Hocking Stuart, Yarraville, and O’Brien, Croydon, admit to underquoting Melbourne homes
Consumer Affairs Victoria (CAV) have caught two more real estate agencies with solid evidence of Underquoting. By accepting that they have been caught red handed, these two agencies have avoided an actual court prosecution and will instead be issued with a $45,000 fine and an enforceable undertaking that will be monitored by CAV.
Whilst last week’s post copped flak from fellow agents for “poor form” in crticising this practice, as the Acting Minister for Consumer Affairs, Lisa Neville noted, “Underquoting is not a smart business tactic, it’s illegal”.
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