BC firm says home auctions provide better transparency

A British Columbia real estate firm is hoping to persuade the market that home auctions offer better transparency.

Harcourts Canada will hold its first auction on March 2 and wants to dispel the image of distressed sales and foreclosures by putting transparency at the heart of its operations.

"It's got to be really crystal clear and there's got to be a lot of support and information,” CEO Harden Duncan told the CBC.

Although auctions are not seen frequently in Canada, they are a key part of the real estate market in Australia and New Zealand.

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