Under quoting

Discussion in 'The Buying & Selling Process' started by Brian84, 21st Oct, 2016.

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  1. Brian84

    Brian84 Well-Known Member

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    hi all,

    Just seen on Facebook that there is a real estate agent advertising to sell a property for offers over $700k. In my opinion it would be closer to $850+.

    Am I right in saying it is illegal to put a price low when they know it is worth a lot more.

    Please correct me if I'm wrong.

    Could be a decent purchase for someone with the funds.

    Or am I missing something.

    3 Casula Road Casula NSW 2170 - House for Sale #123548602 - realestate.com.au
     
    Brian84, 21st Oct, 2016
    #1
  2. Bran

    Bran Well-Known Member

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    No list price in the developer tools, range says 750-1m
     
    Bran, 21st Oct, 2016
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  3. Gockie

    Gockie Life is good ☺️ Premium Member

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    I'm sure it's illegal for real estate agents to advertise as "Offers over x" in NSW.
     
    Gockie, 22nd Oct, 2016
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    Brian84 likes this.
  4. mikey7

    mikey7 Well-Known Member

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    Would be a good buy if it was 700k..
     
    mikey7, 22nd Oct, 2016
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  5. Brian84

    Brian84 Well-Known Member

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    That's what I was thinking. No way it would sell for that.
     
    Brian84, 22nd Oct, 2016
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  6. Brian84

    Brian84 Well-Known Member

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    I would say it would be closer to 1mil price than the $700k
     
    Brian84, 22nd Oct, 2016
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  7. JDP1

    JDP1 Well-Known Member

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    I saw an ad recently where the agent says offers UNDER...
    I thought it was a mistake...
     
    JDP1, 22nd Oct, 2016
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  8. Scott No Mates

    Scott No Mates Well-Known Member

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    No different than putting a price on it imho. No one is going to pay more than asking .
     
    Scott No Mates, 22nd Oct, 2016
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  9. Scott No Mates

    Scott No Mates Well-Known Member

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    Scott No Mates, 22nd Oct, 2016
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  10. Big Will

    Big Will Well-Known Member

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    Wasn't 850k+ or closer to 1M than 700k so seems the REA did a right job.

    Normally you add 10-20% to a +price but see where comparable are ;)
     
    Big Will, 24th Oct, 2016
    #10
  11. Sackie

    Sackie Well-Known Member

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    Also not long ago a unit in Sydney, agent quotes 1mil (which was ridiculous). Sold 1.35m haha. So much for guide lines lol. Its all out war when good properties are for sale. No one tells the truth.
     
    Sackie, 7th Aug, 2017
    #11