The Federal Court this morning fined Hocking Stuart Richmond (VIC) $330,000 for 11 instances of underquoting. Here's the news report from Domain. Yes, underquoting is very annoying and wastes many potential buyers' time. But in a strong property market, bargains are rare. If a property seems cheap, there is probably something wrong with it. Never buy a property without getting legal advice about the contract and vendor statement first. I see all sorts of hidden problems that buyers would not pick up without legal advice, such as illegally constructed extensions.