Real estate agent takes stand against underquoting

Veteran estate agent Tony Brasier wants to set an example when it comes to auction price transparency.

He has listed one of his investment properties, a Beecroft apartment, with an $820,000 disclosed reserve price ahead of its October 11 auction through local agent Nick Bedford.

“I hope this example may be a driver for changing the way residential property is sold in NSW thereby eliminating underquoting,” Brasier said.

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Estate agent Tony Brasier is listing his Beecroft investment apartment with a foreshadowed $820,000 reserve price. Picture: realestate.com.au

Now at his TLB Partnership property consultancy, Brasier is the former chairman of Colliers International and PRD.

“Set peacefully at the back of the block, this full brick apartment displays an outstanding light filled design with generous dimensions for a lifestyle of easy care comfort,” the listing for the two-bed unit at 2/76 Beecroft Road, Beecroft read.

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Inside the unit.

Reserve price disclosed.

Veteran estate agent Tony Brasier wants to set an example when it comes to auction price transparency.

“Immersed in the heart of Beecroft village, it’s barely footsteps to Beecroft Place shops and the station, while in the catchment for esteemed Beecroft Public, Cheltenham Girls’ and Carlingford High School.

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Tony Brasier. Picture: Supplied

Meanwhile, debate flared on LinkedIn this week after the $4,285,000 auction result sale at 55-57 Suttor St, Alexandria.

The four bedroom, three bathroom house had been quoted with an initial $3.5m published price guide which was uplifted to $3.7m.

However buyers only ever got the lower end of the 10 per cent price band set out in the agency agreement.

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The sale of 55-57 Suttor Street, Alexandria, NSW created debate.

BresicWhitney denied any underquoting.

They added they are one of the few agencies that has published price estimates for a decade, along with free building and pest reports.

“We would welcome NSW Fair Trading standardising price representation in NSW, as exists in Victoria,” BresicWhitney advised.

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