Understanding Underquoting: What Buyers Need to Know | Ep 7

Buying a property in Victoria can be stressful enough, but when you consider the fact that many agents/agencies intentionally underquote properties, it can push some buyers to give up on the home hunting journey completely. Time and time again we hear from buyers that show us a property that sold for $100k - $200k above their budget that they tell us they went to auction or made an offer on a property that was ultimately out of their reach from the beginning.This can slow down the home buying process for months as buyers end up wasting a lot of time trying to just figure out their brief and what they can afford.So I want to arm you with the knowledge around why agents underquote, what the statement of information is and means and what you can do to really find out the price.Welcome to How’s The Market, a podcast for First Home Buyers and Upgraders that gives you tips, tricks & up to date real estate information from on the ground.Make sure to check out www.tomii.com.au to get access to our How's The Market blog and join the mailing list and we shall see you again in next week's episode!