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05.04.17

New laws targeting underquoting by estate agents

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From 1 May 2017, estate agents and agents’ representatives (together, agents) will be subject to stricter laws against underquoting in the sale of residential property under recent amendments to the Estate Agents Act 1980 (Vic) (Act).  The Act imposes tough penalties on agents who mislead prospective purchasers about the likely selling price of a property.

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