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Changes to Victorian price quoting

Discussion in 'The Buying & Selling Process' started by Lisa Parker- Buyers Agent, 4th Mar, 2016.

  1. Lisa Parker- Buyers Agent

    Lisa Parker- Buyers Agent Well-Known Member Business Member

    Joined:
    24th Jun, 2015
    Posts:
    258
    Location:
    Melbourne
    see below for changes in how selling agents must quote prices for Melbourne real estate

    [​IMG]
    The Government has today announced changes to legislation related to price quoting.

    The changes include:
    -Delivery of a new fact sheet for buyers, which will include recent comparable sales for a property, the median price for the suburb and the agent's estimated selling price
    -The revision of the property's estimated selling price - when an offer is received in writing, that is higher than the current advertised or estimated price
    -No 'offers over' or 'price-plus' advertising to buyers - with the selling price provided as either a single price, or a price range (which must fall within 10 per cent of the upper and lower end).

    The REIV will be providing more detailed information on these changes in coming weeks