Due to change of circumstances, I need to sell a 2-bedroom IP in Melbourne Victoria. I have already engaged an RE agent and a sale by auction at end of this month was recommended. The price range initially quoted by the agent to me was $410K to $450K, but after signing up and following 2 weeks of open inspections, I was pushed by the agent to sign a new authority with a much lower quote : $350K - $390K range with the reason that a competitor agent advertises a 3-bedroom property in the same area with $420K to $450K range and I need to re-sign the authority with that lower quote in order for the agent to advertise the price range( no price range advertised when the sale campaign began) to attract more potential buyers. Thinking that the new price range requoted by the agent is too low when compared with the sales of the similar properties in the same street in recent years, I refuse to re-sign and now I am asked to sign with the one of $390K - $410K range. I would appreciate if some experts here can help to enlighten me as to why the agent is so keen to get the authority re-sign. So far I am still not convinced by the agent as I am concerned I would be forced to sell at the price within the range set by the agent who can then claim the commission but not at the price which I think is reasonable.