Have real estate agents changed, or have I? You be the judge.

We bought our first house in 1984. It had previously been owned by the kind of real estate mogul who knew which suburbs were on the move. It came with a needy neighbour, an outside dunny and was right under the flight path, but we loved it. We made our first baby there and then our second.

Image: Marija ErcegovacCredit:

It became clear we needed a laundry, an indoor toilet and, spare me your judgment, a kitchen which had room for both a fridge and a dishwasher. I seriously felt I was more likely to survive without a fridge than without a dishwasher. And that was before number three.

But real estate agents could tell us, more or less, what we should pay for a bigger house in the neighbouring suburb. News in Victoria that an agency is being charged for massive underquoting must act as a warning that all agents should be fair and, more or less, square.

If only warnings worked.

Here’s what I discovered this week. My kids are on the lookout. In fact, I’m friends with an entire generation of parents whose kids are on the lookout, both for their inheritance and the prospect of leaving behind the government-sanctioned malfeasance of renting. Which brings me to this predicament.

A couple of weeks ago, a long-time friend discovered we were planning to downsize. She told me her kid and the kid’s partner were selling their house and could expect to get, according to their local agent, $1.7 million for it. Yes, it’s in one of those newly groovy suburbs, but it’s small and perfectly formed. She sent me the address. Looked great. I’m too old for groovy but whatever.

Imagine my utter lack of surprise when it turned up on your favourite real estate site, with a buyer’s guide of $1.45 million. That’s a quarter of a million dollars less than what the agent guided the sellers. I even wrote to the real estate agent just to check on that buyer’s guide because, you know, glitches happen online. He confirmed $1.45 million as the buyer’s guide. God, you’d love to be issued the seller’s guide as well, right?