{"id":12299,"date":"2018-05-15T11:32:07","date_gmt":"2018-05-14T23:32:07","guid":{"rendered":"http:\/\/propertynoise.co.nz\/au\/?p=12299"},"modified":"2018-05-15T11:32:07","modified_gmt":"2018-05-14T23:32:07","slug":"estate-agents-commissions-under-threat-after-real-estate-institute-of-victoria-blunder","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/estate-agents-commissions-under-threat-after-real-estate-institute-of-victoria-blunder\/","title":{"rendered":"Estate agents&#8217; commissions under threat after Real Estate Institute of Victoria blunder"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><strong>PHOTO:\u00a0With cases\u00a0potentially going back six years, one\u00a0Melbourne estate agent who asked not to be named\u00a0said the claims by vendors could be in the billions.\u00a0<\/strong><\/p>\n<p>Thousands of Victorian estate agents could be forced to pay back\u00a0hundreds of millions of dollars in commissions after they used contractual documents sold\u00a0by the Real Estate Institute of Victoria (REIV) and approved by Consumer Affairs Victoria (CAV) that did not comply with state real estate laws.<\/p>\n<p>The 82-year-old industry\u00a0body, which represents 5000 estate agents in Victoria, had for years sold\u00a0Exclusive Sales Authority (ESA)\u00a0forms \u2013\u00a0a legally binding\u00a0contract giving the agent the authority to sell a vendor\u2019s home and be paid commission and any other outgoings such as marketing and advertising costs.<\/p>\n<p>&nbsp;<\/p>\n<div dir=\"ltr\"><a href=\"http:\/\/eepurl.com\/b-0d_f\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?hl=en&amp;q=http:\/\/eepurl.com\/b-0d_f&amp;source=gmail&amp;ust=1526416396694000&amp;usg=AFQjCNET07-C0Q1YqvtviN2JHS6u4JkzBA\"><strong>GET INFORMED: RECEIVE OUR FREE E-NEWSLETTER 1 X A WEEK PLUS OTHER PROMOTIONS<\/strong>\u00a0<\/a><\/div>\n<p><img decoding=\"async\" class=\"m_3949921777842703390m_8619695832840558670gmail-m_379205851487838446m_5297141619173921201m_-7960824154639648718m_-1442327415991573044m_6210284689008423497m_-9019625617405570924m_-3120310885444461790m_-1631026384127715702gmail-alignnone m_3949921777842703390m_8619695832840558670gmail-m_379205851487838446m_5297141619173921201m_-7960824154639648718m_-1442327415991573044m_6210284689008423497m_-9019625617405570924m_-3120310885444461790m_-1631026384127715702gmail-size-medium m_3949921777842703390m_8619695832840558670gmail-m_379205851487838446m_5297141619173921201m_-7960824154639648718m_-1442327415991573044m_6210284689008423497m_-9019625617405570924m_-3120310885444461790m_-1631026384127715702gmail-wp-image-11652 lazyload\" data-src=\"https:\/\/ci6.googleusercontent.com\/proxy\/WpAReivVquAA_cFrz8bdYOMODU2X7mvYJReQDkIl5vRVuoDVK363uFownlGIsimRH6EjG6RUY56q3pmzxI25HAotH6j43-lpU8kWRe0A4LE4l4xyWoV_lbiSYVlJdYbosqE=s0-d-e1-ft#http:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2018\/03\/ENEWS-300x160.png\" alt=\"\" width=\"300\" height=\"160\" data-srcset=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2018\/03\/ENEWS-300x160.png 300w, https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2018\/03\/ENEWS-465x248.png 465w, https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2018\/03\/ENEWS.png 500w\" data-sizes=\"(max-width: 300px) 100vw, 300px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 300px; --smush-placeholder-aspect-ratio: 300\/160;\" \/><\/p>\n<div><\/div>\n<div>READ MORE VIA <a href=\"https:\/\/canadanewsmedia.ca\/2018\/05\/14\/estate-agents-commissions-under-threat-after-real-estate-institute-of-victoria-blunder\/\">CANADA NEWS MEDIA<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; PHOTO:\u00a0With cases\u00a0potentially going back six years, one\u00a0Melbourne estate agent<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/estate-agents-commissions-under-threat-after-real-estate-institute-of-victoria-blunder\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":12300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478099376,478098513,478098579,478098510,478098514,478098511,478098705,478098533,478099418,478098921,478098509,478098532,478099419,478098677],"class_list":["entry","author-data123nz","post-12299","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-estate-agents","tag-property","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-commissions","tag-real-estate-franchise","tag-real-estate-news","tag-realtor","tag-reiv","tag-victoria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Estate agents&#039; commissions under threat after Real Estate Institute of Victoria blunder - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/estate-agents-commissions-under-threat-after-real-estate-institute-of-victoria-blunder\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Estate agents&#039; commissions under threat after Real Estate Institute of Victoria blunder - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"&nbsp; PHOTO:\u00a0With cases\u00a0potentially going back six years, one\u00a0Melbourne estate agentRead More &rarr;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/propertynoise.co.nz\/au\/estate-agents-commissions-under-threat-after-real-estate-institute-of-victoria-blunder\/\" \/>\n<meta property=\"og:site_name\" content=\"Property News Australia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PropertyNoiseNZ\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-14T23:32:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i2.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2018\/05\/With-cases-potentially-going-back-six-years-one-Melbourne-estate-agent-who-asked-not-to-be-named-said-the-claims-by-vendors-could-be-in-the-billions..jpg?fit=620%2C364&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"620\" \/>\n\t<meta property=\"og:image:height\" content=\"364\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Property Noise Group\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@propertynoisenz\" \/>\n<meta name=\"twitter:site\" content=\"@propertynoisenz\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Property Noise Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/estate-agents-commissions-under-threat-after-real-estate-institute-of-victoria-blunder\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/estate-agents-commissions-under-threat-after-real-estate-institute-of-victoria-blunder\\\/\"},\"author\":{\"name\":\"Property Noise Group\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/#\\\/schema\\\/person\\\/175c8981af50e593000aa8ad7aab9d84\"},\"headline\":\"Estate agents&#8217; 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