Agents dump sellers

Print This Post Print This Post

REAL estate agents are dumping vendors who are stubbornly holding out for ‘‘dream 2010’’ prices instead of dropping their reserve in order to wrap up a sale.

With the number of properties in Melbourne at record highs and listings set to increase over the spring, agents throughout the city are telling growing numbers of vendors that they can keep the house and are walking away.

Barry Plant managing director James Hatzimoisis said there came a time in the sale process when agents had to make a commercial decision and drop vendors demanding substantially more than the market was willing to pay.

‘‘There are always a percentage of vendors on the market who will only sell if they get their price,’’ he said.

Click here for the rest of the article (Press Display Website)

Share this Market Comment

About the author

Top