Words: Ashley Rigg
Published: 21st October 2010
*New "Freakonomics" film takes a pop at estate agents
The film version of "Freakonomics", the best-selling book by Steven Levitt and Stephen Dubner, uses "hard data" and crisp graphics to accuse estate agents of not having the best interests of clients at heart.
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Source: Global edge
User Comments
In this part of the world, (Sydney Australia) auctions rule supreme as the preferred method of sale to achieve the highest price.
Our market place has been educated to the point where buyers don’t think an auction is a fire sale (it has taken us years to educate the market place), but actually think the reverse and while they don’t like auctions as it puts the seller in the driving seat, they still come to purchase(have no choice).
An auction sale generally outstrips a private treaty sale (for sale) price.
It’s the most transparent way to sell property. as after a well plan out marketing campaign has been conducted, all buyers who are actively looking for that type of property will have seen it, made a decision whether to inspect or not, if inspected they then make a decision on its worth to them, those interested attend the auction and compete to buy, when bids stop.
So fairly obviously every active buyer possible interested has had to make a decision as to whether it is their preferred new home.
If it is they have to come to auction and compete to purchase, when the bidding stops the highest price has been achieved and can be seen to be achieved in a very transparent fashion.
And this is in one of the most expensive real estate markets in the world, so we don’t sell them cheap.
Gordon Puttick
Licensed Real Estate Agent
Park Beachside Real Estate
Coogee, Sydney, NSW, Australia
Gordon Puttick,
Park Beachside Real Estate Coogee NSW Australia
So the freakonomics guys are happy to take the responsibility for the drop in prices and lower sale prices taken by people holding out as the market began to crash in 2009? I thought not.
As per most of the media, happy to take ad revenues when times are good, love to kick the business when it's down.
Peter Mindenhall,
IPINGlobal (Global Prospects SL)
There is nothing like sweeping generalizations, dismissing a whole business sector and its practices.
Statistics can be manipulated to prove an argument in most cases. I am sure that there are agents who operate in this way, much the same as you get rogue lawyers, accountants etc.
A best seller that is short sighted, ill informed rubbish.
Mark,
First Property Choice