{"id":31506,"date":"2021-04-01T08:30:37","date_gmt":"2021-03-31T19:30:37","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=31506"},"modified":"2021-04-01T08:30:37","modified_gmt":"2021-03-31T19:30:37","slug":"fair-trading-to-crack-down-on-property-underquoting","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/fair-trading-to-crack-down-on-property-underquoting\/","title":{"rendered":"Fair Trading to \u2018crack down\u2019 on property underquoting"},"content":{"rendered":"<p><strong>PHOTO: Fair Trading inspectors will visit real estate agencies, auctions and open homes. Photo: Peter Rae<\/strong><\/p>\n<p class=\"first-para\">Dodgy <a href=\"https:\/\/propertynoise.co.nz\/au\/?s=real+estate+agents&amp;submit=Search\">real estate agents<\/a> have been put on notice, with Fair Trading inspectors hitting the ground to crack down on property underquoting.<\/p>\n<p>Sydney real estate agents were issued with almost $21,500 in fines for breaches of the property act last week, in the lead-up to last Saturday\u2019s bumper auction day when more than 1200 homes were scheduled to go under the hammer.<\/p>\n<p>Inspectors identified 47 breaches of the\u00a0Property Stock and Business Agents Act while inspecting 38 sales agents over the five-day compliance program, which ended ahead of the Super Saturday of auctions, the Sydney property market\u2019s\u00a0biggest auction day ever.<\/p>\n<p>Fourteen penalty infringement notices totalling $21,450 were issued, but it\u2019s unclear how many agents were fined and how many breaches related to <a href=\"https:\/\/propertynoise.co.nz\/au\/?s=underquoting&amp;submit=Search\">underquoting<\/a>.<\/p>\n<p>Minister for Better Regulation Kevin Anderson announced on Wednesday that teams of inspectors would be focusing on the illegal practice of falsely advertising property or indicating they will sell for less than the estimated selling price.<\/p>\n<p>Buyers have been left increasingly frustrated in Sydney\u2019s rising property market, as advertised price guides are routinely being outpaced by sale prices, with many Sydney buyers\u00a0automatically now adding at least 20 per cent to a quoted price.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.domain.com.au\/news\/fair-trading-to-crack-down-on-property-underquoting-1040698\/\">DOMAIN<\/a><\/p>\n<h3 class=\"widget-title\"><span class=\"accent-typo\">MOST POPULAR<\/span><\/h3>\n<ul class=\"widgets-list-layout no-grav\">\n<li><a class=\"bump-view\" title=\"Realtor claims former staff took client info for rival\" 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&rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":31507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098730,478098512,478098521,478115246,478115247,478098519,478098535,478114499,478098513,478098579,478098510,478115248,478115245,478098514,478098511,478098705,478098533,478098828,478098921,478098509,478098536,478098618,478111041,478099457],"class_list":["entry","author-data123nz","post-31506","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-auctions","tag-australia","tag-australians","tag-dodgy-real-estate-agents","tag-fair-trading-inspectors","tag-home-ownership","tag-house-prices","tag-kevin-anderson","tag-property","tag-property-market","tag-property-news","tag-property-stock-and-business-agents-act","tag-property-underquoting","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-franchise","tag-real-estate-news","tag-sydney","tag-sydney-property","tag-sydney-real-estate-agents","tag-underquoting"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fair Trading to \u2018crack down\u2019 on property underquoting - 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\/fair-trading-to-crack-down-on-property-underquoting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fair Trading to \u2018crack down\u2019 on property underquoting - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: Fair Trading inspectors will visit real estate agencies, auctionsRead More &rarr;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/propertynoise.co.nz\/au\/fair-trading-to-crack-down-on-property-underquoting\/\" \/>\n<meta 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