The Australian system also includes some key consumer protections that Canada's lacks. CBC Market place recently investigated how Canadian consumers can be at a disadvantage when buying a home, as bids are kept secret, allowing for possible manipulation. Using hidden cameras, Market place documented real estate teams in the Greater Toronto Area breaking the real estate act and its code of ethics.
Australians have access to a lot more real estate data than we do in most parts of Canada. Buyers can obtain home inspection results, sale-price histories and information on recent sales of comparable and neighboring homes — without going to an agent to get the information. Almost six million Australians — about a quarter of the country's population — access one of the country's most popular real estate information websites every month.
Australia real estate auctions 2:01 Bids are kept secret in Canada and no would-be buyer knows what the others have offered. In Australia, the process is transparent. Over about a four-week period leading up to the auction, interested house-hunters can schedule visits and inspections on the home in order to prepare their bids. The process usually lasts about 10 to 15 minutes and the spectacle often attracts an audience who just come by to watch. It's not uncommon for house-hunters to attend multiple auctions in one day, quickly moving onto the next property on their list if they fail to win a home.
So, in the normal terms, there are lots of options available in Australia and these qualities in this country is just unbeatable.