Who do we blame for this?
As a buyer, there's even more stacked against you than outdated and poorly defined sales information.
The reason why so many buyers make bad purchases is the huge number of bad advisors in the market.
The main type of operator trapping buyers are those who are lured by huge commissions paid by developers, and they spend large amounts of money to dress up the properties they're pushing.
Incredibly, they can be successful in selling a dream by using beautiful brochures and live mock ups but in most cases the property will never look as good in real life as it did on those brochures.
The problem is that the property industry isn't regulated as well as it should be, and it means operators can get away with stretching the boundaries of providing fair and transparent information.
This includes shonky advisors who masquerade as buyers agents, when they're actually just selling from a list.
They will say they've shortlisted the best properties, but will surprisingly only be able to present you with new property where they're receiving huge commissions.
It's not unheard of for these people to receive more than $100,000 in commission per property so it's definitely worth the effort they go to in order to convince buyers they're getting a bargain.
These operators will do everything in their power to deflect you from considering other better quality and more reasonably priced properties that might even be right next door.
Another problem is buyers agents who 'specialise' in only a few areas.
While nowhere near as bad as the 'pretend' buyers agents, a buyers agent who can't help you acquire property in the best suburb for your needs from the 15,000+ suburbs in Australia is limiting your opportunity for financial success.
Not because they have bad intentions, they just won't know better opportunities are available to you.
Finally, in the category of which people will stand in your way of good decision making, let's not forget about real estate agents.
This area of the industry is becoming increasingly more professional and reliable. But, good or bad (and let's admit it . .there's still plenty of bad agents), a real estate agent's job is NOT to help a buyer.
They're employed to get the best possible price for the owner of the property they're selling.
So, while the good ones will be as helpful as possible to you when you're making a purchase, it's the agent's responsibility to use the full range of their skills and tactics to entice you into paying the highest possible price for each property.
Of course, the bad agents will do whatever it takes to minimise any problem issues with a property and pressure you into making decisions you would otherwise not make.
Rest assured, with this band of 'helpers' you will have a very limited chance of being the most successful property owner in the neighbourhood.