NSW Sold property listing with "Price Withheld"?

Discussion in 'Property Management' started by [d4rk-fr3d], 12th Jul, 2019.

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  1. [d4rk-fr3d]

    [d4rk-fr3d] Member

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    People,

    I've seen some of the recently sold property in most online listing website showing as Price Withheld, is it by law to make it that way before the Settlement period passed?

    Because in my case, before the Settlement period passed, the price was showing as withheld, but then now it is showing the actual price.

    Would it be possible to ask the RE agent who sold the property to update the price back to Price Withheld?

    Rgds,
    Fred
     
  2. Dan Wood

    Dan Wood Well-Known Member

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    Could save yourself a ton of time, by just asking the RE Agent instead of waiting for responses on a forum..

    Let us know how you go ;)
     
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  3. Michael Mitchell

    Michael Mitchell Well-Known Member

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    It's not a law for it to be published, some agents do it to generate interest (eg. interested parties call them up and they use that to try and get new business etc). Other reasons it may not be displayed are portal data format error, embarrassing sales price or conversely if someone over paid and doesn't want the general public to know they might request it not be displayed etc. Also, whilst the property is under offer/under contract - the negotiated price should not be disclosed in case the contract doesn't settle as this knowledge could disadvantage the seller when it goes back to market.
     
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  4. [d4rk-fr3d]

    [d4rk-fr3d] Member

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    OK, somehow it is already beyond the RE agent control since it is the Valuer Generals office that is publishing the information.

    Would that be possible for the actual homeowner to take down the price?
     
  5. serendip

    serendip Well-Known Member

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    I noticed there were alot more 'price withheld' listings once the market was dropping. They were quite happy to put the price when it was growing quickly.
     
  6. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    No, it is publicly available information supplied by the Land Titles office NSW. They sell this data to the Real Estate industry software providers like Core Logic RP Data, Domain's Pricefinder etc.
     
  7. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

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    We had this experience, requested that the agent withhold the price, which was done until settlement and then it became public information.
     
  8. highlighter

    highlighter Well-Known Member

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    This is usually a translation for "sold for less than reserve" in my experience.
     
  9. Scott No Mates

    Scott No Mates Well-Known Member

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    or...the owners are so embarrassed by the price that they're too smug to show off. :oops:
     
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  10. PMC Property

    PMC Property Sydney, Brisbane, Newcastle, Toowoomba Business Member

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