'Sold By Private Treaty’

Press, Volume CVIII, Issue 31835, 13 November 1968, Page 16

' Sold By Private Treaty ’

The complaint by a correspondent. “ Information “Please”, about a house advertised for sale by auction being sold by private treaty draws attention to a practice which should, and could, be stopped. In his first letter, dated September 17, the correspondent said the advertisement did not include the words “ unless sold by private treaty ”. “ We were assured “ the property would definitely only be sold by public “ auction ”. Commenting on this letter, the president of the Canterbury-Westland branch of the Real Estate Institute of New Zealand (Mr J. L. T. Dyer) said: “Presumably the vendor got a higher offer than “ expected at auction and he was entitled to accept “ it ”.

Replying promptly to Mr Dyer “ Information “Please” then asked: “Why were not we. and “ perhaps others, given an opportunity also of “ tendering an offer for the Peterborough Street “ property instead of being told it is definitely only “ to be sold by public auction ? ” Mr Dyer invited the correspondent to get in touch with him to discuss the matter. Other readers would surely be interested to hear Mr Dyer’s explanation, more interested still to receive an assurance that this practice will no longer be condoned by Mr Dyer’s institute. An institute seeking to build public confidence in the business morality of its members cannot afford to allow this practice to continue.