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Vic agencies raided for underquoting

Agent Select / Property News / Vic agencies raided for underquoting

Victorian property agencies suspected of underquoting are being targeted by property watchdogs.

Six agencies have been raided as part of a statewide blitz to curb unethical pricing behaviour.

Consumer Affairs Victoria has also issued statutory notices demanding paperwork proving no unethical behaviour has occurred.

Consumer Affairs Victoria inspectors have been directed to check 200 auctions in 2015-16 and they've so far inspected 340 files after checking 100 auctions.

'We know this is a problem and it can be heartbreaking for potential buyers who are lured in by these tactics,' Consumer Affairs Minister Jane Garrett said in a statement on Sunday.

'Last year we directed Consumer Affairs to conduct surprise inspections to crack down on underquoting.

'We are halfway through these inspections and the results will be used to inform any changes that are needed.

'This is about transparency and giving home buyers a fair go.'

 

- See more at: http://www.skynews.com.au/business/property/2016/01/11/vic-agencies-raided-for-underquoting.html#sthash.HDfX1Joo.dpuf

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