PHOTO: If you watch TV shows like The Block you get to see every angle of the sales process
Key points:
- With the housing market in decline, not as many real estate agents are disclosing how much properties sold for
- Analysts say the lack of transparency is a sign that property prices are falling
- Agents don’t have to disclose the price, how the property was sold, or the number of bidders
Not just the elated and deflated contestants, but a transparent reserve price, current bids and recent sales.
But in the real world, punters aren’t as lucky.
After a sale, real estate agents don’t have to disclose the price, how the property was sold, or the number of bidders — and vendors can also ask for prices to not be disclosed.
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