REALas Australia’s most accurate property price predictions
REALas Australia’s most accurate property price predictions

Real Estate Agents Tighten Price Estimates

Real Estate Agents Tighten Price Estimates
March 10, 2017 Josh Rowe
agents tighten price estimates

Real Estate Agents Tighten Price Estimates

Real Estate agents have tightened their price estimates to be closer to the final selling price of homes. With new underquoting legislation coming in Victoria and existing legislation in New South Wales, the pressure to act fairly and transparently is high.

Real estate agents which provide accurate price quotes before an auction save customers time, money and heartache.

Here are the top 10 real estate agents:

VIC Accurate real estate agents Sold Price vs Agent Quote Sold Price vs realAs.com
1 Sweeney Estate Agents – Footscray 8.5% 4.9%
2 Brad Teal – Essendon 8.6% 9.7%
3 Chisholm & Gamon – Elwood 8.9% 5.2%
4 Buxton – Oakleigh 9.5% 4.5%
5 Compton & Green – West Footscray 9.7% 5.2%
6 hockingstuart – Rosebud 10.0% 2.9%
7 Buxton – Chelsea 10.0% 7.1%
8 Buxton – Hampton East 10.1% 4.8%
9 McGrath – Northcote 10.1% 7.6%
10 Biggin & Scott – Prahran 10.1% 7.6%
Source: REALas.com January 2017

 

NSW Accurate real estate agents Sold Price vs Agent Quote Sold Price vs realAs.com
1 McGrath – Castle Hill 5.9% 8.0%
2 McGrath – Sylvania 6.1% 8.6%
3 McGrath – Epping 7.3% 10.6%
4 Ray White – Gladesville & Ryde 7.7% 13.2%
5 BresicWhitney – Balmain 7.9% 3.6%
6 LJ Hooker – Padstow 9.0% 6.9%
7 McGrath – Balmain 9.1% 4.3%
8 BresicWhitney – Darlinghurst 9.8% 7.3%
9 McGrath – Neutral Bay 10.4% 6.4%
10 Cobden & Hayson – Balmain 13.0% 7.8%
Source: REALas.com January 2017

 

With respect to the survey:

  • it is for auctions in January 2017
  • from Victoria and New South Wales
  • only real estate agencies with 4 or more publicly available quotes and auction results were included
  • the “Sold Price vs Agent Quote” is the average percentage difference between the sold price and the public agency quote
  • the “Sold Price vs realAs.com” is the average percentage difference between the sold price and the realAs.com prediction

 

 

  • property values

    The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of REALas.


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