This property was sold for $1.168 million. The price guide quoted by the selling agent was 800-900k.
What accounts for this variance? Depends on which scenario you subscribe to:
- Intense competition drove the property price significantly higher than expected.
- Agent was not local and therefore provided an inaccurate price guide.
- Agent was deliberately underquoting to attract interest.
About Oliver Stier
Oliver J. Stier is the Director of OH Property Group, a leading Sydney buyers agency. He studied Quantitative Economics and Finance at Cambridge University (UK), University of Toronto (Canada) and Princeton University (USA). In addition to being a licensed real estate agent, Oliver also holds the Chartered Financial Analyst (CFA) designation.