Every home buyer faces the dilemma: how much can and want to offer to get that house? In recent years, a so-called bid log provides insight into the winning bid and how much others have bid. But not every bidder was able to see that bidding log last year, according to the Eigen Huis Association (VEH).

Since 2023, the bid log must be used by real estate agents who are affiliated with trade associations such as NVM or Vastgoed Nederland. The logbook states what the winning bid is, what was bid and whether, for example, a financing or structural inspection condition has been included in the bid.

VEH investigated the experiences of home buyers with the logbook and saw that many buyers still experience the bidding process with the bidding logbook as unfair and non-transparent.

“Very often, consumers are told that brokers do not participate or the option is not there at all,” says association director Cindy Kremer.

Raymond was one of those bidders who were not allowed to view the bidding log. He bid on a house where the real estate agent claimed the asking price had already been offered, but when he made his offer he learned from the seller that he was the only one who had made an offer.

“I asked for the bidding log for the first time, but I did not receive it because I was the only bidder who had submitted a bid.”

Mischa was shown his bid log when he asked for it, but then saw that the broker himself had placed a higher bid a few minutes after the bid closed.

“You really have to find out for yourself. If you don’t know, you often don’t get that information,” says Mischa.

He believes that the process with a bidding logbook is more transparent, but he doubts whether it is fairer. “This way, the system is of no use to you. I thought the real estate agent process would be fairer, but it doesn’t feel that way now.”

According to the VEH, the fact that things still often go wrong is due to the fact that there is not yet a legal standard for the bidding logbook. “There is no supervision or control, so you are at the mercy of the broker. You therefore do not know whether the bidding is being done fairly.”

According to one of the trade organizations for real estate agents, Vastgoed Nederland, the use of different systems indeed means that sometimes no bid log is offered.

“We have internal rules that people must adhere to, but not legal ones, because not all broker parties agree with them. As a result, there is no one standard, and we also have permanent members who sometimes do not adhere to the rules, because they are not there,” says Tristan Bons of Vastgoed Nederland.

The organization would therefore like to see these rules introduced. “With a system other than ours, the broker can still turn too many buttons. For example, to adjust the bid, or when someone receives the bid log. That is not fair.”

Brokers at the other trade organization, the NVM, must provide their own bidding logbook. Through the bidding system, the bidding log is only visible when the purchase is irrevocable, i.e. after any resolutive conditions have expired.

The NVM recognizes that the time of availability was not always clear. According to the NVM, some buyers do not yet realize that you only receive the bid log afterwards.

Although the bidding log must be used by brokers who are members of a trade association, it has not yet been legally established.

The NVM is not against legal regulation and hopes that a bidding logbook and bidding protocol will contribute to more transparency in the housing market.

The Ministry of Housing has so far kept its hands off legislation. According to the ministry, discussions will soon begin with trade associations and a study is underway into consumers’ experiences with real estate agents.

In addition, Minister Boekholt-O’Sullivan is investigating various regulatory options. This summer she will present the results to the House of Representatives.