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Astute investors can pick quite quickly when a property is being under quoted by doing their DD and comparative sales research. The Vendor is only concerned with getting the best possible outcome for themselves. Under quoting seems to bolster numbers of prospective buyers, and REA's hope that...

This seems way too logical for the Property Market. I agree that Vendors expectations at times are too high. This may be a result of emotional attachment, especially, if property is their PPOR.

Sorry BayView don't agree. The vendor should have the opportunity to sell by any means that they choose. If it is by auction, so be it. What might make it fairer is the vendor disclosing the "Reserve" 3 days prior to auction. That way if it reaches reserve or exceeds it they win. In this...