REALNET TACTICS TO PUSH UP SALE!!!

Well, everything started quite promising. I made an offer to purchase a property in Beacon Valley, Mitchells Plain. I was informed by Realnet Agent, Chantal Norman that the bank would do its own valuation of the property. The said Property was listed for R650,000. The bank then found the property to be overvalued and only offered R530,000. After I have asked her to go and negotiate a better/fair price with the sellers, according to Chantal Norman, the sellers still want R650,000. Well, my argument is that clearly, ABSA bank is acting on my behalf to prevent me from overspending on the property since the bank found less value in the said Property. Well, the agent insisted that I could get the property if I forked out R120,000 out of my pocket (ridiculous!!!!). Well, I examined the whole situation and refused to fork out extra on the property just so that greedy Ms. Chantal Norman can make a sale.

When I asked her how they came up with R650,000 she had the nerve to tell me the sellers came up with the price. How can sellers come up with their own price, do they know how the process of valuating a property works, do they have set skills on the property market? I don't believe so. Well, unless they`re on par with property valuations, but still, that`s a long shot.

The only conclusion I can come up with is that Ms. Chantal Norman valuated the said property and told the sellers your property is worth R650,000. This price isn't realistic. Now she doesn`t want to admit that she has made a grievous mistake. This has caused so much stress on me, thus I am lodging a formal complaint with The Estate Agency Affairs Board of South -Africa ( EAAB ) against Ms. Norman since I have text messages as evidence. These agents are causing emotional stress and many times they make up offers to try and push the price up since she assessed the property and most of the time they are getting away with it. Since most of the time, we are not aware that they too are regulated by the EAAB.

Estate Agents are obliged to treat both the buyer and seller fairly. This means they do not lie about offers to all parties involved. They should be transparent.