Stuff reports that some property owners in Christchurch are selling cheap as increasing panic delivers desperation.
Yes some will be selling without recourse to the "services" of an "agent" but there will be many being taken for a ride by licenced members of an organisation who spend millions of dollars attempting to climb higher on the list of "trusted" professions.
The first thing an agent wants an owner to sign is a 'contract of agency' a document the agent will claim is a document that outlines all the benefits the seller will enjoy when they commit.
The truth is the Contract of agency is the bit the nice agent needs to sue the arse off the seller when a dispute arises over "Who sold the freekin property", no more no less.
An agent has a fiduciary duty to act in the best interests of the seller at all times but that submerges into the swamp of manipulation once an increasingly desperate agent moves to getting a "deal" whatever it takes.
There are many sharks circling in the muddy waters of the devastated suburbs and a vast pool of the vulnerable for them to feed on.
What a heaven sent opportunity for the real estate industry has to really polish its image but sadly they will just enjoy the opportunity to join the feast.