Brand or Reputation?

More than $2 million paid from Victorian Property Fund after Melbourne LJ Hooker franchise’s collapse

Who should you trust when it comes to selling what is probably your single biggest asset in life: your home? In most cases, homes in the inner and middle suburbs in Melbourne’s east are $1 million or more. A lot of money. When unsure, human nature can be to err on the side of whats seems to be safety. A known brand feels a bit safer. After all, if its known, then it must be alright because lots of others are using it.
This sort of approach can sometimes be devastating. As the following article shows, using a known brand for a product or service is no guarantee of safety. Nothing beats a little research and due diligence. Whilst the sellers here have now been compensated by the Government Fund set up to deal with these types of criminal acts, they have gone through the wringer emotionally and lost access to their home deposits for prolonged periods whilst the wheels of Government grind through the process of investigation.
When selling, please, please, insist on a guarantee of performance by the agent and undertake at least some basic checks on their reputation. Things like whether they can guarantee the sale price, whether you will have to pay any costs if the property doesn’t sell (current stats show that about 30% of homes that go to auction DON’T sell) and whether you can withdraw from your listing agreement if the agent does not perform as promised. Check their online reviews (you would do it for a restaurant meal!).This will not guarantee you won’t suffer the fate of the sellers below but a little research will be well worth your time. Don’t gamble your home.

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