A waste of time and money

Q I saw a property advertised in December for a price guide of $1.5 million. Recently, that changed to ”genuine offers above $1.2 million will be considered”.

When I inquired with the agent, he said the vendor still expected about $1.4 million. Is this kind of marketing allowed?

Edmund, Surry Hills

A At first glance, this looks like a pretty clear case of underquoting. At second glance, though, it is more likely a case of an agent trying to deal with an unrealistic vendor in a stagnant market.

The tip-off is the use of the words ”offers above $1.2 million will be considered”. Translation: ”Such offers will not be accepted but would be appreciated to show the vendor his $1.4 million aspirations are never going to happen.”

Either way, the agent – and vendor – are wasting your time and their marketing dollars. Do everyone a favour and call NSW Fair Trading (13 32 20).

They’ll look at whether this is a case of false and misleading conduct by the agent and perhaps add it to the 100-odd licence cancellations and restrictions imposed in the past year.

Send your questions to Lucy at macken.lucy@gmail.com.