A Taupō househunter says buyers are deliberately being put under unfair pressure as real estate agents increasingly use auctions to sell properties. Real estate agency Bayleys, which produced the material Stillman complained about, defended its marketing and the use of auctions generally. In April, a third of all properties were sold at auction – the highest percentage of auctions in any April month on record. Patton said it was inaccurate to suggest auctions were being portrayed as ways to push buyers past what they wanted to pay. “Auctions are just one method of sale and its important buyers and sellers understand the method before engaging with it.”

Source: Stuff June 08, 2021 16:52 UTC