Under-quoting is now illegal and not to mention unethical but we all know it is still going on.
It’s important to draw a distinction between blatant under-quoting and competitive bidding, especially
because auctions are designed to extract the maximum price for a property.
Auctions can often bring out the worst and the best of human
Forewarned is forearmed, so here are 5 tips from RealRenta to help investors handle
agents who still use this tactic:
Be aware that under-quoting may be a factor in your next real estate transaction
Perform your own due diligence regarding the
Use the agent’s estimated selling price as a
If the agent’s quote is significantly less than
what you believe the property is worth, ask the agent to justify their price
Engage an independent buyer’s agent to perform
an analysis on the property for you and assist in negotiations.
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Monday, 16 September 2019