Brokers start with a log that should make the bidding process transparent


NOS NewsTuesday, 13:25

Brokers can use a bidding log from 1 July. The sector organizations NVM, VBO and Vastgoedpro have mutually agreed on this. This log must contain information about when and how much was bid on a home, what any reservations were made, such as a reservation of financing, and the desired time of the key transfer.

The logbook should make the process of selling houses more transparent. There have been many complaints about this in recent years, including at Vereniging Eigen Huis. In two months’ time, the association received 600 reports from buyers and sellers who feel disadvantaged when looking for, buying or selling a home.

Afterwards and no names

Candidate buyers can only view the logbook afterwards, after the expiry of the reflection period and any resolutive conditions of the winning bid. And for privacy reasons, it doesn’t say who bid. From January 1, 2023, the use of a bidding log will be mandatory at these brokerage associations, to which the vast majority of all brokers are affiliated.

The brokers come with this log after a call from the then Minister of the Interior Ollongren at the end of last year. He then demanded the arrival of such a log. “In this way, the room for not acting with integrity disappears and everyone knows how the bidding went,” she said. If the industry were not fast enough, new regulations would be introduced to make a logbook mandatory. The new cabinet still wants to make a bidding log mandatory by law.