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Home  /  Blog  /  A property quoted between 800-900k sold for 1.168 million

A property quoted between 800-900k sold for 1.168 million

August 17, 2009 / General Observations, Market Trend

This property was sold for $1.168 million. The price guide quoted by the selling agent was 800-900k.

What accounts for this variance? Depends on which scenario you subscribe to:

  1. Intense competition drove the property price significantly higher than expected.
  2. Agent was not local and therefore provided an inaccurate price guide.
  3. Agent was deliberately underquoting to attract interest.

 

About Oliver Stier

Oliver J. Stier is the Director of OH Property Group, a leading Sydney buyers agency. He studied Quantitative Economics and Finance at Cambridge University (UK), University of Toronto (Canada) and Princeton University (USA). In addition to being a licensed real estate agent, Oliver also holds the Chartered Financial Analyst (CFA) designation.

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