What Happens If Auctioneers Must Disclose the Reserve Price Before Auctions in Melbourne?
- Rayson L.
- 2 hours ago
- 4 min read
The Victorian government recognises that underquoting seems rampant in the real estate industry, and one not disclosing the reserve price is seen as contributing to the feeling of the property being underquoted. So, they are intending to change this. There are plans to make the disclosure of reserve price compulsory.
Will this effectively stop underquoting? Will the sales agents work with or will they work around this new rule? I can bet, there will be ways around it. And we have already identified at least 5 ways the sales agents can navigate around this new rule.
Will Disclosing the Reserve Price End Underquoting?
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