Lawyers Real Estate is a law firm that sells real estate for its clients without involving any real estate agents. To make the selling and buying of real estate quick, simple and transparent, the SLOD! real estate bidding facility has been established. In this series of postings we will be examining SLOD! in detail, explaining how it works why it is the best and fairest way to negotiate real estate transactions, and how to use...
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OPINIONby Peter Mericka B.A., LL.BReal Estate LawyerQualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd In his regular propaganda column in the Domain section of The Age newspaper, the CEO of the Real Estate Institute of Victoria (REIV), Enzo Raimondo, pretends to inform consumers about the auction myth. Asking the question, “Is it sold after the hammer falls?” Raimondo casts the question as one relating only to the right of the vendor to sell or...
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by Peter Mericka B.A., LL.BReal Estate LawyerQualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd I was watching “First Tuesday Book Club” on ABC TV a few months ago, and I saw the host, Jennifer Byrne hold up a copy of Brendan Gullifer’s book SOLD. According to Byrne, “I thought it was tremendous fun. And let me tell you, you’ve met these people. They probably sold your house.” Having read SOLD, I can confirm...
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OPINIONby Peter Mericka B.A., LL.BReal Estate LawyerQualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd It’s time for consumers to get serious about the tricks and criminal conduct associated with real estate auctions. As most of the criminal conduct associated with auctions takes place when the auction is in progress, the logical solution is to make a record of the proceedings. The video recording of every real estate auction would greatly assist in keeping...
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OPINIONby David MorrellReal Estate Buyers’ AdvocateDirector Morrell & Koren Right now the real estate auction system is on the ropes because the market has tanked; but its problems run deeper than that. The elephant in the room is whether the auction system itself is working in vendors’ best interests. The agents make the argument that auctions work because they bring buyers and sellers together at a known time and place and that they...
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Opinion by Neil Jenman Consumer Advocate For many years, the Real Estate Institute of Victoria (REIV) has misled and deceived real estate consumers. Whether it be trying to justify (or deny) dodgy practices such as false price quoting or whether it’s brushing-aside common claims of widespread dishonesty, as far as real estate bodies go, they don’t come much dodgier than Victoria’s Real Estate Institute (REIV). The institute is headed-up by Enzo Raimondo (who...
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OPINIONby Peter Mericka B.A., LL.BReal Estate LawyerQualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd Estate agents have a marvelous talent for redefining words so that their everyday meaning is distorted to the point that they become oxymorons. The use of the word “transparent” by Real Estate Institute of Victoria CEO Enzo Raimondo suggests that the transparent “window” offered to consumers is really a two-way mirror. We have previous demonstrated the way in which...
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by Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au Walk away to bid another day – but not before the auction is over. Picture yourself as a duly registered, cashed-up bidder at the auction of a seaside mansion. Bidding starts at $6.5 million. You join in as bidding progresses to $7.5 million. Then the auctioneer announces that the property is “on the market” – meaning that the reserve price has been reached and any higher bid will,...
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by Peter Mericka B.A., LL.BReal Estate LawyerQualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd The Real Estate Institute of Victoria (REIV) has been forced to come clean, and to admit to consumers that “…no binding contract exists until the successful bidder and the vendor have signed a contract.” A proposed addition to the legislation governing the conduct of real estate auctions represents one more nail in the auction coffin. In his weekly propaganda...
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by Peter Mericka B.A., LL.B Real Estate Lawyer and Qualified Practising Conveyancer Victoria Lawyers Real Estate Most real estate consumers are aware that real estate contracts are biased heavily in favour of the vendor, and contain a minefield of terms and conditions. But very few realise that some contracts contain “booby traps” that can do serious damage to BOTH parties! First, we refer readers to our last posting about auction bullying. The auction is an...
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