Can I Report The Real Estate Agency?

Trying2SaveABuck on 27/06/2019 - 09:21
Last edited 27/06/2019 - 11:31 by 1 other user

Can I report the Ray White?

Went to auction last night won the auction via 2 other bidders at 760k the reserve was 770k instead of negotiating with just me they tried to get all bidders to reach the reserve.
We eventually all walked away.
This morning got a msg saying there was a offer of 761k so I threw back an offer of $761,250 we will only accept offers of 1k better.

Can I complain?

Ill add a bit more to the story they didnt approch me to negotiation even though i won the auction they went to the other bidder told me they said they were willing to pay 765k (which was a lie)

They are meant to negotiate with me 1st?

I would of paid 761k if the negotiated with me 1st as the winning bidder tbh i would of paid 770k if it came to it but they needed to negotiate with me 1st?

UPDATE: If nothing was done illegally im ok with it then i thought id ask

Thanks for those who offered advice

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closed Comments

  • Cyphar on 27/06/2019 - 09:33
    +4

    can I take them to court?

    For what, exactly?

    Cant I complain?

    They did nothing wrong.

    • Trying2SaveABuck on 27/06/2019 - 09:38

      I put a higher offer and they refused it?

      • Cyphar on 27/06/2019 - 09:48
        +10

        They have no legal obligation to accept it.

        You have no idea what you could take them to court for, you are just salty

        • Trying2SaveABuck on 27/06/2019 - 10:08
          -1

          Thats fair enough thats is why im asking…

          Geez ppl can ask for advice these days without shit ppl bagging them out for it

          • p1 ama on 27/06/2019 - 11:00

            @Trying2SaveABuck:

            Geez ppl can ask for advice these days without shit ppl bagging them out for it

            Ummm…no, it’s your entitlement mentality. What makes you think they have to accept your offer? Who do you think you are to make someone sell something to you?

  • EFC94 on 27/06/2019 - 09:34

    What exactly are you going to "take them to court" for?

    • Trying2SaveABuck on 27/06/2019 - 09:38

      I put a higher offer and they refused it?

      dont they have to take it to the vendor?

      • EFC94 on 27/06/2019 - 10:02
        +1

        Maybe the vendor gave them instructions to not accept bids of xxx amount?

      • brad1-8tsi on 27/06/2019 - 10:17

        dont they have to take it to the vendor?

        I don't believe so. When i was attempting to buy last year I made a series of offers that never went beyond the RE. They weren't lowball either.

        If you really want the property then make a decent offer - you'll forget the extra $5k once you've started to shell out on maintenance.

        • hmac on 27/06/2019 - 10:53

          I don't believe so

          They are legally obliged to provide the vendor with every single offer they have received

      • ThithLord on 27/06/2019 - 10:38

        Even if they do need to go to the customer, that's between the customer and the agency, matey

  • kahn on 27/06/2019 - 09:34
    +4

    Someone fetch me some popcorn, please.

  • 87percent on 27/06/2019 - 09:45
    +8

    There was a post the other day about "what has changed in ozbargain".. the constant posts like this where people are either
    - trying to get out of a speeding/parking/traffic fine
    - "scam" artists
    - I want to take X to court because of some stupid reason
    - who is at fault accidents

    Anything else I've missed?

  • [Deactivated] on 27/06/2019 - 09:45
    +1

    So you’re haggling over $250. On a house. Right.

    • Trying2SaveABuck on 27/06/2019 - 10:11
      -1

      It isnt about that i won the bid i would of paid 5k more tbh but they didnt negotiate with me even tho i won the auction

      U have to negotiate with the winning bidder which is was me? But instead they tried to pit all 3 bidders against ea other

      • spackbace on 27/06/2019 - 10:24
        +1

        U have to negotiate with the winning bidder which is was me?

        But you didn't 'win', you were under the reserve

        • Third_Gear on 27/06/2019 - 10:32
          +1

          Guy just doesn’t get it. An extra $250 on an existing offer? As a seller I’d tell him to shove it as you know the sale process will be a pain with that buyer.

      • stratbargain on 27/06/2019 - 10:35
        +1

        If you really want the house, why wouldn't you ring them right now and ask what you need to offer to get the house right now. No back and forth. You will come in right now and sign the paperwork. Unconditionally. Sounds like they would easily meet you half way at 2.5k… If it's more than 5K then walk away.

        An offer of $250 is just a waste of time imo.

        Forget the fact you were the highest below reserve offer. If it's the house you want go and get it.

        EDIT: Also the rules say you have first right to negotiate, but nothing stopping one of the other bidders from making an offer in the meantime, which sounds exactly like what happened here. Rather than accepting that offer they came to you giving you an option to negotiate but letting you know they've already had a higher verbal offer. Nothing at all wrong with that. If you want the house go and make an unconditional offer and give them 24 hours to accept.

        • Trying2SaveABuck on 27/06/2019 - 10:42

          Ok thats fair enough then i just wanted to be sure

          Im alright with losing out if nothing dodgy is done then i will let it go

      • [Deactivated] on 27/06/2019 - 10:45
        +1

        I’m sorry, but if you’re not going to even bother using proper words, I’m not going to engage you.

  • Amaris on 27/06/2019 - 09:47
    +3

    You should've offered $761,000.10.

  • bohn on 27/06/2019 - 09:56

    Being the highest bidder you win the right to be the first to negotiate - however, if nothing comes of it they will surely chase up the other bidders.

    • Trying2SaveABuck on 27/06/2019 - 10:12

      They didnt thats the thing the tried to negotiate with the other bidders at the same time?

    • [Deactivated] on 27/06/2019 - 11:02

      Not sure about all states but in Victoria you do not have the right to negotiate, this is simply a convention. The agent / vendor is not obligated to negotiate with you if they choose otherwise

  • Mad-cow on 27/06/2019 - 09:58
    +2

    My bid would be 762K then. I bet its gonna cost more than $750 to take it to court.

    I am guessing this is your first rodeo? You are the type of people agents love.

    • Trying2SaveABuck on 27/06/2019 - 10:15

      Ive always hated agents but wheb you win a actionyou have the 1st right to negotiate? I didnt get that

      • Amaris on 27/06/2019 - 11:03

        Don't think there's a law stating that they have to first negotiate with you.

  • CyberMurning on 27/06/2019 - 10:32
    +1

    Yes all agents are scumbags. Most of the time they will lie saying there is another bid. We don't know who could be just imanigary person

  • Skramit on 27/06/2019 - 10:34

    Went to auction last night won the auction via 2 other bidders at 760k the reserve was 770k instead of negotiating with just me they tried to get all bidders to reach the reserve.

    I think you're leaving out a whole lot of detail here.

    When you say you 'won', did the auctioneer 'pass-in' the property and close the auction and you were the highest bidder? Or did they pause half way and seek instructions from the vendor, then return and continue the auction?

    Your description is way too vague for people to pass judgement.

    • Trying2SaveABuck on 27/06/2019 - 10:39

      Sorry i dont mean to be the put a vendor bid of 770k

      Then passed it in

      However i was the last bidder at 760k

      • Skramit on 27/06/2019 - 10:41

        Then after that what happened? What do you mean by this exactly:

        tried to get all bidders to reach the reserve

        Did he pass the property in then seek more bids from 3 bidders? That seems highly unlikely.

      • stratbargain on 27/06/2019 - 10:41

        Sounds like the Vendor was the last bidder at 770k…

        • Trying2SaveABuck on 27/06/2019 - 10:45

          Fair enough i just wanted clarity because i was the last actual bidder i thought that would give me the right to negotiate

          I understand that other bidders can offer more if no wrong doing has been done that is fair enough

          Im not offering a dollar more simply out of principle the property was advised for 730-780k the agent said the reserve was on the lower end of the scale and though you cant trust the agent the house is barely worth 750 lets alone over 760k

          Thanks for all the insightful comments

          • stratbargain on 27/06/2019 - 10:49
            +3

            @Trying2SaveABuck: It sounds like you might be new to the market. But a few tips that might help.

            firstly if you act out of principle you are going to get nowhere in the property market.

            Ignore reserves, ignore ranges. Do your research. You can basically pinpoint the value of a property by knowing what similar ones have sold for recently. Use http://house.ksou.cn/ The REA will say what ever they can but ultimately a property is worth what people will pay for it.

            If this is the home for you and your family then go and buy it. Don't fall $5k short of what you would have offered 'out of principle'. You're the only one that loses in that scenario.

            If you don't care for the property then move onto the next one, but take the advice above as it will save you a lot of grief.

            • Trying2SaveABuck on 27/06/2019 - 11:06

              @stratbargain: I thank you i have only ever bought properties for investment purposes. But this house is a house to live and raise our children in and it is far more emotional.

              I do feel like i was lied to but unfortunately agents lying it not illegal or uncommon.

              i will take the advice of all ppl i guess im just a little disappointed i didnt get the house

              thanks for your advice

          • spackbace on 27/06/2019 - 10:52

            @Trying2SaveABuck:

            the house is barely worth 750 lets alone over 760k

            Wait what, 38mins ago you said this:

            tbh i would of paid 770k if it came to it

            • Trying2SaveABuck on 27/06/2019 - 11:18

              @spackbace: Well at the time i wanted to win the property auctions you can get swept up in emotions im level headed now and i wouldnt but on the night if there were willing negotiate with me i would of paid the reserve if they agree to a building inspection

              but i wouldnt of paid 770k unconditional if the negotiated with me at the timem

            • Skramit on 27/06/2019 - 11:22

              @spackbace: Ease up ;) He's quite emotional.

  • sweefu on 27/06/2019 - 10:45
    +1

    Firstly, the vendor bid was the final bid, so you did not win the auction.

    Second, realestate agent acts for the vendor, not you. why would they not include all interested parties in the negotiation?

  • kolorijo on 27/06/2019 - 10:46

    I'd just go with $1k increment as suggested & table an offer of $762k. Obviously that was the amount of money that the vendor wants.

    A good REA will do whatever necessary to get the best price for the vendor. I'd go with them if I have a property to be sold in the area you mentioned :D.

    At the end of the day, if it is the house/unit that you want, what is the $750 difference means in the grand scheme of things? Unless you are not too keen on it, then stand your ground and be prepared to lose the property.

  • curtturtle on 27/06/2019 - 11:01

    If you fail to meet the reserve you are not the winner of the auction. If it is passed in the auction is considered to have no sale. They do not have to negotiate with anyone.

  • Quantumcat on 27/06/2019 - 11:24

    If it is a house you can see yourself living in for the next ten years don't let a few $k get in the way. You're chasing a few dollars at the cost of having your dream house to live in.

    When I bought my house I only went looking on one day. Saw this house and loved it, it was so much better than all the others and I could picture exactly what I was going to do with the back yard and where all my furniture would go and in a beautiful location etc. It was around 5-10k more than other similar places. Made an offer next morning, price was listed as "$X+" so I made an offer of $X+2, they tried for $X+5 and we settled on $X+3. Saved a few thousand on rent cause told tenants they could move out whenever they were ready (lease was until 4 months from contract exchange date), our place said we could move out with a week's notice so when they moved out a month later we started as well and used the week to organise some renovations and furniture moving. With the rent saving we were probably only down a few k compared to looking for weeks and weeks and finding a place 5-20k cheaper but for that price we got our dream house with very bare minimum of stress. I would trade a few k for that any day of the week honestly. You just have to think, is a few k going to be worth the extra few weeks or months of stress looking and negotiating, or do you know you've found your dream house and are happy to pay a little more to make it go smoothly and quickly? If this is your dream house just get it and leave the gameplaying at the door.

  • Moderatorscrimshaw on 27/06/2019 - 11:31

    Thread closed and marked as solved.

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