Hocking Stuart Richmond Fined $330,000 for Underquoting

Discussion in 'The Buying & Selling Process' started by KateAshmor, 6th Oct, 2016.

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  1. TMNT

    TMNT Well-Known Member

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    TMNT, 2nd Dec, 2016
    #21
    Scott No Mates and Perthguy like this.
  2. TMNT

    TMNT Well-Known Member

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    Just saw in the news that Doncaster office has been either targeted or investigated

    Good riddance

    They were pretty bad too

    Properties selling for 850k advertised as 650+

    But I think every agent was doing that
     
    TMNT, 20th Dec, 2016
    #22
  3. Big Will

    Big Will Well-Known Member

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    It wasn't hard for the ACCC to see who was bad at under quoting.

    RealAs did it a summary each month for them to review if they could be bothered to monitor this.

    They used to name and shame the actual REA office but now appears they have changed to suburbs.

    Inaccurate Real Estate Agents Bottom 10

    Not sure if this is because the REA didn't like it or if it was feedback from users saying they are more concerned about suburbs rather than agents.
     
    Big Will, 20th Dec, 2016
    #23
  4. TMNT

    TMNT Well-Known Member

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    TMNT, 12th Jan, 2017
    #24
  5. TMNT

    TMNT Well-Known Member

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    TMNT, 9th Jul, 2017
    #25
  6. House

    House Well-Known Member

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    Barry Plant Glenroy and JRW Property International.

    Under-quoting: Barry Plant Glenroy, JRW Property International fined for misleading buyers

    Looking for a PPoR with my partner and were drawn to a decent house advertised for $750k but was told vendor is really looking for $780k-$800k. So put in offer of $760k and despite being the highest offer after 3 open homes in 3 weeks, the ad dropped the 'offers invited' price from $750k to $720k o_O
     
    House, 9th Jul, 2017
    #26
  7. TMNT

    TMNT Well-Known Member

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    TMNT, 15th Dec, 2017
    #27
    Perthguy likes this.
  8. D.T.

    D.T. Specialist Property Manager Business Member

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    D.T., 15th Dec, 2017
    #28
  9. abbyfresh

    abbyfresh Well-Known Member

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    abbyfresh, 15th Dec, 2017
    #29
  10. TMNT

    TMNT Well-Known Member

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    A Doncaster homeowner agreed to sell for $810,000, the property was then advertised for $790,000, before selling at auction for $1.01 million

    I don't understand this bit. If the home owner agreed to a price. Why didn't it sell
     
    TMNT, 15th Dec, 2017
    #30
  11. wylie

    wylie Moderator Staff Member

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    Maybe owner agreed to a reserve of $810k?
     
    wylie, 15th Dec, 2017
    #31
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