Ending the entrenched real estate racket
OPINION
by Peter Mericka B.A., LL.B
Real Est
ate Lawyer
Qualified Practising Conveyancer Victoria
Director Lawyers Real Estate Pty Ltd
Finally, we have a real estate industry commentator who is independent enough to describe the industry as it really is. Consumer Affairs Victoria and print media reporters take note!
The Corrupting Effect of Conflicting Interests
Philip Soos is a researcher at the School of International and Political Studies at Deakin University. In this article Mr. Soos confirms what Consumer Affairs Victoria ignores, and what the real estate industry denies, about the corrupting effects of conflicting interests in the real estate industry:
“Conflicts of interest undermine the quality of advice and policy. It is critical to the functioning of markets and government that parties involved are free of conflicts, especially monetary ones.
We would like to believe others are ethical, engage in honest practices, and do not withhold or manipulate information for selfish reasons.
Sadly, the real estate industry is saturated with such conflicts. Individuals and organisations with direct and indirect connections to the industry are so plagued by conflicts of interest that the industry is a textbook example, along with the defence and pharmaceuticals sectors, of what not to do.”
To read the full article, click on the following link: Ending the entrenched real estate racket
2 Comments
Interesting how one sided again. Vested interests me thinks perhaps you should look closer to home! There is good and bad in any industry. Most agents are hard working and extremely professional. Unfortunately there will always people who will feel aggrieved in such an emotional journey. But when the facts are analyzed on prices of properties bought and sold in any month the market decides not the agent. Now look at your real estate business Peter and tell me how impartial you are?
Rob May, you seem to be struggling to make your point. All I can glean from your comment is that you’re angry about criticism levelled at the real estate industry. So what’s new?
You’ve asked me to look at my real estate business and tell you how impartial I am. I am not impartial at all, and I openly declare that ALL real estate businesses should operate in the same manner as mine if they are to be truly fair and transparent.
Puffed up salespersons will not be tolerated in the professional legal services industry of the future. What you need to understand Rob May is that real estate is not a stand alone industry; it is part of the legal services industry.