You are viewing a single comment's thread from:
RE: The tumbling housing market in Australia
Maybe some of the issue here is real estate agents over valuing property in this current market hence higher vendor discounting required. And it sure is not looking good for property values for some time. Glad I have no debts it is very freeing.
Posted using Partiko Android
Possibly, as some of the more average ones buy their listings through over-inflation of expected sale price although Agents know they won't sell at those prices and so in reality will generally work to reduce the vendors expectation prior to marketing to give them a chance to actually sell the property and get their commission payment. Over-quoting rarely pays any dividends to the Agent and often means no sale and therefore no commission payment.
I think you'll find that Agent over-quoting would be the most minute contributing factor to these metrics.
I think you'll find vendors expectation on price is a bigger factor. Agents are obligated to act under the clients' instruction at all times unless that instruction contravenes Legislation (law) and so either have to take the listing at the vendors desired price or walk away. Many take the work and hope the vendor adjusts their expectation.
Posted using Partiko Android
Yes I see the vendors wanting higher prices then what they are likely to achieve. Thanks mate :)
Posted using Partiko Android