By Phillip Leaman

24 April 2017

Recently, TLFC Principal, Phillip Leaman brought you the blog, Underquoting by Agents: Get Prepared Now or Face Prosecution. Following on from that discussion, the start of the new underquoting laws has been brought forward to 1 May 2017.

Agents need to get prepared to ensure that they have a compliance process in place to avoid their agency or individual agents being prosecuted under the new laws or the Australian Consumer Law.

Tisher Liner FC Law is assisting estate agent firms to get ready for the new law, by providing training to staff, introducing compliance measures, providing templates, checklists and guiding agents to navigate the new laws so when 1 May comes the risk of prosecution is greatly reduced.

Agents need to be aware that some of the breaches (which result in fines up to around $30,000) can occur without deliberate acts.
For example:

> If an agent does not provide a prospective purchaser with a Statement of Information within 2 business days, the agent and agency is liable for a fine if prosecuted.

> If an agent does not have a copy of the Statement of Information at an open for inspection, the agent and agency is liable for a fine if prosecuted.

If you operate an estate agency and would like Tisher Liner FC Law to develop a compliance package for you, please contact Phillip Leaman of our office to arrange a suitable time.

Related Articles

View All
Leasing & Lease Disputes / Property & Development / Property & Developers

Commercial Leases – Protect your Property

At the start of a commercial or retail lease, things can often seem to a landlord to be on the up The tenant may have a...
Read More
Leasing & Lease Disputes / Property & Development / Property & Developers

Update – Residential Tenancies Act Reform

The Victorian Government has recently concluded its review of the Residential Tenancies Act 1997 (Vic) (“the...
Read More
Property & Development / Property & Developers / Real Estate Agents

Bushfire Beware!

With bushfires becoming more and more prevalent in the community, measures have been taken to reduce the devastating...
Read More
Owners Corporation / Property & Development / Owners Corporations & Strata

Apartmentites – Guest Insight #1

Owners Corporations are made up of apartment owners In this ‘Apartmentites’ blog, Tisher Liner FC Law’s Nicole...
Read More
Owners Corporation / Property & Development / Property & Developers

Important VCAT Case Update: The Grundl Assessment

New Guidance from VCAT on how Owners Corporations choose the appropriate method for raising Special Levies An important...
Read More
Property & Development / Property & Developers / Real Estate Agents

Nominating Alternative Purchasers under a Contract of Sale

When purchasers enter into contracts of sale to purchase property and/or land, they rarely imagine that they will not...
Read More
Construction / Litigation & Dispute Resolution / Property & Development

Domestic Building Dispute Resolution – New Regime

The days of VCAT being a first-instance negotiator in Victorian domestic building disputes are coming to an end...
Read More
Leasing & Lease Disputes / Property & Development / Property & Developers

Landlords Beware – Industrial and Warehouse premises can constitute Retail premises

The definition of what constitutes a retail premises has long been a point of contention and uncertainty for landlords...
Read More
Covenants & Easements / Property & Development / Property & Developers

Love Thy Neighbour

Restrictive covenants can often prevent a development from proceeding So, whilst that old house on a huge block may...
Read More
Adverse Possession / Property & Development

Adverse Possession- A Guide to Acquiring Land

1 What is Adverse Possession  Adverse possession is the process whereby title to another person’s real property is...
Read More
Property & Development / Property & Developers

What to look for when purchasing land

A legal review of the Contract documents will, amongst other things, identify any restrictions affecting the land,...
Read More