anyone shine a light on this issue?
I assume there are big moves within the estate agent industry/IAVI to clamp down on this widespread & dishonest practice?
I thought not.
I assume there are big moves within the estate agent industry/IAVI to clamp down on this widespread & dishonest practice?
Happens regularly - becomes apparent when the genuine bidder comes second - they usually get a phone call from auctioneer saying the seller will now accept their bid (albeit the second highest).....
Whatever about dishonest, they are awfully unaccountable! They played a big part in the bubble but will unlikely be held to account. Large problem too, in that it takes no qualification really to be an auctioneer.
That is a real part to the problem and it is one that should now be properly looked at. We have a chance to overhaul the profession while it is in the doldrums, but having said that qualifications do not make men honest.
The IAVI have looked for regulation for decades, they had 95% backing within the organisation for a regulatory body and at the end of it all they do not write the laws.And what did the IAVI do with this issue when the boom was at its height? Exactly, says it all really....
It would take someone with a compulsive gambling habit to try and push a bid with a ghost bidder in the current market would you not agree?I have no illusions about the property agents so I'd say yes. We have found ourselves in a situation like that just recently and as the house was really great, we did not know whether there is a genuine bidder or a "ghost bidder" so when we were calling with our counterbid I mentioned something about this being just about where we were willing to go, because though we liked the house we did not believe it was really worth more and voila, we got the sale agreed the next day.