Popular Australian property TV shows, such as Location, Location, Location Australia, The Block, and Luxe Listings Australia are facing criticism for allegedly promoting unrealistic expectations and potentially leading buyers to make regrettable property decisions.
Cate Bakos, the president of REBAA, particularly criticised ‘Location, Location, Location’ stars Mitch Edwards and Mark McKie, both winners of The Block, for suggesting properties located on busy truck routes and in flood zones. Bakos suggested these locations could result in viewers overpaying as much as 20% of a property’s value.
She further pointed out that the show did not provide clear evidence of how the home values were assessed before buyers made offers. Key processes such as pest and building inspections, engineering reports, and negotiations were also not disclosed.
One property located in Kingsville, a suburb of Melbourne, was recommended despite being on a busy main road known as a truck route. Bakos expressed concern over the lack of care in selecting quality locations and pointed out the irony of the show’s title.
In Queensland, Melinda Jennison, REBAA’s representative, noticed a property in Brisbane suburb Bulimba recommended by Mitch and Mark was subject to the Brisbane River Flood Overlay. This crucial detail was not disclosed on air, raising concerns about the lack of due diligence.
“There was no due diligence discussed before auction, in fact, the buyers actually asked ‘what’s wrong with it?’,”
said Jennison. She also criticised the program for accepting verbal instructions during the auction and not adhering to the maximum bid amount.
Another Brisbane property recommended for conversion into a private retreat raised red flags as there was no discussion about whether the ceiling was of legal height for such a conversion.
“It’s common knowledge that lots of properties in Brisbane are not legal height underneath,” added Jennison.
However, a representative of Endemol Shine Australia, the production company for Location, Location, Location, defended the program. They stated that the show included licenced buyer’s agents conducting “background work” and due diligence to ensure the best process for its buyers.
“Mitch and Mark worked extensively with our property research team and with the couples to fully understand their brief, budget, and parameters,” the representative added. They emphasised that all negotiations were carefully considered, following extensive research and experience by the team.
These allegations of misleading viewers extend beyond Location, Location, Location. Luxe Listings and The Block have also come under scrutiny. Rich Harvey, a former REBAA president, said Luxe Listings provided a snapshot into the “theatre” of real estate, but warned that some scenarios were staged and homes featured were only for entertainment, not genuinely for sale.
The renovation timelines shown on The Block were also criticised as being unrealistic. Harvey stated,
“They get a lot of help from skilled tradespeople, but they’re not necessarily co-ordinating the tradespeople — which is half the trick of a good renovation.”
He also said the auction process on The Block was contrived and unrealistic.
Frank Valentic, an Advantage Property Consulting buyer’s advocate and show regular, predicted that this season of The Block could result in a potential auction disaster.
Valentic hinted that the 20 Charming St home sold for a suburb record of $3.5m might need to sell for as much as $4.5m to recoup renovation costs and turn a profit, which he believes is highly unlikely in Hampton East.
SOURCE: Herald-Sun
Yep it was pretty woeful
Two revolting people who shouldn’t even be hosting this Show