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Real Estate Agents Tighten Price Estimates

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

 

REALas accurately predicts property values

REALas property valuations are 5% off home sale prices on average – Australia wide including auctions and private sales.  Almost 9 out of 10 of REALas home price guides are just 10% off the final home selling price.

There are thousands of homes on REALas.com

We help home buyers research the right price to pay for a home.

realAs real estate property valuation home price guide report

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Real Estate Agents Tighten Price Estimates
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