Underquoting... NSW Fair Trading is watching

Learn about Supervision Guidelines here:
https://acop.edu.au/supervision-guide...

NSW has had legislation regulating the issue of underquoting since January 2016. NSW Fair Trading are currently investigating complaints from consumers and also watching the practices of agents in relation to underquoting. Whilst we have a very “moving” market at the moment, it is more difficult for agents to accurately give an opinion of price on a property. This is where it is so important to adhere to the guidelines in terms of maintaining records of people with whom you have discussed price, and also in making amendments to your opinion of price (and therefore to your marketing) if the market is showing that there is a disparity between your initial opinion of price and what prospective purchasers are saying about the property.

Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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