Members of the public are questioning if homes selling considerably higher than the asking price constitutes ‘bait pricing.’

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Addressing this on Perth Today, Owen Kelly from Consumer Protection explained to host Simon Beaumont that WA rules prohibit misleading people about a property’s actual price.

“Buyers want to be able to go to something and actually have a genuine chance of buying something at the price that is advertised as,” he said.

REIWA President Suzanne Browne told Simon she has not heard of agents intentionally under quoting.

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She added that it wouldn’t be beneficial in the current market.

“Agents are really struggling to keep up with the amount of buyer enquiries so why you would want to generate even more,” she said.

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