A stop to underquoting not an auction
Thursday, June 28th, 2007UNDERQUOTE or undersell?
Results show the current system works fine, write Mark Armstrong and David Johnston.
Frustrating as it may be, underquoting is a necessary evil in Melbourne’s auction system.
Recent media coverage about the widespread practice of underquoting has highlighted the frustration of buyers who miss out when properties sell for much more than the advertised estimate.
Ironically, [...]