Agency sued over house price valuation

Staff Reporter

A Victorian real estate agency is being sued by a client who claims they overvalued her house.

According to a report by the Herald-Sun last week, Pamela Ruth McAlister claims Jonathon Graham of Bekdon Richards Estate Agents told her he believed her property in Glen Iris would sell for between $1 million and $1.1 million.

With this advice in mind, Ms McAlister said she made an offer to buy another house for $1.39 million and entered into an exclusive auction authority agreement with Bekdon Richards.

However, only one offer, of $850,000, was made during the sales campaign and passed in at auction in March on a vendor bid of $850,000.

Ms McAlister later sold her house through another agent for $890,000.

She has launched legal action against Bekdon Richards in Hawthorn and is seeking more than $100,590 in damages, which is made up of costs she claims she incurred, including stamp duty and advertising fees.

Mr Graham told the Herald-Sun “As far as we are concerned we have done nothing wrong”.

In her statement of claim, Ms McAlister said she would not have made an offer on the other house if it had not been for the advice she received.

“The representations were false in that the value of Gardiner Parade was substantially less than $1 to $1.1 million,” the statement said.

The directors of Bekdon Richards Real Estate were unavailable for comment when contacted by Real Estate Business.

Staff Reporter

A Victorian real estate agency is being sued by a client who claims they overvalued her house.

According to a report by the Herald-Sun last week, Pamela Ruth McAlister claims Jonathon Graham of Bekdon Richards Estate Agents told her he believed her property in Glen Iris would sell for between $1 million and $1.1 million.

With this advice in mind, Ms McAlister said she made an offer to buy another house for $1.39 million and entered into an exclusive auction authority agreement with Bekdon Richards.

However, only one offer, of $850,000, was made during the sales campaign and passed in at auction in March on a vendor bid of $850,000.

Ms McAlister later sold her house through another agent for $890,000.

She has launched legal action against Bekdon Richards in Hawthorn and is seeking more than $100,590 in damages, which is made up of costs she claims she incurred, including stamp duty and advertising fees.

Mr Graham told the Herald-Sun “As far as we are concerned we have done nothing wrong”.

In her statement of claim, Ms McAlister said she would not have made an offer on the other house if it had not been for the advice she received.

“The representations were false in that the value of Gardiner Parade was substantially less than $1 to $1.1 million,” the statement said.

The directors of Bekdon Richards Real Estate were unavailable for comment when contacted by Real Estate Business.

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