Search Results for: dummy bidding

Questions Raised Over Dummy Bidding Allegation

Posted on August 29, 2008 by | 17 Comments
OPINIONby Peter Mericka B.A., LL.BReal Estate LawyerQualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd Peter Francis is a high-flying legal-eagle with the high-powered law firm Maddocks Lawyers of Melbourne. Peter Francis wrote a letter to a vendor of real estate on behalf of a very well known real Melbourne estate agent, accusing the vendor of “dummy bidding”. It is highly unusual for a lawyer to make a direct allegation of such a serious nature,...

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In NSW Dummy Bidders Now Face $55K Fine

Posted on May 3, 2007 by | 0 Comments
From domain.com.au “Tougher dummy bidding laws were introduced to the real-estate industry last weekend on one of the year’s busiest auction days last Saturday.” But contrary to what Fair Trading Minister Diane Beamer suggests in the article, we do not believe that increased penalties enhance consumer confidence in auctions or the real estate industry. Should any consumer have faith in a system where higher penalties are needed? (See the full story at domain.com.au)

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The Dummy Bid Lives!

Posted on May 1, 2007 by | 0 Comments
by Peter Mericka B.A., LL.B Real Estate Lawyer and Qualified Practising Conveyancer Victoria Lawyers Real Estate As mentioned in our previous posting, the dummy bid never went away, it simply mutated into more insidious forms.  According to “Secret Agent” (The Sunday Age, 4 June, 06, Domain p.2): “A Government watchdog, the Estate Agents Council, is investigating the secret ‘emerging practice’ of dummy bidding at boardroom auctions. ‘(Protection from dummy bidders) is not available at an...

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Some Conclusions and Recommendations to Address the Market Price Manipulation Strategies Which Affect Real Estate Negotiations

Posted on November 17, 2013 by | 7 Comments
Author: George Rousos of Industry Training Consultants Some of the activities and practices of the real estate industry, that might be questioned in ethical terms are about the potential to distort pricing information in a market in which it is already very difficult to obtain relevant and dependable information. The pricing information is distorted because some of the conditions associated with the definition of market value have been manipulated, particularly the concept of the arm’s length transaction...

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At Last A Brutally Honest Account of One Failed Auction

Posted on November 12, 2013 by | 3 Comments
While all property auctioneers, the vast majority of real estate agents and most newspaper property reporters sing the praises and extol the virtues of auctions for buyers and sellers alike, there are a few of us out here in real estate and conveyancing land who have our doubts. Fellow consumer advocate Neil Jenman has long argued that auctions get lower prices. Real estate trainer Gary Pittard recently demonstrated how it is impossible to guarantee the...

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Video Recording of Real Estate Auctions

Posted on February 15, 2009 by | 23 Comments
OPINIONby Peter Mericka B.A., LL.BReal Estate LawyerQualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd   It’s time for consumers to get serious about the tricks and criminal conduct associated with real estate auctions. As most of the criminal conduct associated with auctions takes place when the auction is in progress, the logical solution is to make a record of the proceedings. The video recording of every real estate auction would greatly assist in keeping...

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REIV Caught Cheating – Again

Posted on December 8, 2008 by | 22 Comments
Opinion by Neil Jenman Consumer Advocate For many years, the Real Estate Institute of Victoria (REIV) has misled and deceived real estate consumers. Whether it be trying to justify (or deny) dodgy practices such as false price quoting or whether it’s brushing-aside common claims of widespread dishonesty, as far as real estate bodies go, they don’t come much dodgier than Victoria’s Real Estate Institute (REIV).     The institute is headed-up by Enzo Raimondo (who...

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Enzo Raimondo Must Resign

Posted on August 4, 2008 by | 9 Comments
Opinion by Neil Jenman Consumer Advocate Victoria’s real estate industry is embroiled in another scandal. This time, the body at the centre of the scandal is the Real Estate Institute of Victoria (the REIV) and its CEO, Mr Enzo Raimondo. The REIV is an industry association whose members comprise around 80 per cent of the state’s 6,000 estate agents. The REIV’s purpose is to protect the interests of its member agents. One of its aims...

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Estate Agents Revolt Against Toothless Tiger

Posted on November 29, 2007 by | 1 Comment
by Peter Mericka B.A., LL.BReal Estate Lawyer Qualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd   It’s not often that I have to agree with the Real Estate Institute of Victoria (REIV), but they have a point when they question the competence and resolve of Consumer Affairs Victoria (CAV). In an article titled “Real estate agents revolt over underquoting” (The Age 22 November, 2007) Ben Schneiders observes: “Victoria’s real estate industry has moved to...

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Pricing Propaganda From REIV

Posted on September 28, 2007 by | 2 Comments
by Peter Mericka B.A., LL.BReal Estate Lawyer Qualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd   In his weekly propaganda piece in The Age newspaper (The Age “Domain” 29 September, 2007 p.3) CEO of the Real Estate Institute of Victoria, Enzo Raimondo makes something of a Freudian slip when he says, “Agents should ask for a single price for properties sold privately.”  Like so many of his type, Enzo Raimondo seems to believe that...

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