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  • 2 weeks later...

So many advantages to a tidy site. Far more efficient a lot less accidents and the client always feels better about the whole thing. Can’t understand why others let their sites turn to shit. 

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Cant get a roofer till the 27th, apparently these guys are super busy.

Going through the process on selecting a RE agent.  Might make a post on that if anyone interested?

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On 12/04/2021 at 17:07, nzstato said:

Again, I like the pace these guys move.

No description available.

That scaffolding is wild. What happens once the cladding is on and the joinery is in? 

 

Does anyone know what the system is called?

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1 hour ago, Sambo said:

That scaffolding is wild. What happens once the cladding is on and the joinery is in? 

 

Does anyone know what the system is called?

if anything like the scaffolding the builders here are using its only up till roof is finished then it comes down to wrap, clad and install windows

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  • 2 weeks later...

Builders weren't going to wait on the roofer so got the sheet delivered and started on it themselves. My spare shed is brimming with building materials so with the roof on they can plow on with the rest now that the weather has turned here is the south.

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3 waters contractor was round to put in the new water connections, cant recall what the cost was for this (was in the total contract) but shouldnt be too much with such a short run.  New power connections due in a few weeks also.

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Had a brief chat with my lawyer this morning, just to sign an easement to the council over their sewer main, and a private one for the sewer connections into the new lots.  Title should be easy (and apparently not too much of a wait at the moment).

We are also having thoughts on just selling up the whole lot and just buying or building somewhere else, I have the pricing to do the relocate (60k+) but the hassle/financing factor plus the residual value of the bare sections, added to the fact availability of lifestyle blocks is getting harder means we are weighing up our options.

Watch this space, happy to receive questions also, I've had a few PMs along the way.

 

 

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Windows are now in. 

Picked an agent, negotiated <2% commission.  Post to follow on how to do that.  A few articles coming our how commission fees are obscene considering $ and the hot market, I agree but main reason is we sellers accept that without negotiation...

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5 hours ago, nzstato said:

Windows are now in. 

Picked an agent, negotiated <2% commission.  Post to follow on how to do that.  A few articles coming our how commission fees are obscene considering $ and the hot market, I agree but main reason is we sellers accept that without negotiation...

Look forward to hearing every detail of making an agent squirm, dealing with them was the worst part of house buying for us, they all came off as openly dishonest without even trying to hide how much they were ready to rip us off.

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53 minutes ago, NickJ said:

Look forward to hearing every detail of making an agent squirm, dealing with them was the worst part of house buying for us, they all came off as openly dishonest without even trying to hide how much they were ready to rip us off.

The agent works for the seller, not the buyer and thier goal, backed by % commission as an incentive, is to get the 'best' price - from the sellers perspective - ie the highest. 

But not withstanding that, i agree, when we were looking some of them came across as smug lying fucks so tended to work against us putting in our best offer, but with a long line of bigger suckers it seemed like pretty easy money to put up a sign, hold an open home  and then sort the offers from highest to lowest.

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3 hours ago, azzurro said:

The agent works for the seller, not the buyer and thier goal, backed by % commission as an incentive, is to get the 'best' price - from the sellers perspective - ie the highest. 

But not withstanding that, i agree, when we were looking some of them came across as smug lying fucks so tended to work against us putting in our best offer, but with a long line of bigger suckers it seemed like pretty easy money to put up a sign, hold an open home  and then sort the offers from highest to lowest.

Not trying to spam this up too much, but in my opinion real estate agents are not working for the seller either. They're working to maximise turnover. In a house worth 600k, 2%= $12k, to get $50k more of a sales price will require a whole lot more hustle for the agent to earn just $1k. A mates way of dealing with this was to offer 10% commission on $ over X, that's a real incentive to maximise what they're getting for you. 

We sold our house ourselves, was really easy, made a sign, listed on trademe, had an open home, took names and numbers at the open home, rang the people who attended that night and asked if they were interested in making an offer. Sold in a week. The best part was knowing exactly how the process was going. 

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So here’s my big on selecting an agent, and a bit on our strategy for selling this thing.  First disclosure, I don’t have a background in RE but my day job is in corporate sales and know a fair bit about the area  (various programs, training ppl etc).  Also, salespeople are people too mmmmkay.  Knowing what I know, I’m able to engineer the following process to the outcome I want.  Quick tip, sales is 100% built on information, be transparent with information and sharp with questioning and you can have them eating out of your hand (or visa versa…)  

I don’t really know any agents personally, so I decided to go to a few open homes ran by local agents who look to be successful.  Posing as a buyer I was able to get a bit of an understanding on how they operate from the other side.  Honestly a lot acted as professional clip board monitors, because the market is so hot right now, they’re sitting back and waiting for the deals to come to them – we want someone proactive but not pushy.  It was a pretty easy shortlist (3) to make, the ones that bothered to call me back and ask some questions….. I asked these ones to come to a visit of our place, and provide an appraisal on potential value and marketing strategy, at this point I’m letting them to try and ‘sell’ to me

All agents will give a market appraisal where they show comparable sales in the area and how they see that reflected in your property, they aren’t doing a favour here, they have to do that…   Be wary of agents who will look to ‘buy the listing’ by appraising your place super high as an attempt to wow you with greed.  At this stage I noticed already differences in offering, Agent #1 was very bubbly and talking a lot about how strong the market was, how well it would sell and how good they were at negotiating.  Agent #2 was more casual, walking through the different ways in which we could look to sell and asking questions about what’s important to us.  For me, this meeting had nothing to do with getting an appraisal (just say “yes, ok, that’s great” a lot), it was a case of gathering information about who they were, what drivers they looked to use so I could use that again in the next discussion.   I left each of these meetings outlining that I would be calling them on when we would speak next, but being clear that I would speak to them before making a decision. (if you are clear on YOUR actions and YOUR timeframe, you wont have them badgering you with calls).

 

Next meeting I’m flipping the script, I’m the one in control and asking all of the questions, the reasoning being that previously the agents are excited about the opportunity and this puts them on edge and more easily persuaded.   I’ve defined that the strategy will be to do a quiet listing on the house before it is finished – purpose to capture buyers now and when they might be thinking in a few months, also to do so during winter when new build listings (competition) are low.  If we don’t get an offer of something we like then we can pause to finish it complete and try again….  In any RE deal you’ve got 3 levers to pull in the negotiation – price, timing, and conditions.   In our situation, the second two are easy for us to be flexible in order to achieve the best possible $$$.   So here, I’m very much in control of the convo and the agent is the one saying yes to me, with their ability to manage the buying process being the key feature. 

It then gets onto commissions…. They both start that the standard rates are 4.5/2.5% but for me selling 2 houses they will get me a ‘deal’…. During this step, it is key to shut up, have long pauses before answering and show zero emotion (Chris Voss styles).  Agent #1 did start with “what do you think a fair rate”? after which there was some fumbling to do some quick math that their offer was 2%, but that I should indicate what I thought was appropriate.  For all the banter about being trained negotiators it didn’t take long for them to drop their rates with little encouragement.  Agent #2 was a bit cooler about the whole thing, straight up a fixed cash price for a sale followed with some questions on if there was anything presented up until that point that we were unhappy with or needed more questions answered. 

I have picked Agent #2, namely because he listened to understand what was important to us, what we feel the strategy should be and what expectations should be.  I have also said to him that I’d like to add to his commission, whereby as well as the fixed rate, if he gets over a certain $X then will receive an additional % - key is to align the incentive schemes of you and your agent….

Agent #1 by accounts is good at what they do, they were top in sales in their office and has lots of listings.  I feel that is due to be a hard hustler rather than an active negotiator, so the skills fit really wasn’t there. 

Lots more I could go into the theories behind this process, but it’ll end up getting into sales101…

 

 

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3 hours ago, azzurro said:

The agent works for the seller, not the buyer and thier goal, backed by % commission as an incentive, is to get the 'best' price - from the sellers perspective - ie the highest. 

But not withstanding that, i agree, when we were looking some of them came across as smug lying fucks so tended to work against us putting in our best offer, but with a long line of bigger suckers it seemed like pretty easy money to put up a sign, hold an open home  and then sort the offers from highest to lowest.

For alot of them, playing the game of FOMO is all they have got....

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