It’s known as the “foot in the door”, and it’s been around for decades. Estate agents are always letter-box dropping cards advertising “Free Market Appraisals” or “Find Out What Your Home Is Worth”.It is important for consumers to note that a free appraisal is worth what you pay for it – NOTHING! Remember, there is a huge difference between an “appraisal” and a valuation. Estate agents can (and do) tell home owners what they want...
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In an article titled “Determined auction goers defy grand final fever” Kate Nancarrow (The Age, Monday 26 September, 2005 p.4) quotes real estate agent Rodney Morley of TBM Real Estate as saying: We’ve got the perennial problem of what we call ‘agents buying business’. They tell the vendors $500,000 more than we would. It’s nearly our best source of listings – disgruntled vendors who’ve gone to auction with someone else.” What is left unexplored is...
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OPINIONby Peter Mericka B.A., LL.BReal Estate LawyerQualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd The website of Whatpricemyhouse.com advertises to consumers who want to know the “price” of their home, but here’s what it tells estate agents: “Here’s How Any Real Estate Agent Can Trade-InTheir 80-Hour-A-Week Job, and instead … Work Only 25 Hours A Week Sitting On Their Bum (At Home Or On Holiday) … And Still Pull In $200,000-$300,000 A Year –...
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OPINIONby Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au A typical marketeering scenario begins with cold-calling of unsuspecting Mums-and-Dads to tout wealth-creation and/or tax saving seminars then proceeds to the slick selling and financing of specially selected investment properties. Those with snouts in this profitable property trough include sold-out financial advisers, amoral real estate agents, dodgy developers, willing builders, maggot mortgage brokers, parasitic solicitors, one-eyed valuers and disingenuous lenders. They are all in-the-know as this recent (slightly...
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by Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au The following is an email from estate agent Chris Warren to Tim O’Dwyer. At last there is an estate agent who is prepared to tell consumers that estate agents are NOT valuers. “Hi Tim, Have recently read your article where you say owners should get valuations before listing their properties. You may be interested to hear that for the last 3 months we have...
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