There are probably cases where it’s rational for a real-estage agent to sell a property before an auction.
An auction could well return less money than the other party offered.
I wonder if regulation of the bidding marketplace would make this less likely to happen.
You can write regulations to fix single problems. That comes with a cost. It increases bureaucracy. More forms have to be filled. It’s more complex to sell property.
In general I would expect the free market to solve this issue better than a government produced system.
There are probably cases where it’s rational for a real-estage agent to sell a property before an auction. An auction could well return less money than the other party offered.
Auctions aren’t free. There are fees to list items at auction and the organization running the auction is likely to collect a certain percentage of the final price as well.
There are probably cases where it’s rational for a real-estage agent to sell a property before an auction. An auction could well return less money than the other party offered.
You can write regulations to fix single problems. That comes with a cost. It increases bureaucracy. More forms have to be filled. It’s more complex to sell property.
In general I would expect the free market to solve this issue better than a government produced system.
Auctions aren’t free. There are fees to list items at auction and the organization running the auction is likely to collect a certain percentage of the final price as well.