Sincerity of real estate agents questioned
According to a survey conducted by non-bank lender MyRate has found that 85 per cent of Australians do not trust real estate agents. Most of the 1,232 people surveyed said they thought that agents were only out to get the best possible price for the clients and the best commission for themselves. The managing director of MyRate, Kevin Sherman, said “Researching the recent sale price of similar properties will give prospective buyers a more accurate indication when making an offer. Other precautionary practices involve having an independent site inspection conducted on the property and looking into government land proposals for the area.” The survey also found that 66 per cent of people were sceptical about the legitimacy of bids at property auctions.