More Real Estate Agents Failing to Disclose Auction Sale Results

DODGY real estate agents are not posting auction results, in a move creating even more smoke and mirrors in the sector.

In a move not monitored by Victoria's toothless tiger industry watchdog (Consumer Affairs Victoria), some 12 per cent of public auction results were not recorded in April 2009, compared to 5.1 per cent in April 2008.

The practice comes as agents tell consumers to refer to sale results, for a property's price guide. At the same time, many agents are refusing to disclose estimated sale prices during a campaign, meaning Australian home buyers risk making a purchase based on very little reliable information.

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Posted originally: 2009-09-20 18:04:00

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