text: The "blind bidding" is a feature of the market here that is as bad as "gazumping" is in the UK property market.    Gazumping is so bad that it actually is a word that means "to swindle". 
  
  The practice of massively overshooting the list price on the first bid (by 20% or more) happens so much at the moment it's suspicious.   For example, does that so-so semi down the street in a catchment with so-so schools really warrant $220k over the asking price of $799k?
  
  I also have been hearing of stampedes of people attending open houses and have to wonder if all are really interested in the housing market, or are there some people being paid (or otherwise incented) to create "traffic" and make people increase the amount they bid.   Some of the open house attendance numbers I've heard are so high they are ridiculous.   They aren't credible given how often there are on-line viewing options now.