Connect with us

Opinion Editorials

The end of the listing price- Aussie style



$625,000, 3 bedroom, 2 bath, parking, deck, fireplace, hardwood floors. What do see that is important here? The price or the features? If you are the buyer, the first thing is probably the price. Everyone loves prices, right?

But, in reality, what you are looking for is not the price, it’s the features of the house you are going to move into. You don’t move into a price. Right?

So, why should a house have a price? Why shouldn’t you just look at a property that you want to live in and have a real estate agent run comps and make your bid?

In Australia, they don’t have listing prices. They don’t even have a true marketing period. All they do is set a date for an auction. You see the home beforehand at an open and then decide.

This way, the Seller knows what day they are going to sell and when the closing approximately is. Pretty cool.

So, the idiot agent that gets their listings by overpricing them and then telling the sellers that the market has changed would be dead in the water with the Aussie method or what the idea of not having a listing price.

How would it all work?

You would do a search for the area that you want, the number of bedrooms, baths, features, etc. Then you can have your agent do the work of seeing what has sold in the last few months for that type of home.

Then go see the homes and place a bid based on the comps. Yes, I said, submit an agreement WITH the comps so that there can’t be any ridiculous arguments unless you put in a stupid offer or the seller and/or their agent is a lunatic.

Then, the seller knows what a buyer is willing to pay for their home. The listing agent then has an easier job of not having to have THE conversation.

What do you think? Yes, it’s a work in progress.

Realty Reality! That describes Fred, a sharp witted and outspoken realist for the mortgage and real estate world who has appeared on CNBC and NPR's Marketplace along with being quoted in the New York Times, The Wall Street Journal and other media outlets. Fred is the CEO of U S Spaces, Inc/Arrivva (a real estate brokerage firm in PA, NJ, DE and CA) and U S Loans Mortgage Inc (mortgage brokerage in PA, CA, FL and VA), and serves on the Board of Directors and is the Federal Legislative Director for the UpFront Mortgage Brokers. Fred is also the co-creator of real estate startup, a mathematically driven rental search engine. See everything Fred at

Continue Reading



    December 7, 2010 at 9:27 am

    Honestly Fred, this is just ridiculous… Price needs to be included 🙂

  2. Russ Bergeron

    December 7, 2010 at 10:16 am

    Leave it to the folks down under. They brought us range pricing – what’s wrong with no pricing?

  3. John Kalinowski

    December 7, 2010 at 10:32 am

    Seems like a lot of wasted time bidding and making offers, since you have no basis of what the seller expects to receive for their home. They may be thinking $275,000 when you are bidding $175,00 based on your comps. If you know their asking price up-front, you wouldn’t waste your time (or theirs).

  4. Blake Pierson

    December 7, 2010 at 11:28 am

    Fred – you mentioned the selling process in Australia? Are there any other major economies with similar selling processes (or in other words, processes quite different than here in the U.S.)? Just curious what your research turned up. Thanks!

  5. Teral McDowell

    December 7, 2010 at 12:03 pm

    Did someone say it “ridiculous”?!

  6. Agent for Movoto

    December 7, 2010 at 1:13 pm

    It sounds like a great idea. It’s fast, direct, and would minimize a lot of the defensiveness and tension that is so often a part of one stranger handing over a piece of his or her past to another stranger.

    Prices – for anything – are artificial and calculated “estimates” of an item’s worth. In reality, as all of us swimming around in this burst housing bubble know, a thing is only ever worth what a real live person, at a certain moment in linear time, is willing to pay for it.

    And hey, the Aussies seem to be doing okay:

  7. Pasquale`

    December 7, 2010 at 2:38 pm

    Whether the Seller indicates their asking price or not, it’s still an auction – just like the premise of the stock market’s bid & ask system.

  8. Jonathan Benya

    December 7, 2010 at 6:30 pm

    Not bad. It’s a fabulous concept, but I don’t see it working out with the mindset of modern American society.

    I wonder how much further prices would drop with that sort of model in play over here?

    • Kelsey Teel

      December 8, 2010 at 1:32 am

      I have to agree that I don’t see it working out with the mindset of modern American society. A price range is the starting point of most buyer’s searches. Does that mean it is the best approach? Not necessarily, I can see the pros of the Aussie style. However, actually implementing it in America would be chaotic–at least at first.

      Thought provoking article, Fred. Thanks for sharing. 🙂

  9. Fred Glick

    December 8, 2010 at 7:46 am

    Thanks for all the comments.

    I see the reaction has bounced both ways.

    To the naysayers, please re-read the section that says “your agent do the work of seeing what has sold in the last few months.”

    Try it. Search all the sold comps at all prices in an area where a buyer wants a place.

    Also, there are situations that have just occurred in condo buildings in Philadelphia where a building priced their units at say $450,000 but after an auction, the prices went for $300,000. Why? Because they were only worth $300,000.

    Want values to go back up? Help the economy improve!

  10. Sano

    December 8, 2010 at 8:58 am

    Well, I just returned from Australia and poked around some real estate (what Realtor doesn’t do this on his holidays?). What I understood of the process was that the listing Realtor would announce the auction date and the bidding would start with a reserve price that the seller may or may not disclose. If the bidding was successful then the buyer went through their due diligence and this was processed in a typical fashion. If however there were no bids or the bids were too low, then the Selller would place the property on listing with a price range (eg. high 500’s low 600’s). If this did not attract the required interest they typically would reduce the price again, much as we would here. What I found interesting was the lack of disclosure with respect to agency. Listing agents presumed that you would just deal exclusively with them because they were most knowledgable about the property and Buyer representation was secondary or hardly ackowledged at all (at least with those agents that I met).

  11. danschuman

    December 8, 2010 at 4:08 pm

    Interesting idea Fred. I am never opposed to change, in this case drastic change, but I can’t see the US market accepting this method because it’s just too different than what we are used to.


    December 8, 2010 at 6:25 pm

    @sano the way you describe it , it sounds like Ebay for real estate! which may not be far from the truth down under.

    i have friends in syndey and i have visited several times. your statement about buyer representation is for the most part true. the idea of agent co-op doesn’t really exist there.

    i wonder how much aussie agent earns in commission on 1 deal?

Leave a Reply

Your email address will not be published. Required fields are marked *

Opinion Editorials

7 ways to carve out me time while working from home

(OPINION / EDITORIAL) It can be easy to forget about self-care when you’re working from home, but it’s critical for your mental health, and your work quality.



Woman in hijab sitting on couch, working from home on a laptop

We are all familiar with the syndrome, getting caught up in work, chores, and taking care of others, and neglecting to take care of ourselves in the meantime. This has always been the case, but now, with more people working from home and a seemingly endless lineup of chores, thanks to the pandemic. There is simply so much to do.

The line is thinly drawn between personal and professional time already, with emails, cell phones, and devices relentlessly reaching out around the clock, pulling at us like zombie arms reaching up from the grave. Working from home makes this tendency to always be “on” worse, as living and working take place in such close proximity. We have to turn it off, though.

Our brains and bodies need down time, me-time, self-care. Carving out this time is one of the kindest and most important things you can do for yourself. If we can begin to honor ourselves like this, the outcome with not only our mental and physical health, but also our productivity at work, will be beneficial. When we make the time to do things we love, our body untenses, our mind’s gears slow down that constant grinding. Burnout behooves nobody.

Our work will also benefit. Healthier, happier, more well rested, and well treated minds and bodies can work wonders! Our immune systems also need this, and we need our immune systems to be at their peak performance this intense season.

I wanted to write this article, because I have such a struggle with this in my own life. I need to print it out and put it in my workspace. Last week, I posted something on my social media pages that so many people shared. It is clear we all need these reminders, so I am paying it forward here. The graphic was a quote from Devyn W.

“If you are reading this, release your shoulders away from your ears, unclench your jaw, and drop your tongue from the roof of your mouth.”

There now, isn’t that remarkable? It is a great first step. Let go of the tension in your body, and check out these ways to make yourself some healing me-time.

  1. Set aside strict no-work times. This could be any time of day, but set the times and adhere to them strictly. This may look like taking a full hour for lunch, not checking email after a certain hour, or committing to spending that time outdoors, reading, exercising, or enjoying the company of your loved ones. Make this a daily routine, because we need these boundaries. Every. Single. Day.
  2. Remember not to apologize to anyone for taking this me-time. Mentally and physically you need this, and everyone will be better off if you do. It is nothing to apologize for! Building these work-free hours into your daily schedule will feel more normal as time goes on. This giving of time and space to your joy, health, and even basic human needs is what should be the norm, not the other way around.
  3. Give yourself a device-free hour or two every day, especially before bedtime. The pinging, dinging, and blinging keeps us on edge. Restful sleep is one of the wonderful ways our bodies and brains heal, and putting devices away before bedtime is one of the quick tips for getting better sleep.
  4. Of course, make time for the things you absolutely love. If this is a hot bath, getting a massage, reading books, working out, cooking or eating an extravagant meal, or talking and laughing with a loved one, you have to find a way to get this serotonin boost!
  5. Use the sunshine shortcut. It isn’t a cure-all, but sunlight and Vitamin D are mood boosters. At least when it’s not 107 degrees, like in a Texas summer. But as a general rule, taking in at least a good 10-15 minutes of that sweet, sweet Vitamin D provided by the sun is good for us.
  6. Spend time with animals! Walk your dog, shake that feathery thing at your cat, or snuggle either one. Whatever animals make you smile, spend time with them. If you don’t have pets of your own, you could volunteer to walk them at a local shelter or even watch a cute animal video online. They are shown to reduce stress. Best case scenario is in person if you are able, but thankfully the internet is bursting with adorable animal videos, as a backup.
  7. Give in to a bit of planning or daydreaming about a big future trip. Spending time looking at all the places you will go in the future and even plotting out an itinerary are usually excellent mood-boosters. It’s a bit different in 2020, as most of us aren’t sure when we will be able to go, but even deciding where you want to go when we are free to travel again can put a positive spin on things.

I hope we can all improve our lives while working from home by making time for regenerating, healing, and having fun! Gotta run—the sun is out, and my dog is begging for a walk.

Continue Reading

Opinion Editorials

Why robots freak us out, and what it means for the future of AI

(OPINION / EDITORIAL) Robots and humans have a long way to go before the social divide disappears, but research is giving us insight on how to cross the uncanny valley.



Close of R2D2 toy, an example of robots that we root for, but why?

We hate robots. Ok, wait, back up. We at least think they are more evil than good. Try it yourself – “are robots” in Google nets you evil before good. Megatron has higher SEO than Optimus Prime, and it’s not just because he’s so much cooler. It cuz he evil, cuz. It do be like that.

It’s not even a compliment to call someone robotic; society connotes this to emotionless preprogrammed shells of hideous nothing, empty clankbags that walk and talk and not much else. So, me at a party. Or if you’re a nerd, you’re a robot. (Me at a party once again.)

Let’s start by assuming robots as human-like bipedal machines that are designed with some amount of artificial intelligence, generally designed to fulfill a job to free up humanity from drudgery. All sounds good so far. So why do they creep us out?

There’s a litany of reasons why, best summed up with the concept of the uncanny valley, first coined by roboticist Masahiro Mori (Wow he’s still alive! The robots have not yet won) in 1970. Essentially, we know what a human is and how it looks and behaves against the greater backdrop of life and physics. When this is translated to a synthetic being, we are ok with making a robot look and act like us to a point, where we then notice all the irregularities and differences.

Most of these are minor – unnaturally smooth or rigid movements, light not scattering properly on a surface, eyes that don’t sync up quite right when they blink, and several other tiny details. Lots of theories take over at this point about why this creeps us out. But a blanket way to think about it is that our expectation doesn’t match what we are seeing; the reality we’re presented with is off just enough and this makes us uncomfortable .

Ever stream a show and the audio is a half second off? Makes you really annoyed. Magnify that feeling by a thousand and you’re smack in the middle of the uncanny valley. It’s that unnerving. One possible term for this is abjection, which is what happens the moment before we begin to fear something. Our minds – sensing incompatibility with robots – know this is something else, something other , and faced with no way to categorize this, we crash.

This is why they make good villains in movies – something we don’t understand and given free will and autonomy, potentially imbued with the bias of a creator or capable of forming terrifying conclusions all on its own (humans are a virus). But they also make good heroes, especially if they are cute or funny. Who doesn’t love C3PO? That surprise that they are good delights us. Build in enough appeal to a robot, and we root for them and feel empathy when they are faced with hardships. Do robots dream of electric sheep? Do robots have binary souls? Bits and zeros and ones?

Professor Jaime Banks (Texas Tech University’s College of Media & Communication) spends a lot of time thinking about how we perceive robots. It’s a complex and multifaceted topic that covers anthropomorphism, artificial intelligence, robot roles within society, trust, inherently measuring virtue versus evil, preconceived notions from entertainment, and numerous topics that cover human-robot interactions.

The world is approaching a future where robots may become commonplace; there are already robot bears in Japan working in the healthcare field. Dressing them up with cute faces and smiles may help, but one jerky movement later and we’ve dropped all suspension.

At some point, we have to make peace with the idea that they will be all over the place. Skynet, GLaDOS in Portal, the trope of your evil twin being a robot that your significant will have to shoot in the middle of your fight, that episode of Futurama where everything was a robot and they rose up against their human masters with wargod washing machines and killer greeting cards, the other Futurama episode where they go to a planet full of human hating murderous robots… We’ve all got some good reasons to fear robots and their coded minds.

But as technology advances, it makes sense to have robots take over menial tasks, perform duties for the needy and sick, and otherwise benefit humanity at large. And so the question we face is how to build that relationship now to help us in the future.

There’s a fine line between making them too humanlike versus too mechanical. Pixar solved the issue of unnerving humanoids in their movies by designing them stylistically – we know they are human and accept that the figure would look odd in real life. We can do the same with robots – enough familiarity to develop an appeal, but not enough to erase the divide between humanity and robot. It may just be a question of time and new generations growing up with robots becoming fixtures of everyday life. I’m down for cyborgs too.

Fearing them might not even be bad, as Banks points out: “…a certain amount of fear can be a useful thing. Fear can make us think critically and carefully and be thoughtful about our interactions, and that would likely help us productively engage a world where robots are key players.”

Also, check out Robot Carnival if you get the chance – specifically the Presence episode of the anthology.

Continue Reading

Opinion Editorials

4 simple tips to ease friction with your boss while working remotely

(OPINION / EDITORIAL) Find it challenging to get along with your boss while working from home? Here are a few things you can try to ease the tension.



Woman stressed over laptop in remote work.

Most people probably feel like their relationship with their boss is fine. If you’re encountering friction with your boss for any reason, though, remote work will often exacerbate it—this is one instance where distance doesn’t necessarily make the heart grow fonder. Here are a few ways to remove some of that friction without adding to your boss’ overflowing plate.

According to CNN, determining the problem that exists between you and your boss should be your first step. There’s one caveat to consider, however: Your boss’ boundaries. Problem-solving on your own time is fine, but demanding more of your boss’ time—especially when you’re supposed to be working—may compound the issue.

An easy way around this is a low-impact communique—e.g., an email—sent at the beginning or end of the workday. Since that’s a more passive communication style that takes only a minute or two out of your day, it’s less likely to frustrate your boss further.

If ironing out the issue isn’t your prerogative for now, examining your boss’ parameters for success is another place to start. Does your boss prefer to receive multiple updates throughout the day, or do they want one summative report each morning? Do you respect your boss’ preferred communication styles? These are important questions to ask during remote work. If you find yourself reaching out more than necessary, for example, it may be time to cut back.

It can also be difficult to satiate your boss if you don’t know their expectations. If you’re able to speak to them about the expectations regarding a project or task, do it; clarifying the parameters around your work will always help both of you. It is worth noting that some supervisors may expect that you know your way around some types of responsibilities, though, so err on the side of complementing that knowledge rather than asking for comprehensive instructions.

Finally, keep in mind that some bosses simply don’t communicate the same way you do. I’ve personally been blessed with a bevy of nurturing, enthusiastic supervisors, but we’ve all had superiors who refuse to acknowledge our successes and instead focus on our failures. That can be a really tough mentality to work with during remote periods, but knowing that they have a specific communication style that hampers their sociability can help dampen the effects.

As always, communication is key—even if that means doing it a little bit less than you’d like.

Continue Reading

Our Great Partners

American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!