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ARTICLE · 06 NOVEMBER 2016

Selling property and underquoting in real estate

Watkins Tapsell
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In this market auctions are common and sometimes there are differing opinions as to the value of properties.

AustraliaReal Estate and Construction
Watkins Tapsell
Watkins Tapsell
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Wats happening with... Selling Property and Underquoting in real estate.

Property prices are rising and there are a lot of people looking to buy. In this market auctions are common and sometimes there may be differing opinions with real estate agents as to the value of properties. The law has caught up with some real estate agents who underquote property values to foster interest in properties. To those unfamiliar with the marketing tactics associated with selling property, underquoting is the term given to the illegal process of advertising property, or representing property to potential buyers, at a value that is less than what a vendor is willing to sell their property for, or less than the reserve price at an auction.

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