Buying a house during a housing crisis is already extremely difficult, time consuming and expensive.
Now imagine, you’ve worked out your budget, got pre-approval for a loan and you’ve found your dream house listed online, within your price range.
Only, when you turn up to the auction, you’re priced out of the place before bidding even begins.
Currently real estate agents aren’t required to set the reserve price at auctions (the minimum amount for which the house will be sold) within the price range for the house advertised online.
Advertised housing prices should match the reserve price on the day of the auction.
Lets stop real estate agents from wasting everyone’s time by underquoting online to lure people out to un-affordable properties.
Buying a house during the housing crisis we’re in is already extremely difficult, time consuming and expensive.
Now imagine, you’ve worked out your budget, got pre-approval for a loan and you’ve found your dream house listed online, within your price range.
Only, when you turn up to the auction, you’re priced out of the place before bidding even begins.
Advertised housing prices should match the reserve price on the day of the auction.
Lets stop real estate agents from wasting everyone’s time by underquoting online to lure people out to un-affordable properties.
Posted by Aiv Puglielli – Greens MP for North-East Metro on Sunday, April 6, 2025
Leave a Reply