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Episode 91: Fictitious Buyers – Exposing Real Estate's Dirty Tricks
Manage episode 498732336 series 3412395
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Hosts Ciaran O'Brien and Peter O'Malley uncover the deceptive use of “fictitious buyers” by agents—an unethical tactic designed to pressure genuine buyers into overpaying. Peter explains how this differs from the previously discussed “phantom buyer” strategy, and outlines how buyers can protect themselves from falling victim to false competition.
We also cover:
- Why written confirmation from agents is crucial
- The legal implications under consumer law
- The importance of understanding where an agent’s duty of care lies
- Ongoing vendor hesitation ahead of expected August rate cut
- Low stock levels contributing to increased auction competition
- Clearance rates rising to 55.4% as market momentum builds
As always if there is a specific topic you would like for us to cover, please reach out and let us know!
Chapters
1. Introduction to Current Market Insights (00:00:00)
2. Understanding the Fictitious Buyer Tactic (00:02:13)
3. How to Protect Yourself from Deception (00:08:50)
4. Legal Consequences for Unethical Agents (00:13:52)
5. Upcoming RBA Interest Rate Decision (00:17:14)
6. Market Outlook and Weekly Data (00:23:46)
143 episodes
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