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Calls to overhaul real estate standards in Victoria

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Your Investment Property | 18 Feb 2016, 04:05 AM Agree 0
Real estate agents with insufficient training are putting buyers and sellers in Victoria at risk
  • Miriam Sandkuhler | 18 Feb 2016, 04:41 PM Agree 0
    While there is absolute merit in raising the barriers of entry to the real estate industry, to suggest this is the primary reason behind under quoting is ludicrous.

    After years of declaring the practice was not prevalent, Victorian industry representatives have finally taken a public stand this week on the matter, however the delay has been to the detriment of the industry and ongoing alienation of consumers.
    Deflecting responsibility from long established agents, by blaming new comers to the industry and low barriers to entry is merely a diversionary tactic
    As the saying goes, ‘the fish rots from the head down’ and much of the long established practice of under quoting comes from direct or otherwise tacit approval from long established estate agency principals.

    Unfortunately, these diversionary tactics do nothing to improve the standing of the real estate industry in the eyes of the public. The need for pricing transparency nationally must come ahead of everything else, to eliminate an ingrained mistrust of estate agents by many consumers.

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