Do real estate agents have to give a price guide?

Do agents have to provide a price guide?

In NSW, an agent has the option not to provide a price guide at all, while in Victoria, agents will be required to provide an indicative selling price.

Do real estate agents have to disclose sale price?

After a sale, real estate agents don’t have to disclose the price, how the property was sold, or the number of bidders — and vendors can also ask for prices to not be disclosed.

How do I find real estate price guides?

You can contact Consumer Affairs Victoria on 1300 55 81 81 and NSW Fair Trading on 13 32 20. The price guide provided should be in writing and aligned with the Victoria Housing Authority or New South Wales Fair Trading.

Why do estate agents put guide price?

In the property market, guide price refers to the approximate amount the owner hopes to achieve. … Some estate agents use it as a strategy to encourage potential buyers to view the property. This usually happens if a property has a real selling potential or it is very attractive, which is referred to as a real deal.

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Can you offer below guide price?

Can you offer less than guide price? Yes, you can offer less than the guide price but offering less than the guide price may not be a good idea as you are clearly going below what a seller has stated they may accept. Offering less than the guide price may see your offer rejected.

How do I know if my house is worth the asking price?

5 ways to find out what your house is worth

  1. Enter your address into a home value estimator. …
  2. Ask a real estate agent for a free comparative market analysis. …
  3. Check your county or municipal auditor’s website. …
  4. Identify trends with the FHFA House Price Index calculator. …
  5. Hire a professional appraiser.

How do I keep my house price private?

The three most common ways to hold title to property for enhanced privacy purposes is either through an LLC, a revocable trust or realty trusts, also known as “land trusts” or “nominee trusts.” The main attributes of these structures, often referred to as privacy vehicles, are explained below, but it is important to …

Can you remove sold price from Rightmove?

Can you remove my property from the sold price information? We can remove the description, images and floorplan from a Sold Price record at the home owner’s request.

Why are some sold prices not listed?

There are a number of reasons that transactions are excluded from the dataset; sale of part or a share of a property. sale of right-to-buy properties. transfers following divorce or by way of gift or exchange.

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How accurate are property auction guide prices?

The guide price is an indication of the property’s value at the time of entering the property into an auction, and is given to assist bidders in deciding whether or not to pursue a purchase. … We would normally expect the reserve price to be within a range of approx. + or – 10% of the guide price.

What is price guide in real estate?

The price guide provided in advertisements is based on the estimated result the agent has given to the vendor, which is derived from recent comparable sales. Land size is the most important factor that affects the value of a property.

What is awaiting price guide in real estate?

“Awaiting Price Guide”. … In summary, when an agent lists a property they have to nominate a price search range (i.e. the range in which they want the listing to filter into) as well as an actual asking price (though they can choose not to show this if they want).

Should we offer asking price?

Many people put their first offer in at 5% to 10% below the asking price as a lot of sellers will price their houses above the actual valuation, to make room for negotiations. Don’t go in too low or too high for your opening bid. If you make an offer that’s way below the asking price, you won’t be taken seriously.

How much should I offer on a guide price?

As a guideline, some say it’s best to open with an offer that’s around 10 per cent lower than the asking price. That should be enough to signal genuine interest, while leaving you some wiggle room to keep your final bid as low as possible.

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Should you offer less than the asking price?

Offering 5% to 10% below the asking price

Do ample research so you can argue what the home’s true market value is. Many agents will recommend slightly higher listing prices with the assumption buyers will want to negotiate down, so don’t be afraid to try to snag a deal — especially if the home didn’t sell quickly.