In essence, it is a list of currently listed properties that have been on the market for over 60 days. The information provided for each property should allow you to get an understanding on how long that property has been on the market, what it was initially advertised for, any subsequent changes to the asking price and what it is selling for now.
In addition, the report will also contain the date and price the property in question last sold for.
Negotiate, Negotiate and Negotiate! This information should give you a good idea on how keen the seller is. But be careful here. This report is just a guide only and there is a chance (albeit minor) the information we have provided might have errors in it.
So you can go straight to the current listing. We strongly advise this to get the very most up-to-date information on the listing
Our records are updated frequently (less than every 10 business days), however changes can happen between updates. The link also has agent details so you can contact the agent for more information on the listing.
For those that have a subscription, YES.
Send us an email to email@example.com
You will need to provide evidence of when you first advertised the property and what the asking price was. You will also need to provide some evidence that you do indeed own or are the current agent of the property. Evidence of subsequent changes to the asking price would be of value as well. It will also be beneficial to send through the current link to the ad.
There are a number of reasons why a particular listing may not be included.
Often it is because the property advertised has not quite been advertised online for 60 days as at the time you purchased the report. Sometimes properties have been withdrawn over 12 months for them to be relisted again recently. In such cases we will not include the time it was withdrawn if it was over 12 months off the market.
Or it could also be that there was a possible error over the listing itself which made our programs err on the side of caution and not publish the record. Properties that do not advertise specific addresses can at times also cause problems. That said, we do capture a high proportion of properties that have no address due to tracking the advertisement id number.
Overall we do have a very good coverage of stale market. From testing we are capturing and publishing between 85%-100% of listings advertised online over sixty days, depending upon the postcode.
This most probably relates to a technical issue with domain and its links provided. We suggest to look up the address manually to investigate it further.
It could also mean the property is no longer advertised under that listing due to it either being withdrawn or now placed with a different agent or a different real estate listing website. Sometimes it may mean it has sold. However properties that have now sold normally take you to an archived property.
As stated we would recommend doing a separate search for the property directly with the listings website.
The property has now been listed under a different agent, sold or withdrawn from the market. If sold, often the archived ad will state it has been sold. We advise contacting the agent to find out what happened or doing a separate search for the property directly with the listings website.
Unfortunately in these two states, purchasing data off the State Valuer General Office is extremely prohibitive (as in the case of WA) and Victoria will not allow one to publish the street address (except of course if you are an agent! We would strongly recommend contacting the Valuer General in each of these two states or you local state parliament member and seek them to make data more transparent and freely available in these states.
Lack of transparency in property information in this country is a big problem. It allows unscrupulous people to take advantage of the situation by employing dodgy strategies such as two-tier marketing.
There are many reasons why a property is not recording a previous sold result. They can include, in order of most likely reason:
The dates we provide first refer to when the property was first advertised. And then subsequent to that, the date at which the vendor changed the advertisement to reflect a new asking price. Sometimes there can be a substantial period of time between the dates as the vendor has stayed stead fast and kept to their last asking price.
Please note that just because there has been some time elapsed between present day and the last date we have a record for, doesn’t mean that the property is off the market. It may mean that the vendor once again is staying steadfast and not moving their asking price.
It is this very reason that we provide a link back to the current advertisement for the property.
This usually indicates that the listing is being advertised in a price range. E.g. it is being offered between $550k-$600k. Check with the current link to its current asking price or check with the agent.
That’s right, it has been troublesome capturing the ranges, but we are working on it. For now, we have chosen the bottom of any range as the asking price. Once again, we strongly recommend checking the current link for such ranges and check with the agent.
While every attempt has been made to eliminate errors, with a national database of millions of records, no doubt some will get through. The errors tend to be ones surrounding developments and multi story apartments. They will generally look quite odd. E.g. $1,000,000 now advertised at $290,000.
If you know of an error, please email us at firstname.lastname@example.org. We will get them fixed or take them out of the records. It is important you provide us with some information/evidence on them.
Please note that if the last advertised price recorded in the report is different to the current linked ad, that is not likely to be an error at all. Moreover it represents that the vendors has changed their asking price since our last data upload.
We are reluctant to do that unless there is an issue over an error in the record. Remember previous ads have been published to the whole world and are legally allowed to be stored. Agents have been accessing this very same type of information for years and we fail to see why consumers can’t have access to it as well.
Sometimes this is due to the vendor switching their agent and lifting the asking price on the hope the new, fresh agent will be up to the task. But yes we have noticed an increase in this behaviour of late.
It seems some vendors believe the market has risen enough to justify lifting their asking price. We struggle to understand the logic of lifting one’s asking price on a property when it was struggling to sell in the first place. Perhaps they think no one will notice? But we have. And now, so have you.
If you would like to contact us by email, please complete and submit the form below:
SQM Research Weekly Residential Newsletter 15 October
SQM Residential Newsletter 8 October 2019
SQM Research Weekly Residential Newsletter 1 October 2019
SQM Research Weekly Residential Newsletter 24 September 2019
SQM Research Ratings Update - September 2019