Search Results for: George Rousos

The other factor behind our skyrocketing prices

Posted on October 14, 2014 by | 2 Comments
Apart from loose monetary policies, such as negative gearing, real estate by self-managed super fund (SMSF) and foreign investment, excessive increases in house prices is also caused by the unreliable estimates of fair market value price. To explain in more detail, real estate sales data has its flaws due to settlement prices not being triggered from actual pre-sale valuations – which remain unchecked throughout the sale process. Furthermore, some results can be triggered from listing prices...

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Some Conclusions and Recommendations to Address the Market Price Manipulation Strategies Which Affect Real Estate Negotiations

Posted on November 17, 2013 by | 7 Comments
Author: George Rousos of Industry Training Consultants Some of the activities and practices of the real estate industry, that might be questioned in ethical terms are about the potential to distort pricing information in a market in which it is already very difficult to obtain relevant and dependable information. The pricing information is distorted because some of the conditions associated with the definition of market value have been manipulated, particularly the concept of the arm’s length transaction...

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At Last A Brutally Honest Account of One Failed Auction

Posted on November 12, 2013 by | 3 Comments
While all property auctioneers, the vast majority of real estate agents and most newspaper property reporters sing the praises and extol the virtues of auctions for buyers and sellers alike, there are a few of us out here in real estate and conveyancing land who have our doubts. Fellow consumer advocate Neil Jenman has long argued that auctions get lower prices. Real estate trainer Gary Pittard recently demonstrated how it is impossible to guarantee the...

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How Both Contract Law and Consumer Law Are Derailing the Real Estate Auction System

Posted on September 10, 2013 by | 0 Comments
By George Rousos Director Industry Training Consultants P: (02) 49 436110 F: (02) 49 436110 M: 0416 297197 e: george@itc.nsw.edu.au Back in 2010 we received an enquiry about the real estate auction method in NSW and the sharp, deceptive practices that are sometimes used to enforce a contract. A consumer buyer, whom we spoke to, believed they were induced to enter into a contract at auction by misleading and deceptive conduct and was considering a civil...

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Silence Is Not Golden In Real Estate Negotiations

Posted on June 22, 2011 by | 4 Comments
by George Rousos Director Industry Training Consultants george@itc.nsw.edu.au   Franois-Marie Arouet, better known by the pen name Voltaire, was a French writer and philosopher famous for his wit and for his advocacy of civil liberties, including freedom of religion and free trade. One of Voltaire’s famous sayings was, and I quote:   “We must distinguish between speaking to deceive and being silent to be reserved.” “We must distinguish between speaking to deceive and being silent...

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Call For Urgent Change

Posted on August 21, 2009 by | 1 Comment
OPINIONby George RousosDirectorIndustry Training Consultantsgeorge@itc.nsw.edu.au   After receiving glowing support from my clients and colleagues, it was now time to take decisive action by requesting to the NSW Minister- The Hon. Virginia JUDGE, BEd MP that urgent amendments to real estate laws in NSW be introduced in parliament. What follows is my letter to the Minister, written after my reading of the following article which appeared in the Sydney Morning Herald: Watchdog raids real estate...

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Why the “cooling off laws” don’t prevent gazumping !

Posted on August 1, 2009 by | 2 Comments
              by George Rousos Director Industry Training Consultants george@itc.nsw.edu.au Statutory authorities must start exercising the same degree of care towards sellers as they do with buyers of properties. It was discovered and found on the NSW Office Of Fair Trading’s website, no cooling-off period  applies to sellers of properties once contracts have been exchanged, sellers are generally bound to complete the agreement. (See the article “Sale Contracts” on the website of the...

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Wrong Advice From NSW Office Of Fair Trading

Posted on July 21, 2009 by | 10 Comments
by George Rousos Director Industry Training Consultants george@itc.nsw.edu.au Applications for an ex gratia payment will be quite common in the future, unless the NSW Office Of Fair Trading start looking closely at the relevant provisions of the NSW Property Stock & Business Agents Act 2002. An ex gratia payment is made in the exercise of the prerogative power of Government. A payment may be made if a person has suffered a financial loss or other detriment directly as...

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