When you clear out the cupboard of rubbish at the weekend and stick a couple of items on Trade me you cannot help but tell your friends about the fun of the auction and the astounding price you got when someone got carried away online and bought that old skateboard.
However do any of us share the selling price of our house with our friends and colleagues?
It strikes me we consider property in the same basket as salary and Lotto winnings – we do not want to share this information – why is that?
Is it the scale of the financial transaction or is it the statement it makes about our approach to material things?
This subject was brought to my attention over the weekend when a friend of mine shared with me their frustration and annoyance that a local agent who had sold them the house used the image of the property and the price they paid in an advert showcasing the agent’s skills and capability in selling real estate.
The price paid for property is available in public record through title information and in paid for reports from Zoodle and QV. However many real estate agents are sharing local sales information with clients in a more open fashion these days. This information is being used in a more public arena (press adverts / leaflets / opne home information) where in the past it would have been restricted to one-on-one meetings with prospective vendors who seek to have an agent provide an appraisal for a property.
In other countries the sale price is far more public. Take the US for example – Zillow provides an incredibly rich experience for real estate searching – take this single family home for example for sale in Cary, North Carolina. Not only does it show the asking price, it has the price it last sold for, a recent market valuation and also the owners estimated valuation based on recent enhancements. All the information is free of charge.
So I would be interested to hear your thoughts and comments on this issue which I am sure will have as many supporters as detractors!