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THE days of “quote it low, watch it go” for real estate agents are over, with new anti-underquoting legislation coming into force on January 1, 2016.
One important change from a buyer’s perspective is that the range of a price guide must be within 10 per cent of what is on a seller’s agreement. This means an agent cannot say a property will sell for $1 million to $1.5 million, for example.Agents will be able to change an estimated selling price based on feedback or changes to economic conditions, but must present evidence to the seller to substantiate the change.
http://www.dailytelegraph.com.au ... bb75287998fa22ffbe9 |
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