'Estate agents are underestimating asking prices to create bidding wars among first-time buyers'

"Homes in Ireland regularly sell for well above their asking price and buyers are frustrated by what they perceive as a lack of transparency and a suspicion of 'phantom bids' designed to push prices higher"

"In early October, a burnt-out house in the Finglas area of Dublin went on sale with an asking price of €225,000 following an arson attack. The estate agent's promotional video went viral across the internet when the auctioneer described the house as a "fantastic opportunity for anyone looking for a project or investment"."

"Auctioneers have always had a talent for florid and upbeat descriptions of their properties. Beware the "cosy residence with convenient transport links". It's likely to be a tiny wreck of a home next to a busy road."

Homes in Ireland frequently sell for significantly more than their asking prices, creating buyer frustration and mistrust. Buyers perceive a lack of transparency in transactions and suspect the existence of phantom bids intended to drive prices upward. A burnt-out house in Finglas was listed at €225,000 after arson, and an estate agent's promotional video went viral when the auctioneer called it a "fantastic opportunity for anyone looking for a project or investment." Auctioneers commonly use florid, upbeat descriptions such as "cosy residence with convenient transport links," which can mask poor condition and mislead buyers.

Read at Independent