McGrath loses fortunes for investors and sits with a grin, page-8

Over quoting? Would be just as axiomatic as underquoting. What counts is the price achieved with the fall of the hammer on auction day. The agent quotes within a 10% range of the stated figure that appears on his "authority to sell" ( at least that's the rule in NSW ). He should be able to provide (verbally or via a written hand out).. at an OFI, a minimum of 3 comparable sales within the same precinct of the marketed property, to prospective purchasers. Nothing too difficult, yet alone... grubby, in that scenario. Sure, there are a small minority of inexperienced, or dodgy agents who don't always follow the rules, as there are doctors who don't cure all their patients, and lawyers who don't win all their cases. Selling residential real estate is an emotional business, but its not fairyland either.