Catch 24 On Agents' Contracts

by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Since 1st July 2007, Queensland estate agents and their employees have been breaking a law with a maximum penalty for breach of $22,500 or two years imprisonment. On that date the rules relating to real estate contracts changed utterly when agents right to prepare contracts was suddenly and severely limited. Since then anyone in real estate who made sales, leased properties or explained a document or clause would...(read more)

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[Source: Australian Real Estate Blog]

Watch Out When Your Agent Wants To Buy Your Property

by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au A seller has achieved, without legal representation, a spectacular win in Queenslands Commercial & Consumer Tribunal. A suburban real estate agency and one of its registered salespersons were held liable for his financial loss of $59,067.50 after an agency saleswoman and her husband bought his matrimonial home before reselling it at a higher price. Less than a day after this home was listed for sale the agencys...(read more)

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[Source: Australian Real Estate Blog]

Dodgy Property Data

by Terry Ryder Real Estate Journalist Consumer Advocate Confusion reigns as industry rains dodgy data. It's not a new problem but it seems to be getting worse. The muddle of conflicting statistics constantly churned out by the property industry is making it almost impossible for anyone to pinpoint which markets are doing well and which are not. Here's an example. What is the median house price is Perth at the moment and where does it sit in relation to Melbourne's and Sydney's? According to the RP...(read more)

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[Source: Australian Real Estate Blog]

Buying Sale Lists - Is This Where We're Headed?

by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd I received this email from a reader over the weekend: "Best of luck in tackling the deceits of the REIV and thanks for the blog site on Melbourne real estate. I think most sellers are too timid to try any alternative method of selling their homes and are completely under the control of the RE agents. I have about the same regard for RE agents as my local used car dealers and...(read more)

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[Source: Australian Real Estate Blog]

Agent Shafted by Deputy Watchdog

by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au The following tale was sent to me by a legal colleague. He described it as a little anecdote that he was sure I would enjoy. "My client owned a rental property that he leased through a local agent. The tenant wanted to purchase the property. They negotiated a price and my client then asked the tenant to speak to the managing agent about the matter. The agent promptly drew up a sale contract (they are usually very...(read more)

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[Source: Australian Real Estate Blog]

Internet Search Led to Termination

by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Consumer advocate Neil Jenman has long used his website to alert real estate consumers, particularly first time property investors, to real estate scams and scammers. He fearlessly names individuals and companies he believes are acting dishonestly and deceptively. Some property investors, who have dealt to their detriment with those exposed by Mr Jenman, come across his frank revelations only afterwards. Lucy Young,...(read more)

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[Source: Australian Real Estate Blog]