Is underquoting unfair to buyers?

Are investors being discriminated against?
July 2, 2015

Let’s say a property is being offered for sale at $800,000 and later sells for $1 million. Is it unfair to the vendor? No, they are pleased. Is it unfair to the buyer who paid $1 million? No, they are happy they bought the property. So who is being treated unfairly? Agents have to act in the best interests of vendors. Agents know that a low price will bring in more people at inspections and selling a property has a lot to do with creating buyer interest and competition. So the only people who might have been upset are those with a budget of $800,000. Maybe so but if the property is going to be purchased by one family does it matter which family buys it? There is going to be one happy family and one or more unhappy families, no matter which family buys it. So is underquoting all that unfair?

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  2. WilliamCron says:

    Wow, great post.Really looking forward to read more. Want more. Heymann

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