Forget Winter, Spring is coming, and it will be huge

I attended 2 auctions in flogging rain on Saturday. The first in North Melbourne saw a single fronted Victorian home go under the hammer. In the freezing cold and rain and not enough space inside the home, around 50 people stood outside and waited for the auctioneer. A previous offer of $725k had been rejected […]

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How to manage Selling Agents who underquote

Agents who quote very low do so in order to disrupt a competitor’s auction or private sale. They do it to bring potential buyers to their property instead of them going to another. If 2 similar properties were going to auction, with similar attributes, land size etc and if they are worth about $600k, with […]

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Underquoting properties in the current market

How will selling agents handle the inevitable crack down on under quoting properties they have for sale? The Melbourne property market is beginning to split into different segments. For the past two years there has been solid growth across the board in almost all areas of the market with the exception of inner city apartments. […]

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Liberals going to the polls on underquoting

The Napthine government has decided to tackle underquoting head on. They are making the removal of underquoting an election promise. Prospective home buyers will finally be free of real estate agent underquoting with the practice to be eliminated under a re-elected Napthine Government. A re-elected Napthine Government will end real estate underquoting Real estate agents […]

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Underquoting: Who does it help?

Every weekend prospective buyers are walking away from auctions shaking their heads, and sometimes their fists at Real Estate Agents. The same story is heard over and over again. The agent said the “buyer interest” was around $450,000 or “we are telling people who have interest around $500,000 that they should look at this property”. […]

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