Real estate advertising question..

Our house is on the market..

About half the real estate agent companies in Palmy have decided together that they will no longer advertise in the property press (the main paper form of real estate advertising in Palmy) because they have discovered they don't charge fairly to all the companies..

Thats all well and good for them BUT their alternative where all the agents have gone is the additional thing that comes out with the Manawatu standard who has a majorly declining readers base. Plus they have just gone and done this. People looking for property dont know that they need to look for 2 property advertising things. And the property press gets delivered to mailboxes all over town vs the standard where you have to go and get it. I personally didn't know there was an additional thing the standard did until we were told about it and we have looked for houses on a few ocassions which makes me wonder how many people know it even exists.

This annoys me. Our appraisal clearly states that we will get ads in the property press and how big they will be etc. We were only informed by lj hooker (both our agent and the boss of palmy) after they had decided to do this. Every open home we have had when its been advertised in the property press we have had several people through. This week, the first week not in it, we had none.

What my question is, do you think its right that they can do this given the written appraisal states what lj hooker will do for us? Our agent is coming over tomorrow to chat to us and I wanna get sh*tty about it.

They informed us they were doing it AFTER they pulled out of the property press not before.

One of the main reasons we decided to sell with an agent vs sell privately is that we wanted the advertising in the property press because its where everyone goes to look plus the net. We could have done the net advertising ourselves.

I don't know anyone that buys the standard.

Is the appraisal part of your contract with the agent?

Its already on trademe, but like I said, we could have done that. And our appraisal states that we will have an ad in the property press EVERY week so I think I am gonna do my nut tomorrow.

No way! You paid them alot for advertising your property and that was one of the main costs I imagine. I would be asking for a refund or threaten to go somewhere else.

We always look at the PP, never buy the "Sub Standard"

And yeah I'd be pissed too!

I'd be peeved too and you have every right to be sh*tty about it.

The way I see it is if your marketing contract with them clearly states that they will advertise your property in the property press for the contract term, then they should have continued to keep advertising your property in the property press until your contract with them expires, along with any other properties being marketed by them under a similar contract. What they have done is basically a breech of contract. If they wanted to cancel ALL advertising with PP, then they should have phased it out rather than cancel it all outright. What they should have done is contact you and all other clients PRIOR to cancelling the PP advertising and given you the option of (a) continue advertising through pp until your contract with them expired, or (b) got your permission to go with the alternative. If you or any other clients opted for (a) then the agents should do so as per the contract states. Then if you or any other clients wanted to re-market the property with them, then they really should make sure they have a new form of marketing contract in place to reflect the advertising changes, as well as for any new clients signing up.

Good luck speaking with the agent tomorrow.

I would be furious. If your contract said (and you paid for) advertising in the PP and they have now decided for whatever reason that they are not going to run your ad, then that's a breach of contract. Ask for your money back, or a reduction in commission or tell them you will list with someone else seeing as your contract is in breach so you are no longer tied to them (legally I'm not entirely sure how that would work but I'd still say it!).

Oh, and otherwise you could also say that you'll complain to the real estate agent commission, not sure what the proper name is.

Edited by Febgirl

How did you get on with your agent? OMG the PP is empty.
Have the RE companies told people they've gone elsewhere, I'd be a bit annoyed if I was a potential buyer and couldn't find any listings.