RealAs Report: Pilcher Residential NSW & VIC most accurate agency
Real estate agents which accurately quote home prices should be applauded for their honesty and ethical behaviour.
There are unscrupulous real estate agents which intentionally bait home buyers with unrealistic price quotes to create an artificial sense of demand for homes.
Underquoting is a grubby and misleading marketing tactic used by some real estate agents and it’s a fraud on home buyers which wastes their time, money and causes heartache.
Real estate industry awards centre on vendor outcomes: dollar volumes, number of properties sold, average sale price and agent commissions.
Whereas, home buyers’ priorities are to find a home in a timely manner, within a budget and stress free.
The result of this kind of grubby and misleading real estate agent behaviour can:
- cause home buyers to pay more than they budgeted,
- put extra pressure on genuine bidders for a home with larger crowds turning up to auctions for a potential bargain
- more often than not, home buyers are left frustrated having emotionally committed themselves to a particular house that was never really in their price range to begin with
realAs.com – a web site by buyers and for buyers – announces a new leader board of the most accurate real estate agencies in Victoria and New South Wales.
This represents a positive step for home buyers and the real estate industry for increased transparency of data.
Whether people are buying or selling a home, there is a high level of faith placed in the real estate agent to accurately communicate price information. realAs.com raises the bar, publicly, so that real estate agents are exposed to a new level of scrutiny. Accurate real estate agents now have a quantitative measure to differentiate themselves from their competitors within the industry.
Over time, home buyers and sellers will look to realAs.com to assess the credibility of real estate industry participants, in much the same way that tourists use TripAdvisor to choose an appropriate restaurant based on quantitative and qualitative variables that matter to them (such as price, service quality, location, etc).
Here are the Top 10 most accurate real estate agencies for Victoria and New South Wales, plus the corresponding realAs.com prediction accuracy – some real estate agencies were more accurate than realAs.com !
realAs.com aims to improve the availability of real estate information for home buyers to reduce the time they spend finding their next home.
| NSW | AUCTIONS | Sold Price vs Agent Quote |
Sold Price vs realAs.com |
| 1 | Pilcher Residential | 5.8% | 7.3% |
| 2 | McGrath – Newcastle City | 7.1% | 4.7% |
| 3 | Raine & Horne – Charmhaven | 7.2% | 4.8% |
| 4 | McGrath – Warners Bay | 7.7% | 6.5% |
| 5 | Cobden & Hayson | 8.9% | 3.7% |
| 6 | PRDnationwide – Newcastle & Lake Macquarie | 9.0% | 4.8% |
| 7 | McGrath – Ballina | 9.9% | 5.5% |
| 8 | McGrath – Sylvania | 10.8% | 8.8% |
| 9 | Belle Property – Glebe | 11.5% | 5.2% |
| 10 | LJ Hooker – Pyrmont | 10.7% | 3.1% |
| Source: realAs.com March 2015 |
| VIC | AUCTIONS | Sold Price vs Agent Quote |
Sold Price vs realAs.com |
| 1 | E J Love Real Estate – Epping | 7.5% | 10.7% |
| 2 | YPA Estate Agents – Craigieburn | 10.3% | 7.7% |
| 3 | Ray White – Craigieburn | 10.6% | 14.6% |
| 4 | Rendina Real Estate – Kensington | 10.6% | 14.6% |
| 5 | Walshe & Whitelock Pty Ltd – Brunswick | 10.9% | 8.1% |
| 6 | hockingstuart Frankston Pty Ltd | 10.9% | 5.0% |
| 7 | Greg Hocking Elly Partners – Williamstown | 11.0% | 6.5% |
| 8 | Moonee Valley Real Estate | 11.1% | 6.0% |
| 9 | Greg Hocking Holdsworth – Albert Park | 11.3% | 3.0% |
| 10 | Sweeney Estate Agents – Point Cook & Altona | 11.5% | 5.0% |
| Source: realAs.com March 2015 |
With respect to the survey:
- it is for auctions in March 2015
- from Victoria and New South Wales
- only real estate agencies with 4 or more publicly available quotes and auction results were included
- the “Sold Price vs Agent Quote” is the average percentage difference between the sold price and the public agency quote
- the “Sold Price vs realAs.com” is the average percentage difference between the sold price and the realAs.com prediction\
https://realas.com/blog/accurate-real-estate-agents-revealed/
