Pitch it low and watch it go or pitch it high and watch it die. The language used by agents when it comes to pricing a property. Agents are forever being accused of underquoting – pitch it low and watch it go – and every state and territory has laws that are supposed to prevent it. In Queensland, the State Government has passed a law that prevents agents from giving an indication or a price range on a property going to auction.
Veronica Morgan is Sydney based and she and Meighan Wells from Brisbane discuss the merits of price guides today in the show. Veronica and Meighan also discuss the best and quickest path to researching a market so as you become an expert in a particular segment. Veronica catches up with Eliza Owen about the impact of the Federal Government’s decision to direct money towards the construction industry via first home buyers in an effort to stimulate the economy. Is it a good long term or short term strategy?
Brad Beer joins Kevin Turner to talk depreciation and Veronica and Meighan share their buyers’ agent experiences in helping their clients set bidding and price limits on properties they want to buy. But first, here they are talking about underquoting by agents. Strap yourself in.