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Using the story as above if it was advertised 550k+ and I thought FMV was 575k I would probably offer 530k-540k and move up. However if it was 450k and FMV was 575k I wouldn't offer less than asking price as it would ruin any goodwill in the transaction. So I would start over the 450k and...

Maybe they should do more research.. Even on this forum we have people that complain about the agent putting the advertisied price to high (they wanted it lower) and the other way around. I would be more pissed off if the agent put the price of 550k+ and no one turned up and later selling...

1. How long ago did the place sell for 2.2M there has to be a reason the place sold for 600k more which it only had a butlers pantry but lacked pool/spa, backyard and garage. If yours had all the above but lacked butlers pantry well yours should be worth over 2.2M but you are struggling to...

Cause this happens... http://somersoft.com/forums/showthread.php?t=108492 extract: Before the auction the opens were disappointing, much less people than after. And I think it's because he was giving a price guide of well too much (800,000) so they thought it would go in auction for...

http://www.realestate.com.au/property-house-vic-watsonia-119490679 This was quoted 460-500k, without even researching (as I live around the corner) I knew it would sell in the mid 500s. Reason being http://www.realestate.com.au/property-house-vic-watsonia-115011551 sold for 537k in Nov...

Cant be underquoting if the reserve is 1.3M.. Supply and demand. If I decide to sell my house with a reserve of $1 I can guratee you it will sell for ALOT more than my initial reserve. Would that mean I underquoted it? As theoricatlly it could sell for $1, not my fault buyers saw better...

More DD is required then or the vendors have unrealistic expectations which an agent can help assist but you can only lead a horse to water. Remember this agent gets nothing until it sold, he wants to sell it as hard as he can to you if it is reasonable.

I actually quite prefer auction, as you can see what other buyers are interested and how much they are bidding. Private sale you blind to what other interest is there. Both have their own positive and negatives.