
an
agent
thinks
your
home
is
worth.
 
 If
you
feel
that
the
Agent
is
avoiding
committing
to
a
price
for
your
home
 or
not
telling
you
the
truth,
then
this
is
where
you
can
bring
out
your
 copy
of
the
Consumer
Protection
Guarantee.
 
 
 



Eleven.
As
we
all
know,
when
a
 property
has
been
on
the
market
a
 long
time,
people
think
that
if
it
hasn’t
 sold
quickly,
there
is
something
wrong
 with
it.

It
can
develop
the
‘lemon’
tag.


 


If
an
agent
is
efficient,
they
will
have
an
extensive
register
of
buyers
already.


 
 • 
Why
do
these
agents
need
your
money
to
advertise
your
home
when
 they
have
been
advertising
homes,

for
example,
for
the
last
10
years.
 An
efficient
agent
will
have
a
database
of
buyers
and

they
will
have
 systems
in
place
to
keep
in
contact
with
past
buyers.


 
 


Rather
than
agree
to
an
open
house,
insist
that
your
 agent
conducts
private
one‐on‐one
inspections
with
 your
buyer,
as
this
will
not
only
make
the
buyer
feel
 special,
it
will
also
greatly
assist
negotiating
the
best
 
 possible
price
for
your
property.




Twelve.
How
should
you
enhance
the
value
of
your
property?


 
 Different
buyers
like
different
things

–
some
will
pay
more
for
a
property
 either
with
OR
without
certain
features.
 
 For
example:



 
 Will
a
pool
add
value?
 Will
a
new
kitchen
add
value?
 
 The
answer
is
yes
and
no.


 
 Some
buyers
will
like
and
pay
more
for
a
pool,
some
won’t.
Some
people
 will
love
your
kitchen.

Some
buyers
won’t.

Many
will
want
to
replace
it.
 
  Some
people
will
pay
more
to
live
close
to
a
busy
road,
some
won’t.

 
  Some
will
pay
more
for
a
big
yard,
some
will
want
a
small
yard.
 
  Some
like
built
in
wardrobes,
some
don’t.
 
  Some
like
federation
style,
some
don’t.
 
  Some
like
big
houses,
some
don’t.
 
  Some
like
modern
houses,
some
don’t.
 
  Some
like
big
blocks
of
land,
some
don’t.



Just
because
you
have
certain
things
you
like,
doesn’t
mean
everyone
will
pay
 more
for
those
features,
we
just
need
to
find
the
right
buyer
for
your
 property
that
loves
everything
about
it.
 
 Click
below
to
find
out
how
some
sellers
achieve
a
much
higher
price
for
their
 property.


 
 Seller’s
Tips


DID
YOU
KNOW?
 
 The
real
auction
statistics
may
surprise
you.
 

 Newspapers
and
real
estate
agents
would
like
you
to
think
that
the
majority
 of
properties
sell
by
auction.


This
is
in
fact
not
true.

 

 To
give
you
an
example,
during
2009,

estimates
from
rpdata.com
show
that
 approximately
57,500
properties
were
taken
to
auction
throughout
our
 capital
cities
during
the
year.

In
the
same
period
there
were
approximately
 
317,000
house
and
unit
sales
across
the
same
combined
capital
cities.

 Given
this,
only
18%
of
property
sales
were
sold
via
the
auction
process
 last
year.
 

 Also
during
2009,
the
average
auction
clearance
rate
across
Australia’s
 capital
cities
was
69.2%.

This
result
indicates,
that
across
the
country’s
 capital
cities
only
12.5
per
cent
of
all
properties
transacted
are
actually
 sold
at
auction.
 

 In
Sydney
auctions
account
for
only
about
20%
of
all
real
estate
sales
and
in
 Melbourne
the
proportion
is
30%
of
all
sales.
 

 For
example
if
there
are
1800
sales
in
a
given
area,
20%
of
the
sales,
is
only
 360
sales.

That
means
1440
properties
sold
by
methods
other
than
auction.
 




Thirteen.
Contract
of
Sale
 


By
law
in
NSW,
you
must
have
a
contract
of
sale
and
a
signed
agency
 agreement
(if
you
are
using
a
real
estate
agent)
to
place
your
property
on
 the
market.



 
 This
law
was
brought
in
to
stop
‘gazumping’.

This
means
that
every
buyer
 has
the
opportunity
to
buy
the
property
and
exchange
contracts
before
 someone
else
does.


 
 If
a
real
estate
agents
offers
to
bring
buyers
through
your
property
without
 a
contact
of
sale
and
a
signed
agency
agreement,
don’t
use
the
agent.

 (Applicable
in
NSW)
 
  
They
are
breaking
the
law.
 
  It
is
NSW
Law
that
a
contract
of
sale
must
be
prepared
before
any
 buyers
can
be
told
about
a
property
for
sale.


 
  It
is
also
NSW
law
that
an
owner
signs
an
agreement
with
a
real
 estate
agent
outlining
the
price
the
property
will
be
promoted
at,
 commission
etc.


 
 
 
 
 
 
 
 
 



Fourteen.
Consider
getting
a
building
and
pest
report
 done
before
you
place
your
property
on
the
market.


 
 • 
You
will
know
if
there
are
any
surprises.

 

 • If
buyers
try
to
negotiate
on
something
that
is
not
 accurate.

(They
may
say
you
need
a
new
roof
when
 you
don’t).


 
 It
could
save
you
thousands.

 


A
buyer
may
not
be
interested
in
buying
this
report
off
 you.

 
 • For
a
person
to
have
any
legal
recourse,
it
needs
to
 be
addressed
to
the
person
that
it’s
written
for.


 
 E.g.
If
the
builder
fails
to
report
that
the
property
 has
termites,
you
can’t
sue
the
builder
unless
the
 report
is
written
in
your
name.
 



Fifteen.
Real
Estate
Commissions
 
 Real
estate
agency’s
can
appear
high
profile
and
charge
a
lesser
 commission
however
they
also
charge
you
thousands
in
advertising.

 
  Similar
to
ebay,
people
buy
a
product
for
cheap
and
then
pay
a
high
 postage
amount.

You
have
to
add
the
2
together
to
see
the
real
cost.


 
  An
agent
can
charge
a
small
fee,
but
can
cost
you
a
great
deal
if
they
 don’t
obtain
the
very
best
price
for
you.


 
  Think
about
how
much
you
end
up
with,
not
how
much
the
agent
is
 charging
you.

 
  Can
the
agent
demonstrate
how
they
can
negotiate?


 
  Does
the
agent
know
the
18
principles
of
negotiation?
 


• When
you
are
talking
to
an
agent
about
their
 commission,
if
they
lower
their
own
fee
in
a
 heartbeat
when
you
ask
them
to,
they
won't
 hesitate
to
give
your
money
away
by
lowering
 your
asking
price.




 Ask
them
to
demonstrate
some
great
ways
 they
have
negotiated
with
buyers
and
sellers
 in
the
past.
eg
Did
they
leave
out
some
 inclusions
such
as
a
dishwasher,
and
 negotiate
them
into
the
offer
later?

Did
they
 negotiate
a
longer
settlement
or
special
 terms.


 Some
agents
only
know
how
to
negotiate
on
price.
That
can
leave
 you,
the
loser.
 



Sixteen.
Real
Estate
Agents
Database
 
 A
real
estate
agent
should
have
a
contact
list
full
of
buyers.
 
 If
agents
have
a
database,
they
don’t
need
your
money
to
pay
for
 expensive
advertising
campaigns
to
promote
your
home.
 
 • 
A
reputable
and
efficient
real
estate
agent
should
already
have
a
 large
data
base
of
buyers.
 
 • A
Real
Estate
agency
should
have
their
own
marketing
plan
in
 place
for
their
office
to
attract
buyers
to
the
office.

If
not,
they
are
 relying
on
your
money
to
keep
them
afloat.

 
 • If
an
agent
is
asking
you
for
money
to
advertise
your
property,

 they
are
telling
you
they
don’t
have
any
buyers
for
your
property.
 
 • If
all
an
agent
is
going
to
do
is
advertise
your
property
using
your
 money,
advertise
and
sell
the
home
yourself.


 
 • If
an
agent
is
asking
you
for
money
to
advertise
your
home,
ask
the
 agent
if
they
have
sold
anything
recently
comparable
to
your
 property,
if
they
say
yes:

 
 • ask
them
where
all
the
buyers
are
from
that
campaign
 
 • ask
them
to
call
all
of
those
buyers
before
you
advertise
to
gauge
 any
interest
they
may
have
in
your
property.

 



Seventeen.
Advertising
 
 Agents
will
try
to
sell
owners
‘vendor
paid
advertising’
by
making
 comparisons
with
mechanics
–
saying
it’s
like
‘parts
and
labour.’

This
is
 absolute
rubbish.


A
mechanic
has
to
buy
parts
that
are
required
for
your
car
 otherwise
the
car
will
not
start.

The
mechanic
does
not
gain
any
benefit
from
 your
parts.


 
 
 
 Real
Estate
agents
ask
for
your
money
to
 
 advertise
your
home,
putting
big
photos
of
 
 
 themselves
and
their
logos
on
their
ads.

 
 What
these
agents
are
saying
to
you
is
that
 
 
 they
don’t
have
any
marketing
in
place
to
 
 
 attract
buyers
and
sellers
to
their
company.
 
 They
have
to
rely
on
you
to
pay
to
promote
 
 
 your
property
to
the
market.
 
 



 
 
 Consider
this
–
On
average,
agents
will
collect
say

$10,000
of
vendor
paid
 advertising
for
each
property.

If
there
are
10
properties
advertised
to
be
 auctioned
on
the
same
day,
that’s
$100,000
spent
on
advertising.

That’s
from
 only
one
real
estate
office,
on
one
night.


 
 I
have
been
to
auctions
where
no
properties
have
sold.

$100,000
was
flushed
 down
the
advertising
drain.

Agents
probably
don’t
think
much
of
it,
as
its
 spread
out
over
10
owners
and
it’s
not
their
money.

It’s
still
$100,000!


 
 I’m
sure
if
a
real
estate
agent
had
to
pay
for
advertising,
they
wouldn’t
be
so
 reckless
with
their
money.

 



Eighteen.
Open
Houses
 
 Agents
love
open
houses
because
they
find
a
lot
of
sellers.

Most
people
look
 at
properties
for
sale
before
they
place
their
home
on
the
market.


 
 • 
Agents
very
rarely
sell
homes
from
open
houses
 
 HOWEVER…
 
 • Agents
do
LIST
a
lot
of
properties
for
sale
as
a
result
of
open
houses.
 
 Regardless
of
all
the
pitfalls,
such
as
giving
up
your
privacy,
compromising
 your
family’s
security
and
not
being
covered
by
home
insurance
if
something
 is
stolen,
listing
properties
while
your
house
is
being
sold
is
one
of
the
major
 reasons
why
Agents
will
try
and
talk
you
into
having
an
open
house.
 


When
you
agree
to
host
an
open
house,
be
aware
that
 you
are
probably
not
covered
for
any
theft
arising
from
 the
open
house.
 
 • Because
an
agent
is
‘inviting
guests’
into
your
 home,
they
ARE
classified
as
invited
guests,
 (assuming
you
know
who
the
people
are).


 
 • Ask
if
the
real
estate
agent
has
insurance
to
cover
 you
for
any
loss
suffered.



 
 • Contact
your
insurance
company.

Due
to
high
 demand,
some
insurance
companies
do
have
 special
policies
specifically
for
the
purpose
of
open
 houses.

 



In
our
experience,
most
women
don’t
like
the
thought
of
allowing
strangers
 or
nosey
neighbours
through
their
home.


A
lot
of
women
consider
it
an
 invasion
of
privacy.

Especially
if
the
home
doesn’t
sell.



 
 • 
Your
family
is
much
safer
having
an
agent
bringing
only
qualified
 buyers
to
your
home.
 
 • 
A
major
rule
of
negotiation
is
knowing
all
the
facts.

Knowing
the
 property
well
enough
to
sell
these
features
to
the
buyers.
 
 • When

an
agent
knows
the
sellers
and
buyers
situation,
they
are
in
the
 best
position
to
help
both
parties
achieve
the
best
outcome.
 
 • Open
houses
make
it
difficult
to
know
your
‘buyer’
in
depth.

 


Can
you
tell
which
one
of
the
people
above
is
a
genuine
buyer
and
which
 ones
are
sticky
beaks?


 
 Neither
can
a
Real
Estate
Agent…



Nineteen.
DID
YOU
KNOW?
 
 Agents
will
heavily
suggest
open
houses,
as
they
obtain
many
listings,
 mostly
owners
that
are
window
shopping
to
compare
to
their
property.
 

 Principals
of
real
estate
agencies
like
open
houses
because
they
know

their
 staff
have
to
do
certain
actions.

Eg.
Attending
opens.
Etc.



 
 When
an
agent
lists
your
home
for
an
auction,
they
really
only
spend
2
 hours
possibly
3
hours
a
week

selling
it.

Half
an
hour
on
a
Wednesday
and
 half
and
hour
on
a
Saturday
(open
house
times)
 
 A
lot
of
agents
have
their
personal
assistants
attend
open
houses
rather
 than
the
agent
you
signed
with.


 
 • 
That
way
they
can
perform
twice
as
many
open
houses.

 

 • 
You
may
not
be
getting
the
agent
you
thought
you
were
representing
 you
to
sell.

You
may
be
allocated
a
junior.
 
 



Twenty.
Mystery
Shopping



 Before
you
employ
an
agent,
mystery
shop
the
 agent.


 
 • 
Call
them.
 
 • 
Ask
them
about
3
different
properties
their
 office
has
for
sale.

If
they
don't
know
about
all
 three.

Don't
list
with
the
agent.


 
 • If
you
list
with
their
agency
buyers
will
have
the
 same
experience
with
your
property.

It
will
 probably
cost
you
a
sale.
 
 


Pay
attention
to
the
following:


 
 • 
Does
the
agent
ask
for
your
name
and
phone
number
so
they
can
get
 back
to
you
about
any
new
properties
for
sale?
 
 • Did
they
ask
any
qualifying
questions
to
help
them
determine
if
you
are
a
 ‘hot’
buyer?


 
 • Did
they
just
tell
you
to
go
to
the
open
house?


 
 • 
Ask
the
agent
if
the
owner
is
negotiable.

See
what
the
agent
says.




 
 • Do
they
take
money
off
the
price
straight
away.

Or
tell
you
what
the
 owner
will
accept.



Just
remember,
what
they
do
to
you,
they
will
do
to
buyers.

 



Agents
love
signing
up
owners
for
auction
for
a
 number
of
reasons.


 
 • The
owners
are
committed,

mainly
because
of
 the
financial
commitment
involved
with
paying
 for
all
the
advertising.


 
 • They
are
also
committed
to
a
very
high
 pressure
selling
method.
 


Twenty
One.
Franchises
and
Social
Networking
and
Internet
 Marketing



 People
think
that
when
they
list
with
a
franchise,
they
will
have
access
to
a
 much
bigger
database
of
buyers.
The
reverse
is
actually
true.
 
 • 
When
you
list
with
most
big
name
franchises,
you
are
only
listing
with
 one
agent
in
that
company.

The
other
agents
in
the
office
are
not
 permitted
to
sell
your
home.


So
you
are
really
in
effect
listing
with
one
 agent.


 
 When
you
choose
your
Real
Estate
Agent,
ensure
they
have
a
business
model
 where
any
of
the
sales
representatives
in
the
office
can
sell
your
property.

By
 doing
this,
you
will
be
assured
of
more
agents
working
for
you
and
ultimately,
 more
buyers.



List
with
an
agent
who
is
web
savvy
with
social
media
marketing
and
internet
 marketing.


 
 • 
Print
media
is
the
old
way.


 
 • 
Most
newspapers
now
have
an
online
version.


 
 • Iphones,
smart
phones,
ipads
etc
are
becoming
a
way
of
life
 
 • Most
people
use
the
internet
as
social
proof.


What
are
others
saying
 about
a
topic?

 
 • They
see
what
the
agent
is
like
via
social
media.
They
get
to
know
what
 the
agency
is
like.

 
 



 


Wordpress
Blog



SOME
FINAL
TIPS
 
  Ask
an
agent
to
inspect
your
home
and
give
you
opinions
about
 what
should
be
done
to
the
property
to
prepare
it
for
sale.


 
  
I
don't
mean
advice
which
involves
them
spending
your
money,
for
 example,
spending
thousands
of
dollars
on
furniture
hire.

Things
 like
what
needs
fixing
or
painting
or
what
needs
‘decluttering’
is
the
 sort
of
advice
you
need.

 
  You
may
be
wise
to
fix
certain
things,
as
somethings
will
turn
some
 buyers
away.
 
  You
really
don't
need
to
have
a
public
auction
to
get
the
best
price.
 
  
Conduct
a
silent
auction.

This
system
was
developed
by
Sir
William
 Vickery
–
Sir
William
Vickery,
won
the
Nobel

prize
for
economics.

 He
discovered
the
public
Auction
system
is
flawed.


 
  Agents
love
Open
houses
because
they
are
introduced
to
a
lot
of
 future
sellers.

Agents
win
a
LOT
of
business
through
open
houses!
 
  If
an
agent
is
knowledgeable
in
the
area,
they
should
know
what
the
 property
is
worth.


 
  If
an
agent
tells
you
they
don’t
know
what
a
property
is
worth,
this
 demonstrates
clearly

that
they
are
either
new
to
the
area,
new
to
 real
estate
or
they
are
lying.





Thank
you
for
reading
our
report.
 
 I
hope
this
was
beneficial
for
you,

if
you
have
liked
this
report,
please
 comment
on
our
blog
page.
 
 I
hope
you
also
enjoy
the
free
videos
with
industry
experts
which
are
 aimed
to
help
you
achieve
the
best
price
possible
when
you
sell.


 
 These
videos
are
full
of
sensible
advice
that
you
don’t
want
to
miss.

 
 Thank
you
 
 Lisa
Tremolada
 Director
 MADDISONS
Real
Estate
 



Hi
everyone,
 I
hope
you
enjoyed
these
tips.


 Just
to
give
you
some
background,
I
started
in
real
estate
in
1994
and
within
18
 months
 owned
 my
 own
 real
 estate
 office
 on
 the
 South
 Coast.
 
 At
 the
 time
 of
 taking
over
the
Agency
as
Director,
the
office
was
under
a
Real
Estate
franchise.


 I
wasn’t
comfortable
with
franchise
operations.

After
all,
as
a
salesperson,
I
had
 learned
of
many
tricks
and
traps
that
real
estate
agents
were
taught.

The
truth
 is,
I
was
embarrassed
to
be
called
a
real
estate
agent,
particularly
when
it’s
fairly
 well
 known
 that
 only
 10%
 of
 the
 population
 thinks
 that
 real
 estate
 agents
 are
 honest
and
ethical.
 I’m
not
saying
for
a
minute
that
real
estate
agents
are
bad
people,
far
from
it.

I
 have
 a
 lot
 of
 great
 friends
 that
 are
 real
 estate
 agents.
 
 I
 just
 don’t
 agree
 with
 some
 of
 the
 methods
 they
 use.
 
 For
 a
 start,
 I
 feel
 that
 vendor
 paid
 advertising
 and
auctions
are
the
main
reasons
why
real
estate
agents
have
developed
such
 bad
reputations.

When
I
hear
of
sellers
who
have
spent
$70,000
or
more
with
 agents
to
advertise
their
home
and
then
the
property
doesn’t
sell
–
well,
that’s
 embarrassing
for
real
estate
agents
everywhere.


 I
can’t
believe
that
many
sellers
see
that
the
best
option
to
sell
their
home
is
to
 pay
 thousands
 of
 dollars
 in
 advertising
 costs
 and
 take
 their
 home
 to
 auction.

 There
are
better
ways
and
much
safer
ways.


The
most
popular
way
to
sell
is
by
 private
treaty.


 On
the
lower
north
shore,
the
perception
is
that
everyone
sells
by
auction.

 The
public
doesn’t
really
know
the
real
facts
when
it
comes
to
real
estate.


 Here
 are
 the
 real
 statistics
 from
 rpdata.
 
 In
 Australian
 capital
 cities,
 auction
 only
accounts
for
12.5
%
of
the
total
sales.
On
the
lower
north
shore,
auctions
 only
account
for
20
%
of
the
total
sales.

This
means
80%
of
properties
sell
by
 other
means.

 For
various
reasons
(that
you
would
have
found
in
this
report)
the
main
people
 pushing
 auctions
 are
 real
 estate
 agents
 and
 newspapers.
 
As
 you
 would
 have
 read,
these
people
have
the
most
to
gain.




Anyway,
 back
 to
 my
 story….
 After
 earning
 a
 solid
 and
 reputable
 reputation
 in
 Wollongong,
in
2001
I
sold
my
office
and
moved
to
Sydney
to
open
up
an
office
 on
the
lower
North
Shore.




 I
felt
that
the
people
of
the
lower
north
shore
deserved
a
choice
when
it
came
to
 selling
 their
 home,
 rather
 than
 be
 trapped
 into
 accepting
 real
 estate
 methods
 that
have
been
tried,
tested
and
proven
to
be
failures
a
lot
of
the
time.
 Our
customers
often
ask
us
how
we
made
it
into
such
a
tight‐knit
community
–
 especially
in
an
area
that
is
so
saturated
with
real
estate
agents
that
have
been
 here
for
so
long.

We’re
so
grateful
to
everyone
in
the
area
and
at
how
well
our
 methods
have
been
embraced
and
accepted.
 Our
methods
really
work
for
our
sellers.

Results
have
been
fantastic,
and
we’ve
 received
so
many
wonderful
testimonials,
including
many
video
testimonials
that
 are
located
on
our
website.

 We
 offer
 our
 clients
 a
 better
 way
 to
 sell
 and
 the
 truth
 is
 that
 these
 methods
 work
 exceptionally
 well
 in
 this
 area.
 Local
 residents
 expect
 personal
 service
 when
 it
 comes
 to
 buying
 and
 selling
 and
 that's
 what
 we’re
 aiming
 to
 do
 every
 single
day.

 MADDISONS
is
not
a
franchise,
we
are
a
boutique
agency
that’s
small
enough
to
 care,
yet
big
enough
to
get
the
job
done
well.

 After
reading
this
report
and
watching
the
videos,
you
may
decide
we
are
what
 you
are
looking
for,
or
you
may
decide
to
go
with
another
agency.

Either
way,
I
 hope
you
find
all
of
our
material
helpful
so
that
you
can
sell
your
home
with
less
 hassle
and
end
up
with
more
money
in
the
bank.
 Thank
you
for
reading
my
report.


 With
respect.


Lisa Tremolada Lisa
Tremolada
JP
 Director
and
Licensee
 MADDISONS
REAL
ESTATE






 



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21 Things Real Estate Agents Don't Want You To Know. Lisa B. www.dominatetheinternet.com.au  

21 Things Real Estate Agents Don't Want You To Know. By Lisa B. www.dominatetheinternet.com.au This is previous marketing I had in an ol...

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