The Dark Side of Auctions
In this episode of The Court Of Public Opinion, real estate expert Neil Jenman sheds light on the hidden flaws within the real estate auction system. He reveals that these auctions are not designed with the sellers’ best interests in mind.
“If any agent says auction is the best way to get the best price, they are either incompetent or dishonest,” Jenman argues.
His candid assessment exposes how auctions often benefit the agents and buyers more than the homeowners themselves.
Listen Below
Marketing Tactics in Real Estate
Jenman openly criticises real estate marketing tactics, especially charging sellers for advertising regardless of success.
“It’s appalling that we’re the only country where sellers have to pay upfront for marketing,” he notes, pointing to Australia’s unique approach compared to other nations.
This upfront cost can put immense financial pressure on sellers, even when their property fails to sell. Jenman explains that agents use these fees as a safety net, benefiting themselves over their clients.
Real Estate Auctions: A Call for Change
In a bold challenge, Jenman offers $100,000 to any agent who can prove him wrong. No one has.
This challenge underscores his confidence in exposing the truth about real estate auctions and marketing practices. According to Jenman, the current system needs a drastic overhaul, and sellers deserve better protections and transparency.
For more insights into the dark side of real estate auctions and the need for change, listen now.
Topic time in podcast and video: 02:25 – 04:40
