by Peter Mericka B.A., LL.B
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