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The Guardian - AU
The Guardian - AU
Business
Caitlin Cassidy

Underquoting in Australian real estate industry is leaving buyers feeling betrayed

Buyers agent Paul Mulligan knows ‘hundreds of stories’ of people being ripped off in the housing market as a result of agents underquoting on price guides
Buyers agent Paul Mulligan knows ‘hundreds of stories’ of people being ripped off in the housing market as a result of agents underquoting on price guides Photograph: Jessica Hromas/The Guardian

When Sarah* (not her real name) stumbled upon her dream two-bedroom apartment in the eastern Sydney suburb of Edgecliff, she was hopeful she’d finally found something within her budget.

But at the inspection, the real estate agent immediately asked if she could stretch her price range. “They said it was listed for $1.1m because they wanted $1.2m, $1.3m,” she said.

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