A recent study found 6 out of 7 agents ‘under quote’ homes.
This means, they tell people it will sell for less than they believe it will, to stimulate more interest.
In other breaking news, the sky is blue, and politicians don’t always fulfill on their campaign promises.
The reason they underquote is obvious:
As a Melbourne based valuer Greville Pabst. points out:
“…These agents that are trying to do the right thing by quoting the full price are not being rewarded by the market. They are not getting as many people to the auction and more of their properties are getting passed in…”
As any old grizzled old real estate veteran will tell you:
“Quote it high and watch it die. Quote it low and watch it go”
So, it’s in the best interest of the real estate agent, to get people interested by putting a low price out there…then letting the ‘raw emotion’ of the bidding process drive the price up.
But as investors it’s clearly not in our interest.
We want to pay bottom-dollar – not top-dollar.
How do you do that? The secret is to buy from motivated sellers – before they even think to list with a real estate agent.
That’s how you get deals like this one that ‘Deals on Fire’ speaker Nhan Nguyen snapped up.
If you want to discover how to ‘snag’ cracker deals like this…that can potentially put up to $60,000 in your pocket in less than 3 months….
Then, come along to Deals on Fire.
But you must hurry, because it starts in Brisbane/Melbourne/Gold Coast this weekend.