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Changes to advertised prices for properties

Discussion in 'The Buying & Selling Process' started by balwoges, 23rd Nov, 2015.

  1. balwoges

    balwoges Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    184
    Location:
    Lake Macquarie
    In summary the changes mean (from 1/1/16):

    Agents can no longer use ‘offers above’ or ‘offers over’ in any of their marketing
    • Agents must not advertise a price lower than the agents estimated selling price as indicated on the agency agreement – Note this is the agents opinion NOT the vendors opinion
    • Agents can advertise a price range as long as it is within a 10% range for example “Price Range $500,000 to $550,000”
    • The agent can stay silent on the price and not give an indication verbally or in writing
     
  2. Ben_j

    Ben_j Member

    Joined:
    12th Sep, 2015
    Posts:
    12
    Location:
    Sydney
    What's states does this apply to?
     
  3. balwoges

    balwoges Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    184
    Location:
    Lake Macquarie
    I am in NSW, not sure about other states.