Real estate agent

Why auction theory won two American economists a Nobel Memorial Prize

Posted on October 19, 2020 by | 0 Comments
Why auction theory won two American economists a Nobel Memorial Prize. Think of what happens when you bid for a house at an auction. As a bidder you’re going to behave strategically, based on the available information, in competition with other bidders. You’ll take into consideration what you know about the house, but also what you believe other people know about the house. But what’s the best format for an auction? If you had to...

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Believe it or not, property prices are set to rise!

Posted on October 13, 2020 by | 0 Comments
An expert on property and financial markets warns real estate Nervous Nellies that house prices are on the way up, not down! And how would you like to be an expert on auctions, so if you’re a seller, you pocket the best sum possible but if you’re a buyer, you pay the least possible? Auction-loving Aussies will be interested to know that this year’s Nobel Prize for Economics went to two US economists from Stanford...

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Referral Fees – Transparency Could Result In The Demise Of Both Agents And Conveyancers

Posted on September 30, 2019 by | 0 Comments
Over six months ago the National Trading Standards Estate Agency Team revealed new industry guidance to make referral fees more transparent to consumers.[ Failure to disclose referral arrangements may render an estate agent liable for criminal prosecution under the CPRs and/or action by NTSEAT for warning or prohibition under the Estate Agents Act 1979. The government wants referral fees to be transparent and would consider banning the fees if this could not be achieved by...

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Gold Coast agents giving out money, food and coffee to attract sellers and buyers

Posted on October 17, 2016 by | 0 Comments
COMPETITION in the cut-throat real estate market is so intense one Gold Coast agent is giving out $1000 incentives for referrals. Andre Sharples, of Professionals John Henderson Real Estate, has given away $10,000 this year — and hopes to give out more. “It gets me business as I’ve got people out there promoting me to get their $1000,” Mr Sharples said. “Listings are very tight and it’s another way to promote yourself. “It doesn’t affect...

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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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Former real estate agent sentenced to 15 months prison after stealing over $1 million from clients

Posted on September 20, 2014 by | 0 Comments
Former principal of The Strata Agency, Rachael Jena Kwaregen, has been sentenced to 15 months in prison with a non-parole period of nine months after pleading guilty earlier this year to stealing over $1 million from her strata clients. The former Sydney agent headed the strata management company that collected levies from approximately 5,500 property owners across 240 Sydney-based apartment and commercial buildings. Kwaregen had her licence cancelled in late-January and was disqualified from holding...

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Unlicensed real estate agent caught out

Posted on September 20, 2014 by | 0 Comments
An unlicensed Brisbane real estate agent has been ordered to pay over $134,000 in fines and compensation after charges were bought by the Office of Fair Trading (OFT). Ms Alisa Phyllis Davies of Arana Hills pleaded guilty to one count of acting unlicensed as a real estate agent and was fined $6,000. Jenas Realty Pty Ltd, of which Ms Davies was sole director, was found guilty and fined $70,000 for misappropriating trust money and a...

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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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Open slather: what really goes on at inspections

Posted on November 3, 2013 by | 0 Comments
For all the neatly angled flags, shining A-frame notices and freshly-stocked clipboards, the urban warfare of the Sydney open-house inspection has a slyly winking underbelly. Throwing the doors of our most valuable properties open to Joe Public has a way of bringing about the baddest of bad behaviour, from neighbourly sabotage to staged lunacy. Add to that the litany of minor accident booby-traps, alarm debacles and fiendish take-no-prisoners buying strategy, and the Saturday morning house-viewing...

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