Just preying on those who are desperate? 🤔

In this guide, you’ll dive a bit deeper into the nasty world of private buying sharks. So when it comes to selling your house privately in New Zealand you’ll have no problems sniffing them out.

It’s no secret that the odd As Is Where Is private house buyer has been known to align with the
stereotypical car salesmen … or the classic loan shark
Seen as filthy vultures preying on the vulnerable in the community

But is this really the case?

And why has the industry (private house buyers) come to bear a bad reputation?

Let’s take every car salesperson in your town or city into consideration.

Now how many out of all of these salespeople do you think will fit the typical stereotype?

Maybe a handful? (if any)

In any industry, whether it’s cars, loans, real estate, the majority of that working class is willing to
help you and to do the right thing.

Sadly, In those same industries, you’re going to have the odd rotten egg who does business in
their wicked ways

And who do you think enjoys nothing more than exposing these minorities in the industries?

You guessed it… The media

Take a look at these Headlines for example:

Tell-tale signs that you’re dealing with a private buying shark

Most of the operators deal in the “Off Market” Market, that is, all real estate transactions are
conducted privately without an agent, so it’s a fair assumption you will find them there.

It’s important to note that private buyers are not governed by the same rules and regulations the
licensed real estate agents are under the “Real Estate Agents Authority Code of Conduct”.

Whereby a regulated platform oversees all dealings and handles complaints, minor and major
breaches of the code.

A rather ‘shaded’ territory for them to gather and do business.

But what if you do have a complaint, where can you go?

– Ministry of Justice

–Commerce commission

–IRD

–Citizens Advice bureau

–Police

–The Media

As you look for private house buyers in NZ you’ll come across multiple websites that have no
faces or names to themselves, their staff & employees, generally there are a couple of reasons
for this that you didn’t know about…

1. They may have links to other ‘competing’ websites in an attempt to monopolize and
corner the market

2. They may not want to tarnish their name or credibility by being associated with bad
dealings and unhappy customers

3. They may be associated with licensed Real Estate Agencies looking to use the website
as a lead generator for sellers and listings

You may be thinking, well easy for you to say about your competitors 🤷‍♂️

The truth is I used to work for one of my competitors and although they didn’t employ these
practices I eventually came to learn the dishonest tactics of their direct competitors

The good news is that most of them aren’t around anymore as they just move on to the next
best thing as the As-Is market, particularly in Christchurch has begun to dry up

Some Tell-tale signs to be mindful of

– Aggressive take it or leave it terms

– Offensive negative chat about the property and their competition

– Extreme and unfair low ball offers

– Zero-interest or empathy towards your situation or circumstance

– Exclude certain clauses that give the seller the opportunity to have it checked by their
solicitor

And who do these private buyers prey on?

– Sellers in extreme time-sensitive situations, Job loss or transfer/Medical, or health
reasons, forced to sell situations

– Sellers that have had previous offers crash and fall over, on market or off-market

– When sellers decline the original offer but go back to the buyer to renegotiate later

– Homeowners who are surrounded by development and live in areas with high
gentrification

– Elderly people that don’t quite understand the ins and outs of their property sale

You might be thinking “jeepers” selling my house privately sounds like a one-way ticket to the
biggest mistake you’ve ever made…

Until next time

Yours truly,

Billy

Your Property Solutions

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