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Most of the properties are now advertised as Sale by Auction so that the vendors do not need to disclose the price but look for best price. Agents then scares the potential buyers that Auction clearance rate is above 80% and if the property goes to Auction then they have a list of Chinese buyers who are ready to pay higher price. They keep ready of couple of (classical) examples, for example one in Eastwood (NSW) was sold one million dollar above the reserve. The agent then tells the seller the reality that it is better to sell prior to Auction as there is no one who can go above certain price. Some property owners are embarrassed to live in the neighborhood if the property failed to sell in the Auction and the worst case is that there is no bid. The property will be sold prior to the Auction by scaring the buyers and sellers and Agent collects his fee and the agent move on to the other property.
The property is counted as sold in Auction though it is sold prior to Auction because it was listed for Sale by Auction. This boost the clearance rate up.
Agents then use the new clearance rate to increase his sale and sale price. Its all vicious cycle.
Auction clearance should only include the property sold under hammer (not before or later). The base of the calculation rate should be all the properties listed for Auction.
The media is not going to help to expose this misleading reporting as they are party of profiteers. We are seeking help from academics in the Universities in Media, Economics and Finance departments. If the academics in Australia do not help then we will go to the academics in international universities to write the academics in Australia about teaching logic, ethics, moral duty etc. |
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澳洲半年3份工 (2005-7-17) 童心的魔镜 
纯功课贴-自家草地，化妆刷具功课贴 (2012-5-24) bobo-ooo 
发表于 2014-3-8 06:50
