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Underquoting quick guide

New underquoting laws commenced on 1 January 2016. Do you understand your obligations? Here’s a quick guide on the top five changes you need to know about.

26/06/2020

26/06/2020 9:50:47 PM18/02/2021 3:17:25 PM

Harsh consequences for underquoting

What the Federal Court decided in a misleading and deceptive conduct case saw an agent charged with underquoting.

06/12/2018

6/12/2018 12:00:00 AM4/08/2020 11:42:29 AM

Agents fined $25,000 after compliance blitz

More than 70% of Northern Beaches real estate agents inspected were fined over $25,000 after a NSW Fair Trading compliance blitz.

09/04/2018

9/04/2018 12:00:00 AM3/08/2020 4:43:25 PM

Avoid underquoting traps

REINSW held a free Member webinar aimed at giving agents a deeper understanding of underquoting.

24/04/2017

24/04/2017 12:00:00 AM26/06/2020 9:00:53 PM

Written instructions offer protection

REINSW has warned agents to protect themselves from the Australian Consumer Law.

27/03/2017

27/03/2017 12:00:00 AM26/06/2020 8:28:45 PM

Underquoting, one year on

Hear from REINSW President John Cunningham on underquoting, one year on.

28/02/2017

28/02/2017 12:00:00 AM26/06/2020 9:47:22 PM

Changes to the underquoting laws

Underquoting and other changes to the PSBA Act begin on 16 December 2016.

16/12/2016

16/12/2016 12:00:00 AM26/06/2020 9:21:17 PM

REINSW submission on consumer law reforms

REINSW has made a submission on the Australian Consumer Law Review.

23/06/2016

23/06/2016 12:00:00 AM26/06/2020 9:04:35 PM

Underquoting audit underway in NSW

NSW Fair Trading has begun a two week underquoting audit of real estate agents in NSW until 18 March 2016.

09/03/2016

9/03/2016 12:00:00 AM3/08/2020 4:17:14 PM

Are you ready for this year’s challenges?

Hear from REINSW's President and CEO about improving education standards and legislation changes.

07/03/2016

7/03/2016 12:00:00 AM26/06/2020 9:41:22 PM

Quoting property prices

There are now a set of new rules about how a real estate agent is allowed to quote a property price.

07/03/2016

7/03/2016 12:00:00 AM26/06/2020 9:18:37 PM

Underquoting briefing boosts confidence on new laws

A highlights video reel of the REINSW latest underquoting session, is available to view.

04/03/2016

4/03/2016 12:00:00 AM3/08/2020 4:20:11 PM

Free form to help you comply with underquoting laws

We have developed a new form to help Members comply with the requirement to notify the seller of a revised estimated selling price.

18/02/2016

18/02/2016 12:00:00 AM26/06/2020 9:10:07 PM

Underquoting laws are live!

The underquoting laws are now effective, are you fully prepared for what the changes mean for you?

11/01/2016

11/01/2016 12:00:00 AM3/08/2020 4:15:44 PM

Educating your clients on new underquoting laws

With underquoting laws now effective, agents should be able to educate their clients on what the changes will mean to them.

04/01/2016

4/01/2016 12:00:00 AM3/08/2020 4:12:11 PM
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Operations superstar

Smart, outgoing and dedicated, Caitlin Ellis, from DiJones Real Estate, is a real estate operations whizz with a love of all things related to technology and innovation.

02/03/2021

2/03/2021 12:00:00 AM2/03/2021 2:11:59 PM

REINSW is lobbying for mandatory RCDs to be rolled out across NSW

REINSW has been working with Government on improving electrical safety in all NSW properties due to overall concerns of statistics of electrical fires within NSW households.

01/03/2021 | Only Members can view this content. You will need to sign in to view

1/03/2021 12:00:00 AM1/03/2021 4:11:10 PM

Altered arrangements for convening

The provisions allowing electronic convening and voting at meetings, introduced in response to the COVID-19 pandemic, should be made permanent and not repealed on 13 May 2021.

26/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

26/02/2021 12:00:00 AM26/02/2021 11:05:03 AM

On alert! Cyber-crime on the rise

Social engineering fraud has increased in frequency and severity in recent years. Fraudsters have become especially sophisticated when targeting unsuspecting victims and the financial consequences of these crimes can be devastating.

25/02/2021

25/02/2021 12:00:00 AM25/02/2021 9:33:46 AM

Slow and steady: The commercial market to run its own race in 2021

It’s easy to see how COVID-19 has negatively impacted the commercial real estate space, but new data shows CBD workers are slowly, but surely, making their way back into the office.

24/02/2021

24/02/2021 12:00:00 AM24/02/2021 9:37:17 AM

Pre-meeting electronic voting for elections

Clause 14 of the Strata Schemes Management Regulation 2016 (NSW) should be amended to make it clear that pre-meeting electronic voting does not extend to elections.

23/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

23/02/2021 12:00:00 AM23/02/2021 9:20:22 AM

Combustible cladding: interest-free loans to speed up removal from NSW apartment buildings

Interest-free 10-year loans have been welcomed to fast-track the removal of high-risk combustible cladding from apartment buildings across NSW.

22/02/2021

22/02/2021 12:00:00 AM23/02/2021 2:42:02 PM

Quorum

The provisions regarding the quorum at a meeting need to be redrafted, so that it is clear, particularly in the case of small strata schemes, what happens if there’s not a quorum.

19/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

19/02/2021 12:00:00 AM19/02/2021 9:08:35 AM

How agents can help vendors

Not every `Sold’ sticker placed on a real estate signboard is accompanied by a smiling vendor jumping for joy. Divorce, debt and death are among the most challenging reasons for selling property and often super charged with emotion.

18/02/2021

18/02/2021 12:00:00 AM18/02/2021 10:04:20 AM

Items requiring statutory warranty

Further guidance needs to be provided regarding the need to include an item on the Annual General Meeting agenda to consider building defects and rectification where warranty periods under the Home Building Act 1989 (NSW) apply.

17/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

17/02/2021 12:00:00 AM19/02/2021 9:25:20 AM

Take charge of compliance

The 1 April 2021 implementation deadline for the Supervision Guidelines is looming. Here’s what you need to know to ensure compliance.

16/02/2021

16/02/2021 12:00:00 AM16/02/2021 10:01:11 AM

Record keeping

The legislation should be amended to allow for the better maintenance of strata records, including electronic storage and back-up, as well as a requirement to maintain an overall index of records.

15/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

15/02/2021 12:00:00 AM19/02/2021 9:24:23 AM

Small fluctuations in rental vacancies welcome the New Year

MEDIA RELEASE: After a year of uncertainty and dramatic fluctuations, the REINSW Vacancy Rate Survey results for January 2021 show that rental vacancies across the major metropolitan markets remain largely stable.

12/02/2021

12/02/2021 12:00:00 AM12/02/2021 3:48:25 PM

Insurance valuations

The requirement for an Owners’ Corporation to obtain a building insurance valuation every five years should be reintroduced and amendments made to remove reinstatement from the valuation exercise.

12/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

12/02/2021 12:00:00 AM12/02/2021 2:29:41 PM

Window safety devices

The legislation needs to clarify who is responsible for the ongoing maintenance of window safety devices and address the many practical issues that are currently causing confusion.

11/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

11/02/2021 12:00:00 AM19/02/2021 9:18:53 AM