Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

The Hangover

By Andrew McCulloch
19 April 2018 | 1 minute read

We’ve all had the experience of getting carried away and having a few too many. The next day, we’re never at our best, no matter how many coffees are on offer.

Based on my ongoing experiences in my quest to buy a new family home, it seems many agents in peak areas are suffering a hangover of their own — the result not of partying too hard, but of an extended booming market where many properties effectively sold themselves.

Last week alone, I had two interactions with agents that fell so far short of even basic courtesy. It was shocking.

The first saw the agent lie about other interested parties and then an imaginary sale. When the truth was revealed, it was clear the vendors had actually removed the property from the market entirely.

In the second, our well-above-quote offer was rejected prior to auction day. Although we’d made it clear we were unlikely to attend the auction, when the property was passed in without a bid, we received an aggressive and abusive phone call demanding to know why we hadn’t come.

In both instances, the conduct of the agent was poor and process was non-existent. There’s no way these agents could have been deemed to have been acting in the best interests of their vendors.

I know many agents are struggling to deal with changing market conditions. A wise man once told me to never get into a sword fight with a client. He also said all offers should be on paper and impartially presented to the vendor.

Perhaps these basics would be good starting points for dealing with the hangover.

The Hangover
AndrewMcCulloch raywhite 250x250 mar2018
lawyersweekly logo

Tags:

ABOUT THE AUTHOR


Andrew McCulloch

Andrew McCulloch

Andrew McCulloch is the Ray White CEO of network development.

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.