<\/p>\n
Contestants Courtney and Sev during the auction of their property on The Block.<\/p>\n
The Block winners Courtney and Sev\u2019s $1.27m auction haul has raised eyebrows after the underbidder used an auctioneer from the same firm selling the home to bid for them.<\/p>\n
It can also be revealed that buyer effectively had two proxies in the auction room, both authorised to bid on their behalf \u2014 though for different homes.<\/p>\n
Courtney and Sev became the most successful contestants in the show\u2019s history with a combined haul of $1.87m, including the value of prizes won during the show\u2019s filming earlier in the year as well as a $100,000 bonus for the biggest sale price. <\/p>\n
RELATED: Secret auction tactics revealed on The Block 2026<\/a><\/p>\n Block contestants reveal \u2018scary\u2019 auction stress<\/a><\/p>\n The Block 2026 delivers shock clean sweep at Mt Eliza auctions<\/a><\/p>\n Their auction, conducted by The Auction Company\u2019s Paul Tzamalis on behalf of OBrien Real Estate, wound up reaching $4.72m \u2014 far above the $3.45m reserve price. <\/p>\n But the nation\u2019s top buyers\u2019 advocacy industry group has urged prospective homebuyers to think carefully before engaging real estate agents to bid on their behalf, particularly if they work for the same firm that is selling a home \u2014 which can create risks of a conflict of interest.<\/p>\n OBrien Strategic Growth Advisor and Head of Auctions was bidding on behalf of buyers travelling in Japan on the night, and had signed forms authorising him to do so as part of a separate business he operates called BID360 \u2014 in which he uses his skills as an auctioneer to bid on behalf of buyers. <\/p>\n Mr Martin has confirmed he had no direct involvement in selling House 4, which was represented by OBrien colleagues Stavros Ambatzidis and Kayn Luff. <\/p>\n Andrew Martin checks his phone during The Block auction for House 4. Image: Channel 9.<\/p>\n Mr Martin makes a bid early on in the auction. Image: Channel 9.<\/p>\n \u201cI was representing buyers travelling through Japan and signed a form as a buyer\u2019s advocate for my own business BID360,\u201d he said. <\/p>\n \u201cAnd I would suggest that as long as you are not the listing agent, I think this can still work.<\/p>\n \u201cI don\u2019t necessarily agree there is a conflict of interest there \u2026 I was there as an independent.\u201d<\/p>\n He added it was not vastly different from an agent assisting a buyer who was in the room with their bidding, though additional measures had been taken including signing documentation to act on his buyers\u2019 behalf.<\/p>\n There are laws prohibiting real estate agents directly working for both the seller and the buyer of a property, particularly where they accept a fee on both sides as they would then have fiduciary duties to both parties that creates a conflict of interest. <\/p>\n In Mr Martin\u2019s case, he did not charge the buyers he was bidding for \u2014 and said he was also glad his bidders dropped out when they did in their pursuit of House 4, as it had been clear nothing was going to stop the couple that ultimately bought it.<\/p>\n Mr Martin in the background at one point during the auction, with buyers agent Andrew Date, who was also engaged by the same buyer at the far right. Image: Channel 9.<\/p>\n Courtney and Sev also raised eyebrows with a cheeky inclusion of a wine cellar that they had classified as an artwork. Image: Channel 9.<\/p>\n However, in a bizarre twist his buyers did go on to buy House 5 in the final auction of the day, but not through Mr Martin. <\/p>\n They had also engaged buyer\u2019s agent Andrew Date separately for that auction and property. <\/p>\n Mr Date confirmed the unusual arrangement, noting it was made by his client at their own volition \u2014 though had been a surprise for him.<\/p>\n \u201cI was in the room and watching all the auctions, and if the buyer had bought House 4, I wouldn\u2019t have been bidding for House 5,\u201d he said.<\/p>\n \u201cWhen I first heard he was bidding on their behalf \u2026 I couldn\u2019t get my head around it.<\/p>\n \u201cI\u2019m a professional bidder and he is a professional auctioneer. So there are differences in bidding for someone versus calling an auction.\u201d<\/p>\n Mr Date added that his clients were very happy with their purchase and that the auctioneer for House 4, which won the night, had done a very good job.<\/p>\n The Real Estate Buyers Agents Association of Australia president Zoran Solano said outside of The Block scenario, buyers engaging a real estate agent or auctioneer connected to the firm selling a home faced risks \u2014 as did the agent, in some states. <\/p>\n Courtney and Sev\u2019s winning home from The Block 2026 in Mt Eliza. Image: Channel 9.<\/p>\n REBAA president Zoran Solano says there are risks to having a real estate agent from the same firm selling a home handle your bidding.<\/p>\n \u201cAs buyers\u2019 agents, it is something we are trying to encourage buyers to not do,\u201d Mr Solano said. <\/p>\n \u201cThough there\u2019s nothing illegal about it, and it is very much used across the country.\u201d<\/p>\n While not commenting on Mr Martin\u2019s involvement in The Block auctions, he warned buyers with an agent acting on their behalf might be left wondering if they had been faithfully informed of every detail in the auction before being encouraged to bid or continue bidding.<\/p>\n There could also be miscommunication and misrepresentation risks. <\/p>\n \u201cAnd there\u2019s definitely pressure tactics that could be used,\u201d Mr Solano said.<\/p>\n In Queensland, though not all states, a bidder registered as a proxy also has risks of being held liable if the buyer decides not to proceed with the purchase \u2014 something buyers\u2019 agents are insured for.<\/p>\n Mr Solano added that buyers\u2019 agents would also engage with a particular strategy, rather than just referring every bid with instruction.<\/p>\n \u201cIt\u2019s the difference between having a mouth in the room, and having a professional supporting you.\u201d<\/p>\n Inside the residence that had the attention of judges and buyers.<\/p>\n A high-priced sale that dwarfed other results shows it was far above the rest of the season\u2019s sales.<\/p>\n While most buyer\u2019s agents charge a percentage commission for acquiring a property if they have researched and led a buyer to it, when they are only engaged to bid or negotiate for a home they typically charge a one off fee of $800 to $1200, though Mr Solano said some did offer their services at higher and lower levels than the norm.<\/p>\n Sign up to the Herald Sun Weekly Real Estate Update. Click here <\/a>to get the latest Victorian property market news delivered direct to your inbox.<\/p>\n MORE: Melbourne typical house values tumble to $952,000 ahead of RBA decision<\/a><\/p>\n<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n