RE Agent ethics - SBS tonight

[pulse]

Did anyone see the show in Airds in Sydney tonight. It was about a dept of housing suburb which profiled a few families.

It profiled a real estate agent who, when a place had no interested buyers at auction lied (on camera) to a couple of other buyers.

She changed the sticker to "for sale" from "auction" and then a couple pulled up outside, who had previously inspected it. She then told the journo she would lie to them and walked up and said something like:
"A couple were interested but their finance fell through prior to the auction, they are now planning to buy at private treaty"

She then walked away and said it was "just a little white lie", "you have to keep them interested, you know" She then briefly quipped that "is it ethical.. but borderline I 'spose"


Couldn't believe that someone could lie that easily. unbelievable!!

Cheers
a shocked pulse

 

[Alex P Keaton]

Can they do that?

I'll be tuning in later tonight

 

[Xenia]

Hmmmm!
sound's like a "typical" RE agent to me

When I was going through training to get a license there was one lecturer who insisted that you should never tell buyers that theirs is the only offer!

I have done a few sales and have never had a problem telling buyers that "no we haven't recieved any offers yet and if you submit one today yours will be the first one" I think that line generated as much interest as saying that we have 10 other ones! I don't understand why some agents think they have to lie

 

[Bargain Hunter]

Not sure what the problem is, I wouldn't base any decision on what a REA told me about the amount of interest or otherwise in a property.

If I was under pressure to sell a property I wouldn't want the REA to disclose this to a potential buyer. So what could they say, "I can't say because of privacy laws." I'd really be concerned if I was a buyer then.

Regards

Andrew

 

[Jacque]

This show was actually a repeat of a show that was aired some years ago now (2-3yrs ago, from memory) and I remember being disgusted when I first saw it- does nothing for the reputation of REA's, that's for sure.

 

[BoatBoy]

Heres the forum link for that program

http://www21.sbs.com.au/saforum/viewtopic.php?t=112&start=0

Dave

 

[steveadl]

I watched that show last night too.

I did think it was a bit dodgy when she lied to the prospective buyers. She said that the auction has been dealyed due to the finance of the other buyer - not sure if they changed it to private treaty. Did I understand correctly that she was acting on behalf of the Housing Trust with the sales she was doing?

Must say though - the thing that struck me were the prices of the houses. I'm not familiar with Sydney - can someone give me an idea how far out Airds is? The program synopsis just said "south western Sydney."

My point being, even if it a housing trust area - they had one investor buy a house that was big enough to knock down and put two on (well, according to the above mentioned REA anyway ). Went to auction and he was the only bidder - got it on the first bid for $140k. Rents in the area were something like $180pw even for the Housing Trust homes, with private rentals marginally higher (according to another sub-story on the program).

Like I said, I don't know the distance to city, but surely that's pretty damn good for a subdividable block within the Sydney city limits? The program had a date of 2006 from memory - any word on prices there now?