by Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au Since 1st July 2007, Queensland estate agents and their employees have been breaking a law with a maximum penalty for breach of $22,500 or two years imprisonment. On that date the rules relating to real estate contracts changed utterly when agents’ right to prepare contracts was suddenly and severely limited. Since then anyone in real estate who made sales, leased properties or explained a document or clause...
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by Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au A seller has achieved, without legal representation, a spectacular win in Queensland’s Commercial & Consumer Tribunal. A suburban real estate agency and one of its registered salespersons were held liable for his financial loss of $59,067.50 after an agency saleswoman and her husband bought his matrimonial home before reselling it at a higher price. Less than a day after this home was listed for sale the...
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by Terry RyderReal Estate JournalistConsumer Advocate Confusion reigns as industry rains dodgy data. It’s not a new problem but it seems to be getting worse. The muddle of conflicting statistics constantly churned out by the property industry is making it almost impossible for anyone to pinpoint which markets are doing well and which are not.Here’s an example. What is the median house price is Perth at the moment and where does it sit in relation...
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by Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au Would you believe that a real estate advertisement in the Gold Coast Bulletin saved a Melbourne couple’s bacon? John and Robyn Christiansen of Hampton, Victoria were fully telemarketed, flown-up, conditioned and stitched up Deep North property investors until they read the advert on their flight home from Queensland. The cooling-off provisions of Queensland’s Property Agents and Motor Dealers Act enabled them to opt out of a Gold...
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by Peter Mericka B.A., LL.BReal Estate Lawyer Qualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd I received this email from a reader over the weekend: “Best of luck in tackling the deceits of the REIV and thanks for the blog site on Melbourne real estate. I think most sellers are too timid to try any alternative method of selling their homes and are completely under the control of the RE agents. I have...
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by Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au The following tale was sent to me by a legal colleague. He described it as “a little anecdote” that he was sure I would enjoy. “My client owned a rental property that he leased through a local agent. The tenant wanted to purchase the property. They negotiated a price and my client then asked the tenant to speak to the managing agent about the matter. The agent...
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by Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au Consumer advocate Neil Jenman has long used his website to alert real estate consumers, particularly first time property investors, to real estate scams and scammers. He fearlessly names individuals and companies he believes are acting dishonestly and deceptively. Some property investors, who have dealt to their detriment with those exposed by Mr Jenman, come across his frank revelations only afterwards. Lucy Young, of Ringwood North, Victoria, was...
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