PHOTO: REIQ CEO Antonia Mercorella. FILE
🚨 ‘Great Australian Scam?’ Majority of Brisbane Homes Listed With ZERO Price Transparency – Buyers Furious 🏠💸
🏡 The Hidden Crisis: 63% of Brisbane Homes Have No Price Guide
Brisbane homebuyers are over it — and honestly, who can blame them?
New analysis reveals a staggering 63% of three and four-bedroom homes in Brisbane are being listed with no price guidance at all. Instead, buyers are met with vague phrases like “contact agent”, “submit offers”, or “for sale” — offering zero clarity in one of the biggest financial decisions of their lives.
Meanwhile, other Aussie states are tightening the screws on underquoting…
👉 But Queensland? Still the wild west.
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📉 First-Home Buyers Left Completely in the Dark
Even one-bedroom units — once the entry point for hopeful first-timers — are now being pushed to auction without a guide, keeping Queensland the only state that allows this.
With prices surging, even bargain-basement apartments are getting snapped up for hundreds of thousands more than they were just months ago.
Two-bedroom units? Hitting $1m, and attracting hundreds to open homes.
Buyers are understandably fuming.
One frustrated buyer revealed they’d made 10 failed offers, each time the property selling for $50k–$150k above what agents quietly suggested. The sentiment online is brutal:
“How can they be this far off the mark? It’s like they lowball the guide just to whip up a bidding frenzy.”
🔍 Compare the Market’s Verdict: “Enough is Enough”
Property commentator Andrew Winter didn’t mince words.
He says the lack of transparency is blocking buyers from taking advantage of the newly expanded first-homebuyer incentives — because they can’t even tell if a listing is eligible.
“The lack of pricing transparency is what’s wrong with modern real estate. Buyers are literally shopping blind,” Winter says.
He describes the current situation as trying to buy a car with no price tag until you’re standing in the showroom.
🧩 Why Sellers Are Missing Out Too
You’d think secrecy benefits sellers, right?
Not according to Winter.
He argues vague pricing can actually turn serious buyers away — or stop high-value offers from coming in early.
Confidence is collapsing on both sides of the deal.
This house at 37 City View Rd, Sinnamon Park, is advertised for sale without a price or price guide.
🧠 Veteran Agent John McGrath: “Price Guides Work”
Industry legend John McGrath is firmly in the pro-guide camp.
He says price guides answer the first question every buyer has, meaning:
✔️ More qualified buyers at open homes
✔️ Less confusion
✔️ Faster sales
Pretty simple equation.
🛡️ REIQ Stands Firm: “The Laws Are Fine As-Is”
REIQ boss Antonia Mercorella says Queensland won’t be following Victoria or NSW — both of which are cracking down hard on underquoting with fines up to $110,000.
She claims
➡️ QLD’s auction system already prevents underquoting
➡️ Sellers should retain full freedom in their marketing
➡️ Price guides don’t magically stop price manipulation
And she’s right about one thing:
Only one underquoting complaint was lodged in QLD this year.
🔧 Agents Are Split — Some Say Price Guides Make Things Worse
Ray White principal Avi Khan says the absence of price guides makes auctions more transparent.
His take?
Agents in other states “play God” with price predictions they can’t possibly know.
“The only correct price is the one the buyer pays,” he argues.
If true, Queensland might be leading the way — not falling behind.
🌀 Market Chaos Is Fueling Agent Uncertainty
On the flip side, buyer’s agent Lisa Evans says agents themselves are guessing wildly because Brisbane’s market is changing daily.
She claims agents are asking her what they should use as an auction reserve.
That’s how unpredictable things have become.
🧨 The Bottom Line
Brisbane’s market is heating up, but clarity is cooling down.
Whether Queensland is protecting buyers — or leaving them in the dark — depends on who you ask.
But one thing’s for sure:
🔥 This “Great Australian Scam” debate isn’t going away.
Buyers want answers.
Sellers want certainty.
And agents?
They’re stuck somewhere in the middle, dodging accusations and market madness.
SOURCE: REALESTATE.COM.AU