Contract Note Banned! Estate Agents Lose Deception Tool

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd The document known in the real estate industry as the standard REIV Contract Note has been banned. As from 28 September, 2008 the only document available to estate agents will be the standard form of contract prescribed by the Estate Agents (Contracts) Regulations 2008 or a contract prepared by a Legal Practitioner or a Licensed Conveyancer. Contract Note A Deceptive...(read more)

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[Source: Australian Real Estate Blog]

Beware of Agents' Pet Building Inspectors!

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au When will governments put in place stronger legislative measures to protect real estate consumers not only from self-serving real estate agents, but also from their own trusting natures? The story below from a school teacher client of mine, whilst ending happily, gives ample reason for a long-overdue legal prohibition on agents referring buyers to building inspectors, mortgage brokers, solicitors and the...(read more)

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[Source: Australian Real Estate Blog]