Greg......Real Estate agents are just that, they broker a deal between a buyer and a seller at an agreed value, and most cant even get that right.
The property price may or may not have come down, but believe me, agents get paid to sell stock, they couldnt give a toss about the prices they sell for.
And when they all get together and say oh its harder to sell property now they get their vendors to drop prices...and the rort continues.
Agent on 2% comms
$400,000 = $8000 $425,000 = $8500
yes a measly $500 for an extra $25k for the vendor, there is no logical reason for the agent to push up the price.....if it doesnt sell in a month they just tell the vendor to drop the price....and give them all the excuses in the world as to why.......but its never because they are a bad agent.....funny that.
So don't listen to agents would be your best bet.
The whole industry is built on smoke and mirrors.
I haven't met an agent yet who can tell me how much any one of my properties will sell for.
They are the most overpaid pamphlet distributors you will ever find.
The media speculates the property market is crashing Agents follow and say yes yes drop prices See it just means easier sales for them vendors think oh well better drop the price then so who wins?
The agents gets his sale and comms The stamp duty office gets their kick The bank gets paid or lends out The conveyancer gets his or her kick The advertising newspaper gets its big hit
The vendor gets shafted,brainwashed and sent off to the rental property line.
The buyer gets a cheap property.
Its just the usual trading in property now in reverse.
