Price remains one of the most sensitive topics in real estate, but a recent sale in Runaway Bay has shown that when handled correctly, transparency can lead to powerful results.
An original walk-up apartment at 3/12-18 Bayview Street was set to go under the hammer in May. As Queensland law prohibits providing a price guide for auction properties, Fisher Estate Agents instead supplied all interested buyers with a detailed market activity report, including recent building and area sales.
When a pre-auction offer of $650,000 came in, Fisher Estate Agents director Ben Fisher advised the seller to proceed with the campaign. Why? Because a stronger result looked likely - and transparency would be the key.
“We provided buyers with clear, relevant, and timely data,” said Fisher. “That gave them confidence in the property's value and showed that the seller was serious. It worked in our favour - another buyer saw $699,000 as fair value and was prepared to act.”
With that anchor in place, all buyers (including the original offeror) were given 48 hours to act before the auction would be cancelled and the home sold.
“Everyone knew where they stood - and they appreciated that,” Fisher said. “We ended up securing what would have been the reserve. It was a highly successful result driven by clarity and trust.”
What the Data Says
According to a Property Seeker survey by REA Group (owner of realestate.com.au), 72% of buyers say they skip over listings without a price. And with over 6,000 Australians surveyed, the top complaint remains the lack of price transparency in real estate.
“Consumers increasingly want openness, especially on price,” said REA’s Chief Product and Audience Officer, Melina Cruickshank.
“Budgets are tight, emotions run high, and people want certainty early in the process. Agents who lead with transparency are often the ones winning the next listing.”
A Process Built on Evidence
As a data-driven auction agency, Fisher Estate Agents provides detailed, relevant market reports for every listing.
“We have shared sales evidence for over 8 years because the market clearly values transparency,” said Fisher. “It shortens campaign timelines, improves buyer engagement, and leads to smoother, stronger sales outcomes.”
The Legal Limits (and Why They Exist)
Despite the benefits, Queensland legislation currently prohibits quoting a price guide for auction properties - a rule designed to avoid misleading buyers or creating artificial price anchors.
REIA President Leanne Pilkington explains:
“The law protects buyers from being misled, especially if final prices exceed early expectations. In volatile markets or with unique homes, it is difficult to set an exact figure - emotional buyers may value a home very differently.”
Still, the underlying message is clear: buyers reward transparency. And sellers who align with agencies that embrace it - even within the rules - stand to benefit.
