Was called during the week by agent asking if i'm going to the auction today (wife and i got about 4 calls). He clearly stated to both wife and i on seperate occassions "the vendors will be moving in to new house and property will sell to the higest bidder on the weekend. If you don't attend the auction, you'll miss out and the house will go to someone else, the house will sell to the higest bidder regardless on the weekend".
We showed up to the auction today. Turnout was poor. We won the action. The house is passed in. Agent talks to us and asks if we want to offer more, of course i said no. I reminded him that his advice was that the house would sell regardless on the weekend, his rude response was "we are not going to give it away". He said there were 4 other interested parties that wanted to talk to him if it was passed in, they didn't want to attend the auction though...
Anyway, we left and accepted they wont budge. I got a call from the agent about 30 mins later. He claims the other parties (that did not attend the auction) are still interested and offering $50k more than us. He claims that if we want the house we should offer $70k more than we offered at auction and we would get it.... (usual line i keep hearing...)
I just had a look at the days aution results at http://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf
My winning bid has been published as being $22,500.00 higher than my actual windding bid...
If i didn't know any better i would say they will continue trying to sell the property and use the inflated auction value (that must have been published in error..) as a starting point for future interest....
Is there any authority that supervises agent conduct or do they get away with this day in day out? I recordered the whole auction and discussions with the agent today as a result of other similar misrepresentations made by agents in the past few weeks (this is just the tip of the iceberg, the others have been worse!).
I just can't help but get frustrated by such unprofessional conduct by agents. These agents just don't stop lying to get a sale. What do they think we are idiots or something and will accept their representation as truth regardless of how false or ridiculous it is (but I do acknowledge that many uninformed emotive buyers do accept their lies as truth).
Any advice on how to manage such unprofessional real estate agent behaviour would be appreciated.
