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.
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By Wendy Chamberlain
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With a passion for all things real estate spanning 20 years, Wendy loves that her role as a Buyers and Sellers Advocate gives her buying and selling clients an experienced voice they can trust when it comes to negotiating to buy or sell something as important as their home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.chamberlainadvocates.com.au for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.