A mortgagee exercising a power of sale must give consideration to engaging local agents where the property is located in a distinct real estate market, even for an 'in one line' sale. The duty under s 85(1) PLA (Qld) and s 420A(1) Corporations Act focuses on the process of sale: a sale below estimated market value does not of itself establish breach, but where the process is flawed, the sale price will not be accepted as evidence of market value. Where a reasonable method of sale is chosen, there is only one market value referable to that method. Once breach is established, no causal link between the particular breach and the loss need be shown; the inquiry is whether the sale price equates to market value.
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