Following on from Part One, the second part with Brad Teal focused on Victoria’s new underquoting laws that came into effect on the 1st May 2017. For those new to the real estate industry, underquoting as defined by the Consumer Affairs of Victoria is: Underquoting can occur when a property is advertised at a price that is less than the estimated selling price, the seller’s asking price, or at a price already rejected by the seller. You can learn more about this new regulation here.
So for this part, the three of them discussed:
- How was this new underquoting law introduced and the logic behind it
- What changes will the new regulation impose on the real estate industry and will it be introduced to the other states
- Traits of a good selling agent and the research that a vendor can conduct
- The different demands on certain property type in different market
- What does he think about the buy and hold strategy
- What success mean to him
ps: And if you are interested in Ben’s “Did You Know” Facts, click here.
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