The new underquoting laws became effective on 1 January 2016.
“Underquoting has received a great deal of attention in recent times and it is essential that both real estate professionals and those seeking to buy and sell property understand how properties are to be marketed in line with the new laws,” REINSW President John Cunningham said.
In the lead up to 1 January 2016, REINSW has been extremely vocal about how important it is that agents both understand and follow the laws. To help you get prepared, NSW Fair Trading has released the underquoting guidelines for residential property.
REINSW worked closely with Government during the drafting process of the laws, and is therefore in a great position to advise you on the impact of these new laws. To help agents through this difficult transition REINSW is running a number of Underquoting Information Sessions across NSW.
To get some specific advice Members should call the REINSW Helpline on (02) 9264 2343.