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Are Real Estate Agents shonky where you are as well?

There is this idiocy in Australia where properties are now, "Priced From"
What does that even mean?
Priced from $649,000, Priced from $539,000
My understanding is when Priced From is used that is the minimum price.
Such as when Cafes advertise; Coffee, Priced from $4. Small coffee will be $4, anything larger will be dearer.
So how does this apply to a house, "Priced From". How would a house priced in such a way be more expensive?
nowic2 · 56-60, M
Priced from is the minimum price the buyer will accept. In a competitive market they may be able to get more. Similarly to price from, properties are often advertised in the range the real estate agent thinks can be wrung out of the market, eg $500,000 - $545,000. They have to be careful about pricing too high so they don't put potential buyers off & the property not selling. They don't like loosing sales (& commission)
Gusman · 56-60, MVIP
[@333141,nowic2] So if a buyer offers the asking price, the Estate Agent may wait a while before accepting?
In the hopes someone else is interested and offers a higher price?
If I was to be the first to offer the asking price and the Agent delayed, then I would say, sorry, you just lost a sale.
nowic2 · 56-60, M
[@546016,Gusman] Ultimately, of course it's up to the seller but often they will be guided by the agent. If the price is low your scenario may well be the case. And sometimes they will lose that potential offer, sometimes the offer from will rise. Or it could be sat on for a short time in the hope a better offer arises. This is more likely to happen in a competitive market. When the market is flat sellers are more likely to take what they can get. As a seller, I have rejected an offer. The property was advertised as : From $400,000, I rejected an offer of $390,000 & accepted a subsequent offer of $400,000. It's can be a very complicated process & some agents seem to love making it more so. Through friends I have heard of some good ones but definitely more questionable ones. The worst for both buyer & seller are the pushy ones who seem more interested in a sale that being really interested in their client.
EugenieLaBorgia · 31-35, F
Real estate agents are probably the biggest crooks of all!! Their ridiculous pricing of houses is an embarrassment!
Gusman · 56-60, MVIP
[@669203,EugenieLaBorgia] That is the truth. They actually set the prices of properties and call it "Market Forces".
Crap, the higher the price they set, the higher their commission.
Frauds, the lot of them.
EugenieLaBorgia · 31-35, F
[@546016,Gusman] Exactly!! It's the same, too, with letting prices of hoses and apartments - and they wonder why some people are homeless or have to commute to their jobs from other areas. There are firemen, law enforcement officers and lecturers that I know who simply cannot afford the ridiculous prices in the area where they work!
Blocks of land vary on size and location.. end of a cul de sac.
Near a reserve.. but yes. They’re shonky fuckers at best
Gusman · 56-60, MVIP
[@327405,theoneyouwerewarnedabout] If the House price displayed is $539,000 what has Priced From got to do with it?
Surely the price is $539,000.
Or does it mean
+,+,+,+
[@546016,Gusman] wasn’t under auction? 🤔
Gusman · 56-60, MVIP
[@327405,theoneyouwerewarnedabout] No, not an auction lot.
Most Estate Agent use this pricing display method now.
I sent an e mail to an Estate Agent asking what the fuck?

 
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