Estate Agents Revolt Against Toothless Tiger

by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd It's not often that I have to agree with the Real Estate Institute of Victoria (REIV), but they have a point when they question the competence and resolve of Consumer Affairs Victoria (CAV). In an article titled "Real estate agents revolt over underquoting" (The Age 22 November, 2007) Ben Schneiders observes: "Victoria's real estate industry has moved to defy state regulators...(read more)

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[Source: Australian Real Estate Blog]

Who Will Pay The (Legal) Ferrymen?

by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Below are comments I have received independently from a couple of legal colleagues. They are clearly quite concerned about the costs consequences of conveyancing solicitors, rather than real estate agents, preparing sales contracts. The first comment (slightly edited) comes from a North Queensland practitioner. The second (also edited a tad) is from a Brisbane suburban solicitor. COALFACE CONCERNS I enjoy your...(read more)

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[Source: Australian Real Estate Blog]

On the Shop Again...For Another Property Agent!

By Emma Nejad ASTORB Pty Ltd admin@astorb.com.au Being on the front line working for ASTORB Ive literally heard thousands of sad stories from our clients in relation to poor property management. Ive battled constantly in my mind how investors could put up with such bad practices from property agents and real estate agencies who they pay to look after their affairs for them. I realize being in another state so far from their investment is difficult and I sympathise. Over the years some of the stories...(read more)

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[Source: Australian Real Estate Blog]

A Reward For Your Good Word

by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au The letter below recently came to me in the mail from a nearby estate agency. This agency happens to be part of a national real estate franchise which proudly boasts offices throughout Australia, New Zealand and Asia-Pacific. Needless to say, I am certainly not a client (valued or otherwise), nor any sort of friend of this agency. Just like many unsolicited offers, which constantly bombard us all, this letter...(read more)

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[Source: Australian Real Estate Blog]

Ho-Hum Body Corporates Up For An Overhaul

by Shannyn Hunter Conveyancer shannyn@lawyersconveyancing.com.au Lawyers Conveyancing The mundane life of large body corporates will be shaken up at the start of next year when the Owners Corporations Act 2006 takes effect. As reported by Wendy Mason in the Herald Sun they will be called Owners Corporations (OCs). The idea is to move away from the ad hoc approach to building maintenance, and prevent lot owners being slugged with considerable levies when maintenance work is needed. Masons article...(read more)

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[Source: Australian Real Estate Blog]

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]