Underquoting. All buyers hate it, so why does it happen?
Underquoting has been around a long time. Real estate agents are legally required to provide a price guide for all properties listed for sale. They calculate the price guide based on past sales of similar properties within a specified radius.
So, working within the legal parameters agents will use available housing data to create a price guide which is always going to be at the lower end of the potential sales price. There are a number of reasons for this. Recently Wendy Chamberlain spoke with Dhea on Wise Women Wednesday for Brava Women in Business, and she explained the reasons why agents underquote.
Click here to listen to Wendy chat with Dhea and understand why underquoting is here to say.
Image source: Envato Elements
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