{"id":31527,"date":"2021-04-02T14:57:54","date_gmt":"2021-04-02T01:57:54","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=31527"},"modified":"2021-04-02T14:57:54","modified_gmt":"2021-04-02T01:57:54","slug":"22000-fine-crackdown-on-dodgy-real-estate-agents","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/22000-fine-crackdown-on-dodgy-real-estate-agents\/","title":{"rendered":"$22,000 fine: Crackdown on dodgy real estate agents"},"content":{"rendered":"<p><strong>PHOTO: Real Estate Agents. FILE<\/strong><\/p>\n<p>Sydney <a href=\"https:\/\/propertynoise.co.nz\/au\/?s=real+estate+agents&amp;submit=Search\">real estate agents<\/a> who deliberately underquote property prices have been put on notice as Fair Trading takes aim at the practice.<\/p>\n<p>NSW Fair Trading inspectors will attend auctions, open houses and agencies across Sydney to identify agents deliberately low-balling property values, with those caught facing fines of up to $22,000.<\/p>\n<p>They could also lose their commission, and face jail.<\/p>\n<p>Legally, NSW real estate agents need to provide an estimated selling price with evidence, based on how much similar homes in the area have recently sold for. The price can either be one figure, or within a 10 per cent range, however it also needs to be revised during the auction campaign as more information around buyer expectations comes to light.<\/p>\n<p>Better Regulation Minister Keven Anderson said $6,000 worth of fines have already been handed out after Fair Trading inspectors found 14 breaches while inspecting 33 agents.<\/p>\n<p>Fines were also issued for operating without a licence or operating without the right insurance.<\/p>\n<p>And in the year to September 2020, Fair Trading issued nearly $400,000 in fines.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/au.finance.yahoo.com\/news\/underquoting-sydney-fines-real-estate-204729295.html\">YAHOO<\/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=\"Fair Trading to \u2018crack down\u2019 on property underquoting\" href=\"https:\/\/propertynoise.co.nz\/au\/fair-trading-to-crack-down-on-property-underquoting\/\" data-bump-view=\"tp\"><img decoding=\"async\" class=\"widgets-list-layout-blavatar lazyload\" data-src=\"https:\/\/i0.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2021\/04\/auctions.jpg?fit=1024%2C595&amp;ssl=1&amp;resize=40%2C40\" alt=\"Fair Trading to \u2018crack down\u2019 on property underquoting\" width=\"40\" height=\"40\" data-pin-nopin=\"true\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 40px; 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WATCH<\/a><\/div>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Real Estate Agents. FILE Sydney real estate agents who<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/22000-fine-crackdown-on-dodgy-real-estate-agents\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":29320,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478115265,478115246,478099057,478098566,478098519,478098535,478115264,478105309,478098513,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098828,478098509,478098536,478098618,478111041,478115266,478099457],"class_list":["entry","author-data123nz","post-31527","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-better-regulation-minister","tag-dodgy-real-estate-agents","tag-fair-trading","tag-first-home-buyers","tag-home-ownership","tag-house-prices","tag-keven-anderson","tag-nsw-real-estate-agents","tag-property","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-news","tag-sydney","tag-sydney-property","tag-sydney-real-estate-agents","tag-underquote-property-prices","tag-underquoting"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>$22,000 fine: Crackdown on dodgy real estate agents - 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\/22000-fine-crackdown-on-dodgy-real-estate-agents\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$22,000 fine: Crackdown on dodgy real estate agents - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: Real Estate Agents. 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