Are real estate agents underquoting or beating expectations in a rising property market

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Properties in Melbourne and Sydney are selling for $100,000 to $200,000 above the advertised price.

Cobden & Hayson's David Carrozza said this particular sale was an"anomaly".

He said the indications to would-be buyers' pre-sale were in the $680,000 to $748,000 range, in sync with what the owner had been told. Ms Eldred said several agents gave lower prices than the couple expected the property to sell for, although she also could not prove it was underquoting. She said she could not prove it was underquoting, but was disappointed with the way the agent handled the sale.

 

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Are the media working with real estate agents on reports of 'rising property markets' while the economy is declining?

A little from column A, a little from column B. No doubt the price ranges quoted on websites are 'managed' to appear in filters (ie: 695-740k will appear in filters for sub-700). But if there's 20+ people at an open, then it'll probably go for well above the range regardless.

Yawn...

Underquoting all the way! Sham of an industry REIVictoria

Manipulating rrrrrrrholes

Why do we support auctions? Why aren't houses just put up for sale at a named price?

Trust a real estate agent ?

Yes

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