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Home » Business And Finance Articles » Why Are House Prices Still Being Misquoted Part One

Why Are House Prices Still Being Misquoted - (Part One)

I have been trying to buy a house now for six months and I am at the point of 'throwing in the towel'. You real estate agents are winning. I have invested so much time and money into my search for a home in my price range only to watch the properties I hoped to buy to sell for far more. I cannot afford a house at the price I have budgeted.

For some reason when I go online or telephone for the price of a property, which looks just perfect, I never seem to find out the TRUE price of the property. I have been to so many auctions only to find that the property I was quoted at $436.000 is passed in at $509,000, or even more unsettling, is sold to the highest bidder for sometimes up to 70% more than the quoted price. Would someone please tell me why this is so?

This had me searching very seriously and I came up with two sites with which I felt quite comfortable. Hockingstuart.com.au has a privacy statement on their online website, which explains that they will 'comply with Local, State or Federal legislation or regulations with respect to Real Estate property sales, rental, and administration.' This made me look further and OzFreeOnline.com has a Real Estate Forum where I found some great information from other homebuyers like me. The real estate pages have thousands of ads and all you need do is register, login and search until you find the property you want to buy anywhere in Australia. Furthermore, you can advertise your own property in their pages free.

I have heard it said by many leading real estate agents that the frustration of homebuyers with regards to misquoted auction prices is causing concern and damaging the industry's reputation. That may be so, but where does it leave the obstructed homebuyer? Unfortunately, many agents continue to defy the Victorian State Government's auction laws, selling properties for far above their advertised prices. Personally, I have had properties underestimated at 20% to 26%, only to find that by the day of auction the starting price was the advertised price and sold well over the underestimated price by 50% to 70%.

One auction I felt very confident about, after having talked to the agent on three separate occasions, had me standing open mouthed, as the property priced at $375,000 sold for $575,500.

And here is another random article you might be interested in...

Organisation - Getting Back To Basics

If you look at any major organisation, there is this trend for executives to use "palm pilots" in conjunction with software schedulers such as Microsoft Outlook.

What's really interesting is even with all this technology (and many of these execs are fortunate to have personal assistants) they are still disorganised. Organisation is not about having all the latest and greatest tools, it's about using common sense and sticking to what works. For some reason many people think that by using these (expensive) tools they will automatically manage their time and be more productive. Sadly, this is not the case. Technology is an aid, a tool. It has to be used and adapted to suit the human being using it.

In most cases a paper diary or planner has proved more valuable in helping people to be more effective with their time and their work.

In one organisation where I had been working with the Head of Department, who was much better organised when he was shown how to use a paper diary rather than the computer one, I had the Manager of Information Technology say to me "what are you doing? You'll have them all back to using pen and paper!"

Terrible, isn't it? To think the use of good ole pen to paper to write down your thoughts and ideas, things to do and follow-ups may actually work better than the use of a computer software programme!

Some of my clients have had to use the software in conjunction with their diary, which can easily be done when they are shown how.

I often find that some of the most 'high tech' people are the most disorganised, particularly if the technology breaks down.

At least with pen and paper, the only thing that lets you down is when the pen runs out of ink. If your organisation is adamant that you must use the electronic system so that other people know when you are available, then use it for that purpose. However if it isn't helping you get organised effectively, consider utilising a paper diary as well so that you can stay in control.

Don't be afraid to get back to basics if you find it all becomes too much.

Lorraine Pirihi