Victorian divisional president of the Australian Property Institute, Steve Simpson said anything that assists consumers understanding the value of property is welcomed.
“However, despite the best endeavours of the estate agent, the possibility of the actual sale price falling outside an agent’s quoted price range remains due to the dynamics of the auction process.
“Only time will tell whether this initiative will assist in alleviating the practice of under-quoting however, it is a positive step in ensuring consistent practice by estate agents,” Simpson concluded.
Australian Property Journal
