Auctioneers accused of misleading housebuyers

AUCTIONEERS were accused yesterday of mistreating vulnerable housebuyers by enticing them into showrooms with unrealistically low guide prices.

Senator Shane Ross said consumers had been abused by auctions for years and he welcomed the Government’s decision to review how the industry operated.

“Auctioneers consistently get the selling price of a house wrong - on the cheap side. They entice people with low guide prices in order to get them into the showrooms. They suck in vulnerable buyers to make them think they can buy a house, get a mortgage, pay for a survey and then they find the price goes away from them.”