You have not bought a property until you have a signed contract in your hand.

We recently helped clients find and purchase a property in a Melbourne bayside suburb.

The agent was unaware who our clients were. We always maintain our clients’ anonymity and tell the agent the buyer will let you know if they want you to know. If an agent asks who our client is it’s usually because they want to control who they tell what to and they want to make sure they are not relating our offer for a buyer back to the actual buyer and be seen to be gazumping.

The client walked in to the property for the second time a little excited and blurted out an offer. This commenced the negotiation which is normally handled by us. Due to the clients making the offer we backed off so there was not multiple interest and we advised the client what to say and do from the back seat.

Long story short agreement was reached and the agent promised our client the property was theirs and under no circumstances could it sell to anyone else. Signed, sealed and delivered. Our client was relating this to me when my phone rang. It was the agent calling so I took the call to see what they had to say.

The conversation with me after promising our client the property would not go elsewhere went like this. We have an acceptable offer on the property and it’s going to sell. How much I asked? The price was provided to which I responded that’s a good offer they should snap it up. The agent then proceeded to advise it won’t be signed until the morning, have a talk with your clients and if they want to offer more let me know, I’ll be available. My phone will be on and I’m also on email if they change their mind.

An agents’ obligation is to get the best result for their vendor we understand that. The part that we find difficult to stomach is telling the buyer in no uncertain terms the property is theirs then two minutes later getting on the phone and doing everything you can to gazump them.

Buying a property at auction in the current market is difficult but compared to being faced with this it’s probably the safer more transparent experience.

Our advice is to take everything the agent tells you with a grain of salt and do everything you can to get a signed copy of the contract back in your hand as soon as possible. If you neglect this aspect of the sale you are leaving yourself wide open to be gazumped.

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If you would like to engage us to buy a home, an investment or to manage a property,
or learn more about our services, we’re ready to hear from you.

1300 472 289

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