A few clients have asked me about price disclosure in the past week, why some agents disclose prices and others do not. So this week I figured I would write my thoughts on disclosure, if you’re curious about my ideas or have a different view feel free to let me know.
Personally I prefer to disclose prices for every sale. I like full transparency because it looks better to show prices as they are. There are occasions where there may be a divorce or for privacy reasons we are instructed not to disclose but this is rare.
The main benefit of disclosing is we’re putting forward a positive projection and helping our buyers and vendors understand the current market better. If we can achieve strong prices then obviously we want to show pride in our results and announce them to the market.
If the price is not disclosed it’s generally because the agents representing the sale are not proud of the results achieved. That’s not to say these agents can’t get listings – in fact they’ll often have a transactional model to sell properties quickly regardless of price and move onto the next listing based on their perceived success due to churn volume.
Regardless of whether prices are disclosed by agents following a sale, once the property settles land titles are transferred through the Valuer-General and prices are publicly listed. They’ll then usually flow into real estate websites and become visible to the world. This is typically at least six weeks after the property exchanges, sometimes as long as six months. Therefore a lot of the realestate news in the media lags, as real time prices for a lot of sales is not available for a month and a half or longer.