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Podcast: Million Dollar Agent
Episode: Heated Debate on Underquoting: What’s Legal, What’s Not | Tim McKibbin, CEO of REINSW
Description: Send us Fan MailUnderquoting in real estate remains a persistent challenge despite years of legislative attempts to address it, with the REINSW CEO, Tim McKibbin, joining John McGrath and Tom Panos to unpack the legal and ethical dimensions of property price guides. The discussion explores whether underquoting actually benefits vendors or merely creates disappointed buyers who waste time and money.• The offence of underquoting is representing a price that's less than the agent's estimated selling price• Agents must work within a maximum 10% price range when quoting to buyers• If a vendor rejects an off...