Incentives driving underquoting

In this episode, we pull back the curtain on one of the least transparent parts of Australia’s property market: sales campaign behaviour. From hidden campaign histories to shifting price guides and agent tactics designed to manufacture buyer momentum, most buyers are making six- and seven-figure decisions without the information they actually need. Today’s conversation digs into that gap — and the consequences of it.

We’re joined by Henry Pedersen, co-founder and CEO of Homer, a proptech tool built to expose the data buyers never get to see. Henry walks us through what really happens behind the scenes of a sales campaign: failed auctions, withdrawn listings, guide price movements, and the patterns in agent strategy that can completely alter a buyer’s perception of value. We talk about why big data alone isn’t enough, how algorithms misread hyper-specific property nuances, and why more information doesn’t automatically mean better decisions.

We also dive into the thornier realities: the structural incentives pushing agents toward underquoting, why buyers keep falling into the same traps, how state regulators are tightening their approach, and what transparency could actually look like if buyers had access to honest, unfiltered campaign histories. Henry also shares how buyer behaviour — from switching suburbs to chasing “hot” listings — is often influenced by information that’s incomplete or deliberately curated.

Whether you're navigating the market for the first time, returning after a break, or advising clients professionally, this episode gives you tools to understand the battlefield. We help you recognise the signals buried inside campaign data, avoid being blindsided by agent strategy, and get clearer about where your expectations sit in the real market — not the one portrayed online. This is a must-listen for anyone tired of feeling outplayed.

Episode Highlights

00:00 — Introduction to the Hidden World of Property Market

01:28 — Meet Henry Pedersen: Co-founder and CEO of Homer

02:05 — The Birth of Homer: A Personal Journey

02:50 — How Homer Provides Transparency in Property Data

04:11 — Challenges and Insights in Property Data

05:13 — The Role of Historical Data in Property Decisions

06:39 — Navigating the Property Market with Homer's Tools

12:23 — User Experience and Adoption of Homer

14:06 — Future Developments and Features of Homer

20:07 — Queensland's Unique Real Estate Law

22:03 — Challenges of Property Valuation

23:27 — Agent Behavior and Market Strategies

25:04 — Leveraging Data for Better Decisions

33:44 — AI in Real Estate

35:38 — Property Dumbo Stories

38:14 — Conclusion and Final Thoughts

About the Guest

Henry Pedersen is the Co-Founder and CEO of Homer, a fast-growing proptech platform built to give Australian buyers real visibility into sales campaigns — including the data traditionally kept out of sight. With a background in data, growth strategy, and scaling marketplace businesses globally, Henry brings an outside-the-industry lens to one of real estate’s most persistent problems: information asymmetry.

Prior to joining Homer, Henry worked in international markets building large-scale automotive data platforms, helping bring structure and transparency to vehicle marketplaces across Australia and the UK. His personal experience navigating Sydney’s overheated 2021 market led him to confront the frustrations buyers face: shifting price guides, opaque campaign histories, and the sheer workload required to track property activity manually.

At Homer, Henry focuses on surfacing patterns in agent behaviour, guide-to-sale accuracy, campaign timelines, and other hidden indicators that shape buyer outcomes. His mission is simple: equip everyday Australians with the information professionals use — without the guesswork. Henry is part of a growing wave of innovators pushing for a more transparent, data-driven property market.

Connect with Henry

1. Henry’s LinkedIn
2. Homer AU’s Website
3. Homer AU’s LinkedIn
4. Homer AU’s Instagram

Resources

1. Visit our website: https://www.theelephantintheroom.com.au
2. If you have any questions or would like to be featured on our show, contact us at:
3. The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au
4. Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
5. Work with Veronica: https://www.veronicamorgan.com.au
6. Looking for a Mortgage Broker? alcove.com.au
7. Work with Chris: chrisbates@alcove.com.au

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word, and join us for more insightful discussions in real estate. Your journey starts now!

1. Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
2. Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
3. Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXCathy0?si=26cde394fa854765

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

See you on the inside,

Veronica & Chris