News segments spruiking the real estate market and reminding buyers to hurry up and buy now or miss out for ever has been the staple of 6PM news bulletins on Saturday night.
But the tide might be changing.
Channel 10 reports tonight of a fickle and cautious buying public, smarting up to the used-house salesman rhetoric.
“With the distraction of the federal election over, the Sydney and Melbourne property markets have had record high auction numbers this weekend. But new research shows that Aussies young and old aren’t necessarily buying the real estate rhetoric” reported Channel 10.
“But increasingly savvy buyers are suspicious of real estate experts and their vested interests” – Can’t understand why?
According to the first quarterly LEDA Real Estate and ReachTEL Consumer Property Confidence (CPC) Index of 1,700 buyers, only 53 percent trust what the real estate industry said about the property market.
And only 20% said they trusted real estate agents.
Barry Goldman, LEDA founder told Real Estate Business “In principle, the industry has a pretty poor reputation when it comes to truth and honesty,”
“The biggest issue is that most of the industry commentary is generated by the self-interest of real estate agents or, alternatively, the self-interest of the media that publishes advertising for real estate.”
“Effectively, the media wants advertising sales, so they will always try to put a positive slant on the real estate market – irrespective of the conditions.”
You can watch Ten’s news story here
» Going once, going twice – Channel 10 News, Saturday 14th September 2013.
» Only 1 in 5 Australians trust agents – Real Estate Business, Tuesday 3rd September 2013.