by Peter Mericka B.A., LL.B
Real Estate Lawyer
Qualified Practising Conveyancer Victoria
Director Lawyers Real Estate Pty Ltd
There are few things more dangerous for real estate consumers than estate agents who fancy themselves as “wheelers and dealers”. They are usually the ones who cause the wheels to fall off real estate transactions, usually because one party or the other feels that they have been let down. Enzo Raimondo not only acknowledges that estate agents like to do a bit of “wheeling and dealing”, he actually suggests that they are licensed to do so. It seems that silly old Enzo doesn’t know the difference between taking licence and being licensed!
Estate Agents Are NOT Licensed to wheel and deal
Enzo Raimondo is the Chief Executive Officer of the Real Estate Institute of Victoria, and he really should know better when he tells consumers (see “Market Talk” of 1 March, 2008 (The Age – Domain p.3) that estate agents are “licensed to wheel and deal”.
The fact is that estate agents have never been licensed to wheel and deal, assuming of course that “wheeling and dealing” relates to the negotiations associated with finalising a real estate sale. It is simply impossible for an estate agent to have any meaningful role in real estate negotiations, the reason being that the estate agent has a pecuniary interest in the outcome of the negotiations.