States grapple with the scourge of underquoting
Underquoting remains a major issue in the real estate industry, prompting the Victorian Government to launch a dedicated taskforce, while other states have issued relatively few, if any, infringements for the widespread practice.
Vast numbers of home buyers continue to be deceived by misleading advertising. (Image source: Shutterstock.com)
The scourge of illegal underquoting continues to waste the time and money of property buyers and the varying levels of action – or inaction – by the states suggests the problem will not be eradicated soon.
An agent is underquoting the selling price of a residential property if they make a statement or publish an advertisement about its price that is less than their reasonable estimate of the property’s likely selling price.
Underquoting laws ar…
