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Old 08.03.2021, 10:54
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Warning tricks makler large real estate agents beware when selling property.

I wanted from a reputable well known swiss real estate agent to know price to sell property in 2016. It was free the valuation with all the glossy brochures and marketing on homegate etc.

They then gave a price then that seemed reasonable. I kept it in mind having compared with other well known real estate agent in 2018.

To cut a long story short in 2020 decided to sell and he came back on the phone he said the value had not changed i took him at his word i.e. trusted him even after he said Corona he didn’t know impact on prices big mistake.

So put the price up 4 % without thinking what could really be worth thought makler would work in my my interest big mistake. It should not be my job to come up with a valuation it is their job.

Big misrake! wrong pay chf3000 for a professional Gutachter to get the true value or else real estate will sell under price to sell it fast he doesn’t care he has to sell x property’s per year to stay in his job.

He then markets the property brochures internet and tons of people want to view it is sold in less than two months at the full asking price.

Two of the offers from other clients are not even shared with me and he has a clause if he finds someone i must go with it or else a forfeit his commission 1.5 times so I was put in a corner and felt nothing i could do so went with it. Do not be bullied by them seek legal advice even if you got to court potentially you save 100s thousands if don’t sell.

Turns out the house comparing others afterwards was worth 20-30% more even when taking into account renovation costs big mistake trusted real estate guy thought he was working in my interest. Never trust them !

To cut a long story short again and to warn others these people are not regulated there is not even an ombudsman therefore they can do what they want and it certainly may appear they are on your side but they are not.

Ignorance they will jump on and make a sale because it is clear with Corona real estate prices rocketed as interest rares fell to an all time low with rates falling in half.

Now the new owner has the cheek to suggest he will build another property on the land it wasn’t enough that got at a price discounted 20-30% below market.

I have seen whole community taken over by new builds and constructors making a quick buck so know only to well what it is about and it is clear real estate agents who have no oversight play a role in this phenomenon.

The process between real estate agents and constructors rips the sole out of the communities by putting up these multi story boxes in a few months the designs are dull and take the sun away.

Just warning others if you have a property to sell an old house with minor renovations be careful because if you don’t get a proper valuation independently the real estate agent will deny your pension pot stealing potentially 100s thousands from you to sell to a constructor and get his commission at all costs.

He doesn’t care impact on you, your family and your community he is not regulated and has no one watching his conduct and you cannot do one thing about it. Afterwards you approach them with feedback and all they do is say how they did a great job top salesman and met your request.

I am not a swiss passport holder but surely one day the swiss people should have a vote to control or regulate their behavior and make them accountable if not the fabric of swiss society will be destroyed there will be no longer houses only apartments.

After Sub prime (packaged real estate loans) there were changes in regulation. If you are not given clear transparent information on the value of your asset you can sue or take legal action if not transparent why should it not be the same for real estate it is just another asset class.

This behavior cannot continue and calling it out so that others do not go through this with the hope one day those who can do something will take a stance to stop this unscrupulous behavior which is actually no different to school bullying by people who are no different to car salesman turn up smartly dressed and know how to take a few pictures.

A referendum could stop their behavior, protect the vulnerable, regulate and make them accountable. Why should this not be the case as with other financial institutions.
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Old 08.03.2021, 10:57
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Re: Warning tricks makler large real estate agents beware when selling property.

It's 2021 and we have the internet, I really still wonder why anyone would sell their house through an real estate agent, or their car through a dealer for that matter!
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Old 08.03.2021, 11:13
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Re: Warning tricks makler large real estate agents beware when selling property.

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big mistake trusted real estate guy thought he was working in my interest. Never trust them !
Well duh!

And no, it's not their job to tell you what it's worth, as you seemed to think. Quite the opposite, it's your job to tell them what you're prepared to accepts for it.

This was always the case, in at least three countries that I have experience of, so it's quite astonishing that anyone ould think otherwise.
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Old 08.03.2021, 12:17
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Re: Warning tricks makler large real estate agents beware when selling property.

I’m lost. The agent earns less commission from a sale at a lower price....plus the house value is what it sells for in the timescale you need to sell.

Did I miss something? Is there a tl;dr version because the post is all over the place.
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Old 08.03.2021, 12:30
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Re: Warning tricks makler large real estate agents beware when selling property.

What the hell is "makler"?

Tom
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Old 08.03.2021, 12:40
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Re: Warning tricks makler large real estate agents beware when selling property.

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What the hell is "makler"?

Tom

Real estate agent
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Old 08.03.2021, 12:40
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Re: Warning tricks makler large real estate agents beware when selling property.

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What the hell is "makler"?

Tom
it's a term for a real estate person. Not typically used in Switzerland as far as I've ever come across but a common term, for example, in Austria.
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Old 08.03.2021, 12:42
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Re: Warning tricks makler large real estate agents beware when selling property.

As the Swiss very rarely move house, they would have little support or understanding for legislation for estate agents - what could you legislate for anyway??
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Old 08.03.2021, 12:52
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Re: Warning tricks makler large real estate agents beware when selling property.

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I’m lost. The agent earns less commission from a sale at a lower price....plus the house value is what it sells for in the timescale you need to sell.

Did I miss something? Is there a tl;dr version because the post is all over the place.
A quick sale, perhaps coupled with the option of doing someone a favor. It will make a difference for the agent whether a sale requires 5 hours of work or 100.
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Old 08.03.2021, 12:58
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Re: Warning tricks makler large real estate agents beware when selling property.

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As the Swiss very rarely move house, they would have little support or understanding for legislation for estate agents - what could you legislate for anyway??
How about to ban ‘poaching’? i.e. to prevent agents from advertising properties when they do not have a contractual arrangement with the seller. This happened to us.

How about making it absolutely clear who the agent is working for? On a different property our agent told potential buyers (without our knowledge or agreement) we were asking too much and that we would be prepared to negotiate. We weren’t.

How about require agents to be upfront about the commission they will charge. Require them to get an explicit agreement with the seller on this, and any other charges they might impose.

I’m sure there are others ...
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Old 08.03.2021, 14:00
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Re: Warning tricks makler large real estate agents beware when selling property.

If you sell in UK there is no way ever you get swindled like this. The point for me posting yes i agree my mistake what i did but what of people who not is position to understand what these people get up to dirty tricks. They have to be exposed even today the ceo of company told me four people were interested in property i was only ever informed of two how do you know if sales person is incentivized by buyer to make the deal it is clear in my case that was so. My point is people save all there life put on paying credit and for it to be stolen because the seller doesn't understand that he must get an independent valuation from a gutachter (appraiser). This should be compulsory to stop this practice and only then should the sale go ahead otherwise many people will be tricked for there lack of knowledge what these people get up to to work against you even though you pay them a hefty commission. If these posts stop dodgy shady real estate agents from the start and make people aware is worth it. Yes too late for me but that is why i posted to expose their practices.
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Old 08.03.2021, 14:07
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Re: Warning tricks makler large real estate agents beware when selling property.

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If you sell in UK there is no way ever you get swindled like this.
Rubbish. There's absolutely nothing in law to stop them recommending a lower price, e.g. for a quick sale, and absolutely nothing to stop you from trying multiple valuers/agents to try to find a consensus.

And you weren't "swindled". You agreed to sell at what you thought was a fair price, they sold it, you got your money. Sour grapes after the event 'cos you now think you could have got more for it doesn't mean you were swindled, unless you could show that some dodgy (and illegal) dealing was going on between the agent and the buyer, which you haven't even hinted at.
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Old 08.03.2021, 14:15
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Re: Warning tricks makler large real estate agents beware when selling property.

Just remember a valuation is an opinion, am actual sale price is a fact.
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Old 08.03.2021, 14:48
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Re: Warning tricks makler large real estate agents beware when selling property.

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Rubbish. There's absolutely nothing in law to stop them recommending a lower price, e.g. for a quick sale, and absolutely nothing to stop you from trying multiple valuers/agents to try to find a consensus.

And you weren't "swindled". You agreed to sell at what you thought was a fair price, they sold it, you got your money. Sour grapes after the event 'cos you now think you could have got more for it doesn't mean you were swindled, unless you could show that some dodgy (and illegal) dealing was going on between the agent and the buyer, which you haven't even hinted at.
I knew an estate against in the UK who specialised in selling for those divorcing - whoever was left with the house he confirm the selling price 10-20% lower than the achieved price, so the seller kept more of the matrimonial home.

How this worked with solicitors I have no idea...
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Old 08.03.2021, 14:52
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Re: Warning tricks makler large real estate agents beware when selling property.

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I knew an estate against in the UK who specialised in selling for those divorcing - whoever was left with the house he confirm the selling price 10-20% lower than the achieved price, so the seller kept more of the matrimonial home.

How this worked with solicitors I have no idea...
Underpricing usually results in a bidding war so a higher price is achieved due to demand.
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Old 08.03.2021, 15:21
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Re: Warning tricks makler large real estate agents beware when selling property.

I guess it is too late for you but some due diligence should have been done.

First point, you do not need a real estate agent to sell property in Switzerland.

Next time, use homegate and a notaire.
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Old 09.03.2021, 08:30
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Re: Warning tricks makler large real estate agents beware when selling property.

I was nieve never the less there needs to be consumer protection against these people. I will not be the first or last unless something is done about it.
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Old 09.03.2021, 09:00
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Re: Warning tricks makler large real estate agents beware when selling property.

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I was nieve
Always an expensive option. But you were not swindled. At least not in a way most people would view as swindled.
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Old 09.03.2021, 09:02
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Re: Warning tricks makler large real estate agents beware when selling property.

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It's 2021 and we have the internet, I really still wonder why anyone would sell their house through an real estate agent, or their car through a dealer for that matter!
There are circumstances where individuals have their reasons not to handle these matters on their own and are quite happy to pay a real estate agent to sell their house, or possibly accept a lower price for their car from a dealer who will take it off their hands.

However, it would be sensible to get more that one valuation on the house or car before deciding which agent to use or which dealer's offer to accept.
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Old 09.03.2021, 09:07
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Re: Warning tricks makler large real estate agents beware when selling property.

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Now the new owner has the cheek to suggest he will build another property on the land it wasn’t enough that got at a price discounted 20-30% below market.

I have seen whole community taken over by new builds and constructors making a quick buck so know only to well what it is about and it is clear real estate agents who have no oversight play a role in this phenomenon.

The process between real estate agents and constructors rips the sole out of the communities by putting up these multi story boxes in a few months the designs are dull and take the sun away.

Just warning others if you have a property to sell an old house with minor renovations be careful because if you don’t get a proper valuation independently the real estate agent will deny your pension pot stealing potentially 100s thousands from you to sell to a constructor and get his commission at all costs.

He doesn’t care impact on you, your family and your community he is not regulated and has no one watching his conduct and you cannot do one thing about it. Afterwards you approach them with feedback and all they do is say how they did a great job top salesman and met your request.

.
This part is VERY TRUE. I have been visiting properties as described (old houses of about 120 - 150 m2 built on the '30s, little or only partially renovated, with garden on plots of 300 - 600 m2) for the last year. Eight of them, to be precise. The prices were 'too good to be true'. Put bids on several of them (above the asking price). I wispered to my hubby 'we will never get any of these properties'. In all cases 'we were overbid'. In one case, the Makler (yes, that's how you call real state agents in Austria) told us that 'the owner, in order to give the same chance to everybody, suggested a 'second round of offers' (not sure if this is even legal). Bottomline. I have been following on the 'what happened to the property that we lost'. (yes, I am anal for that). And guess what, as Buckie states, in ALL cases, the house has turned into real state development with 4 - 6 cubic flats...
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