Why there are calls for reserve prices to be published prior to auction
There’s a push for the publishing of reserve prices for auctions to become mandatory in Victoria.
And it’s claimed it will help both buyers and sellers.
Rosemary Jamonts, Real estate agent and Director of Raine & Horne Williamstown, said it had been their policy to publish reserve prices for the past six years.
“We’ve been doing that in most cases, prior to auction, for almost six years,” she said on 3AW.
She said not only was it “transparent” and honest, it also created a realistic market and saved everybody involved time.
She rejected suggestions it ruined competition for property.
Press PLAY below to hear her make the case!
Picture by Getty iStock