HomeSearch Allows Shill Bidding Up to Reserve Price on Real Estate Auctions
HomeSearch is an online auction site for real estate. I hadn’t heard of them until recently when a member of my family was shown a house that was listed on their platform. Out of curiosity, I had a read through their event agreement and I came across something that I thought was odd.
They allow the auctioneer, who represents the seller of the real estate, to bid up the auction on behalf of the seller, until the reserve price is met. In many circles, this would be known as shill bidding.