The process of selling a home goes on in the overheated housing market not always just as honest. That is why there is a demand for more transparency when bidding on a house. Of the letter to parliament In which she proposes a ‘bid log’, outgoing Minister Kajsa Ollongren of the Interior makes a concrete appeal to real estate agents.
“Brokers now really have to get to work. Ollongren’s proposal is clear and goes quite far,” says Peter Boelhouwer, professor of housing market at TU Delft. “It still leaves something to the sector, but if that does not meet expectations, it will intervene through public law.”
After all, brokers must first ensure that buyers gain more insight into the bidding process. If they can’t do that, Ollongren wants to enforce it by introducing a law. “Brokers say they have a code of honor for transparency, so they first get the chance to adhere to it. But if that doesn’t work, I think there will be legislation this spring. So they have six months.”
‘Method not always suitable’
Whether real estate agents can realize this within six months is not so easy to answer, says the largest real estate association NVM. “A number of non-transparent brokers ruin it for the rest. We are also at the table with the ministry, but the proposal for a mandatory form of registration must first be looked at carefully, because not every house or seller fits into an online bidding process .”
The online bidding process, in the form of an automatic bidding log, should lead to more control over the buying process. It is already used in other European countries, such as Norway. With the logbook, prospective buyers can see afterwards how much and when others have bid.
Some NVM brokers have been working with such a bidding log for a year and in recent months the trade association VBO has helped brokers to work with a digital bidding log. 59 houses have now been sold, including that of Paul Huuksloot.
‘Important that you can see why or why not’
Huuksloot’s experience with the online bidding process was pleasant in this difficult housing market. “I am pleased that I was able to sell my house in a neat and transparent manner. It is especially important that people can see why they are or are not getting a house.”
Because Huuksloot was not only a seller, but also the buyer of a house. His bid did not end up in a bidding log. “It was difficult to buy a house, so I also experienced different things. I also hear that from others around me. You have no idea how the sales process goes.”
The bidding log can also provide more clarity among brokers, thinks Professor Boelhouwer. “The rules of conduct for brokers and the law are sometimes not in line with each other. As a result, it is sometimes unclear to brokers what is or is not allowed if the procedure is changed.”
Not only a bidding log, but also a financial and architectural reservation to the bidding are scheduled to be introduced. Industry associations have until the end of this year to write an improvement plan.
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