An estate agent shows a family a lovely house

You’ve heard it. Repeatedly doing the same thing expecting a different result will get you carted off.

Then how do you explain now, when no matter what anyone does, everything is different.

How do you explain agents stirring the pot of confusion when they’re so confused that they don’t get that they’re the ones they’re hurting the most.

 

88 St Vincent Place North
88 St Vincent Place North

88 St V’s Place. A shocking $11.2m.

Shocking? No. Only compared to a whole handful of promises. It was right in line with expected.

 

11 Linlithgow Road, Toorak, Vic 3142
Spooked?

11 Linlithgow Road. Hung out to dry weeks and weeks after its closing date — like so many of its neighbours which have experienced The Curse Of Lin Rd. 

39 Irving Road, Toorak, Vic 3142
All gone to bed?

The lights going out at 39 Irving Road? That’ll be because everyone’s exhausted and gone to bed. A sale after being on and off the market over 24 very long months. Over $30m! (And under the hoped-for $37m!)

Still , not a bad return on the $3.75m it cost 25ish years ago. Outstripped inflation. Nice little capital gain.

2 Kent Court, Toorak, Vic 3142
Sensible

And then just when you think it’s terminal stupid, something sensible happens.

2 Kent Court.

Litmus land. $6.35m, $11k/sq m. But only two bidders?

Is that a bell ringing?

There are agents who think so. Game over for this year. Vendors’ cues put back in their racks.

There are vendors who think not. That there are still heights to be scaled pre-Christmas. Play on.

Sell in March?

Or February. Some agents are getting listings already.

But it’s only November.

We know. We know.

Grubby, grubby, grubby

It’s Tut, Tut, Tut, time at Consumer Affairs.

Six out of ten agents audited by CAV came up as underquoters.

Facing massive fines.

As much as $10,000 for a transaction when they’ve only scored a $100,000 fee.

“It’s just the cost of doing business.”

And ruining it for everyone.

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