underquoting at it best, page-7

im talking about advertised prices not a reflection of what properties are settling for in an area

it doesnt matter if it is under or over, either way people have a different expectation to what the property will eventually sell for

by under quoting you bring a whole bunch of people to the auction who have no hope of buying

by over quoting, which is rampant in Redland bay QLD people get the impression the suburb is unaffordable scaring buyers away