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bait pricing

Bait pricing and underquoting, just how effective is legislation ?

We start today by commenting on this article about New laws to combat underquoting.

While we don’t think that the new Baird government bait pricing laws introduced earlier this year to the housing industry were a bad thing – quite the contrary – we should also keep in mind that the slowing Sydney housing markets will have also helped lower the variance figures between the prices quoted and prices sold, which make these laws now look so effective. But it has been a good thing, and anything that stops unscrupulous agents gets our vote. List pricing in Victoria is all over the place, and is typically the least “accurate” in those hot markets where owner occupiers and some investors are most active.

We put to all potential property buyers that you take matters into your own hands and not rely on the accuracy of a list price. Do your due diligence, establish true market value for yourself and make your offers accordingly. Know what the likely selling price is of any property you’re about to purchase and don’t get caught out by unethical sales agents.

We help our clients by conducting all this research and due diligence and by placing offers that can secure properties even in over-heated markets.

Call us for a chat to discuss your Property Investment goals. 1300 077 766

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