Here are some examples of Real Estate agents telling vendors that there properties are hard to sell and times are slow so you will lose money.

Lot 32 In a Carrara townhouse complex on the Gold Coast, 3 Bedroom, LUG, ensuite and air conditioned that is 10 minutes to the Beach, and 2 minutes to the Highway and shops.

Bought in 1998 for $149,900. The Valuer Eccleston Fraser valued these properties at $147,000 for Mortgagee Purposes for a Gold Coast City Councillor and local Solicitor.

Sold in 2002 for $98,000 which I assume was a bad time to sell according to the real estate Agent..

Sold in 2003 for $200,000 which I assume was a great time to sell.

Now I was taken to court by the ACCC for quoting growth figures of 7% per annum, and although the average growth figures were actually higher than this we lost on that one point because we did not defend it, but it was later won on appeal by one of the parties.

The sale price acheived in 2003 was not far off 7% growth, yet the local Real Estate agent that sold this property for the purchaser, and then resold this property the following year wants us to accept that 204% in a year is realistic.

It might be just me but I beleive that the property was probably worth closer to $200,000 in 2002 than the real estate would have us beleive. This exact same thing has happened to me and I lost about $200,000 in the deal because I beleived the Real Estate agent Heather Fillipini who sold the property to her Daughter, using the daughters married name.

There are many more examples of this.