Under quoting: When Cheap Isn’t Really Cheap
Let’s talk underquoting. Recently a freestanding home in Clifton Hill (City of Yarra) caught my attention. It was advertised at $1.5 to $1.65 million for over 500 square metres. On the surface it looked like a bargain. (Sold price below….. it will ASTOUND YOU.)
But after a closer look and a call with the selling agent, the truth came out. The property was priced as a knockdown.
The funny thing was, it wasn’t a knockdown at all. The façade lacked the period charm many Clifton Hill homes are known for, but the house was solid, liveable and in far too good a condition to bulldoze. Buyers weren’t showing up for development potential. They were showing up for a rare 500m² block that was move-in ready.
By Monday the guide price jumped slightly, reflecting the stronger-than-expected demand. What was marketed as a “bargain” suddenly shifted to match real buyer interest, or did it?
Turns out it sold for $2.31! Wild. How can the average family looking to buy ever have a chance with underquoting and estimated selling ranges like that?
Why Price Guides Can Mislead Buyers
This is exactly why relying on quoted selling ranges is risky. Price guides are based on comparable sales, yes, but they are also influenced by strategy. An agent will adjust the range as the campaign progresses depending on interest, feedback, and competition.
For buyers, this can mean weeks of emotional investment and due diligence spent on a home they were never truly in the running for.
Without a deep understanding of recent sales, trends, and agent tactics, it’s easy to waste time and energy on properties that were never within reach.
The Advocate Advantage
This is where a buyer’s advocate makes a difference.
I bring more than just local insight. I bring relationships with the very agents running these campaigns. They take my calls. They know my briefs. They give me information my clients would never otherwise access.
With Advocate Agency on your side, you gain:
Real market intel so you know what a property is actually worth.
Strategy to avoid overcommitting on homes that will sell well beyond your budget.
Off-market access to properties in Kew, Hawthorn, Camberwell, Ivanhoe, Alphington, Fairfield, and Northcote that the public never sees.
Experience that keeps you calm, confident, and focused on the right opportunities.
I’ve been where you are. Weekends at opens, heartbreak at auctions, the stress of second-guessing. It’s why I now do this work. To help families like yours avoid the pitfalls, save time, and secure the right home without paying a premium for mistakes.
68 Fenwick Street, Clifton Hil. Originally quoted / Advertised $1.5 - $1.65. It was then adjusted to $1.6 - $1.76
Now, get ready for it... SOLD for $2.31
Buying With Clarity
When you are spending millions on a family home, you cannot afford to rely on guesswork or marketing spin. Having a professional in your corner means you buy with clarity and confidence.
Cheap is not always cheap. The real value lies in knowing what you’re looking at, what you should pay, and when to walk away.
If you’re searching in Melbourne’s inner east or north-east and want the right advice and access from the start, I’d love to help.
📞 0403 027 645
🌐 advocateagency.au
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