Consumer Alert - Consumer Affairs Victoria

Victorian election real estate dramas: Underquoting and “election stunts”

Posted on November 26, 2014 by | 0 Comments
An article by Jennifer Duke “In Victoria underquoting is endemic, rampant, it’s grubby, it’s misleading and deceptive and it’s a fraud on home buyers,” explained Rowe. “Consumer Affairs Victoria lacks the necessary laws and resources to police underquoting. Real estate agents enjoy the luxury of loop holes in the rules to bait home buyers into attending auctions which are outside their budget.  This frustrates buyers. Underquoting causes home buyers to waste their time, money and...

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Why ASIC Must Have A Role In Regulating the Housing Market

Posted on December 19, 2013 by | 5 Comments
Summary of points by Industry Training Consultants 17/12/2013 There is a real opportunity for both ASIC and the states to work together in drafting a bill for a Commonwealth Real Estate Advocates Act or Property Professions Act, that gives ASIC additional powers to prosecute in other areas such as a “Mortgage Broker” who performs buyer agent activities unlicensed. The benefits of national licensing are not achievable until conduct harmonisation is addressed by a Commonwealth government...

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Deceptive property spruiker

Posted on October 5, 2013 by | 0 Comments
Investors are losing their life savings after taking advice from a property spruiker, who claims there’s fortune to be made in real estate. Paul Giezekamp, a smooth talking property spruiker, has been travelling the country selling a dream through pop-up stands at property expo’s. In his seminars Giezekamp claims that he has up to 24 properties, with $11 million in assets. Giezekamp is the founder of Property Secrets, a company which angry investors claim have...

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