The Elephant in the Room
The property podcast for the thinking person.

Episodes

Episode 275: Real Estate Industry Responds to Four Corners Exposé

The real estate sector in Australia has come under scrutiny lately after a Four Corners report uncovered certain questionable practices employed by real estate agents. While this exposé has sparked a series of discussions and raised important ethical and regulatory questions about the industry, there remain many uncertainties about what will happen next.

In today’s episode, we closely examine the aftermath of the Four Corners exposé and its implications on the Australian real estate market. We also talk about our views on what regulators can do to tackle poor real estate practices, presenting a nuanced perspective on the state of the industry and exploring possible solutions moving forward.

If you want to keep abreast of the latest developments in the Australian real estate industry, we invite you to join us for an insightful and informative conversation on the real estate industry's response to the Four Corners exposé.

Episode Highlights:

00:00 - Introduction

01:39 - Chris and Veronica's initial reactions to the Four Corners Exposé

03:17 - Uncovering the flaws and challenges in Australia's real estate industry

07:40 - Can the real estate industry overcome its sales-focused past?

13:47 - Is the CBD system failing the real estate industry?

18:59 - What buyers SHOULD do to minimise risk when purchasing properties

22:30 - The most common ethical issues in real estate and how to avoid them

26:14 - Uncovering the truth: Real estate agents and undisclosed kickbacks

31:41 - The real culprit behind under-quoting: Poor legislation or unscrupulous agents?

38:03 - How to protect yourself from the impact of underquoting in the real estate industry

45:48 - How real estate agents manipulate buyers with underquoting

52:19 - How can the real estate industry shift its culture towards being trusted advisers?

Resources:

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Chris Bates