Why is the ‘quoted range’ changing?

We have observed an increase in properties where the initial quoted price starts significantly below the property's actual value. As the marketing campaign progresses, the price gradually increases, ultimately selling for an amount well above the original price. Agents are struggling to confidently assess property values due to significant and seemingly inexplicable discrepancies in results. This uncertainty has made them hesitant. As a result, they initially set lower prices to attract potential buyers and then increase the prices once they feel more confident about market expectations. Below are three recent examples.

We chatted to Chris Gray who has presented over 400 live TV shows and interviewed some of the best property experts in the country and with a depth of experience dating back to the 2000’s. Chris has overseen the purchase of hundreds and hundreds of homes and investments. Here’s his thoughts on weighing up whether a buyer’s agent is right for you.