Buyer Beware At Auction!

28 Mar 2017

A recent blog post created by a Sydney based Real Estate Agent, has the team at Hot Property shocked, and has created a timely reminder for all property buyers to avoid using a Real Estate Selling agent when needing representation to bid at auction.

Quotes like this from the Blog post send shivers down my spine;

“I always like to help buyers out when they are bidding at auction…..This buyer, I have to admit was easy….She just said yes to every bid I pulled out of the hat for her.”

When an agent openly boasts about this sort of misrepresentation, and manipulation of a buyer it reinforces the need for not only tighter regulation around the auction process but also consumer awareness, that selling agents are in the market to represent the seller and get the highest price possible, at all costs it appears from this ladies attitude.

Then there are quotes from the blog like this;

“But when you’re spending other people’s money what’s $10,000? Don’t despair.. I did try and make her bid against herself and increase her bid to $1,200,000” 

Buyers are stressed, and nervous enough as it is, let alone the having this agent trying to steal money out of the buyers pocket, and trying to bid against themselves, are they for real??

Now I must be even handed here, and say that not all selling agents are like this person, but as a buyer you really don’t know until its too late. That is why if you’re looking for Auction Representation you need to ensure that you engage an independent and professional buyers agent to not only bid at auction, but develop an auction strategy as well. This will ensure your future is in the right hands.

PS the strategy of bidding against yourself isn’t a good one! haha

To find out more about auction representation click here

 


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