Wrong SOLD prices

[Jacque]

A word of warning for those of you who rely solely on the "sold properties" data from real estate agent specific sites. They are not always correct, and shouldn't be relied upon when using comparable sales to back up an offer.
I've come across many anomalies now, and have noticed a disturbing trend amongst particular real estate agent sites to post a sold price on their website that is higher than the actual result.
When cross checking with RPData, the actual prices are cheaper; no doubt the temptation to make their particular agency look like effective listers too strong for some

If in doubt, ring up the agent (or their opposition!) and you may be surprised at how easily you can discover the genuine sale price.

 

[lizzie]

what do they hope to achieve by posting the wrong prices? doesn't make sense ...

 

[Jacque]

Hi Lizzie

It makes them look like they're obtaining prices closer to asking price than other agents. To give you an example, one agency had a sold price of $20K more on their site than the actual result. They also tend to selectively advertise and only put their very best outcomes on their websites. The props that hung around for mths and achieved less than desirable prices, funnily enough, don't seem to "make it" to the lists.