New Price Quoting for Residential Homes
By Zeno Kobica
02-05-2017 |
Selling
From 1st May new price quoting legislation has come into force in Victoria for all residential home sales. This affects all home-owners planning to list their property - each property now must have an indicative selling price clearly shown along with other changes (see below)… no more grey area on price quotes, from cheap student accommodation apartments in Carlton through to multi-million dollar Toorak mansions - all must now include a selling price via an official "Statement of Information" document!
The real estate sales landscape is in for a change in Melbourne as buyers and sellers come to terms with this new process and all the extra documentation that agents now must include when marketing a home.
Interestingly, this new legislation only applies to registered Real Estate Agents. What about unregistered home sellers? The legislation is meant to even the playing field and help buyers across the board yet there are still some loopholes in the system.
Full details here: https://www.reiv.com.au/news/policy-issues/price-quoting-changes
