Real estate mogul defends 'out of touch' billboard during housing crisis: 'Cooked'
An Australian property mogul has defended his company’s controversial billboards after they were labelled “out of touch” by Aussies online. The Whitefox ads, which were seen around Perth, advertise the real estate agency with the slogan “making homes more expensive since 2017”.
Whitefox CEO and The Block judge Marty Fox told Yahoo Finance he stood by the advertisement. He said it was the job of real estate agents to get as much as possible for people selling their homes.
“Think about it, if you are selling your house would you like to sell it for below market value? I don’t think so. You want it to be as expensive as possible right?” Fox said.
“We are engaged to sell properties for our clients. Our job is to get them as much money as possible and we do this through great marketing and competence in the negotiation. Alternatively via a public auction.”
RELATED
-
Tradie turned $60m landlord hits back after boat party controversy: 'Don't understand'
-
American tourist's $1,276 shock while visiting Australia: 'Felt illegal'
-
Entry-level FIFO job paying up to $150,000 expected to boom in 2025: 'Get this job'
Fox said homeowners were being hit by the high cost of living and not all sellers were selling their properties to make a profit.
“It’s not always roses in real estate and vendors cashing in,” he said.
“What about the families that need to sell due to an unforeseen marriage break up or horrible medical diagnoses? These clients of ours need every dollar possible and it happens regularly.”
Do you have a story to share? Contact tamika.seeto@yahooinc.com
The Reserve Bank of Australia (RBA) has kept the cash rate at its decade-high of 4.35 per cent for more than a year now.
A poll of thousands of Yahoo Finance readers found a worrying 23 per cent of people would be forced to sell their homes if there isn’t a rate cut in February.
Fox, who has done more than $40 million in flips, said it was Whitefox’s duty to help clients “who are also battling inflation and the cost of living get as much for their homes as possible”.
“The real issue here is the cost of living. That’s what’s out of touch and making it hard,” Fox told Yahoo Finance.
“Banks, supermarkets, governments imposing taxes that make no sense to hard-working Aussies.
“So, if you’re a home seller and you see this billboard, it’s actually exactly what you want.”
Billboard angers Aussies: ‘Outraged’
The Whitefox billboard sparked backlash after being shared on social media by Aussies.
Some were critical of the slogan, labelling it “out of touch” given the current housing affordability crisis.
