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Statement of InformationSingle residential property located in the Melbourne metropolitan area Section 47AF of the Estate Agents Act 1980 Property offered for sale Address 38 Southern hay Street,

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How to fill out underquoting in real estate

01

Obtain a quote from the vendor regarding the estimated selling price of the property.

02

Research recent sales of similar properties in the area to determine the market value.

03

Disclose any known information that may affect the value of the property, such as renovations or damage.

04

Ensure all advertising materials accurately reflect the estimated selling price to avoid underquoting.

Who needs underquoting in real estate?

01

Real estate agents

02

Property sellers

03

Property buyers

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What is underquoting in real estate?

Underquoting in real estate refers to the practice of advertising a property for a price that is lower than the actual selling price that the seller is willing to accept.

Who is required to file underquoting in real estate?

Real estate agents are required to file underquoting in real estate when advertising properties for sale.

How to fill out underquoting in real estate?

Underquoting in real estate can be filled out by accurately stating the estimated selling price range of the property being advertised.

What is the purpose of underquoting in real estate?

The purpose of underquoting in real estate is to ensure transparency and fairness in property transactions by providing potential buyers with accurate information about the expected selling price.

What information must be reported on underquoting in real estate?

Information that must be reported on underquoting in real estate includes the estimated selling price range, comparable sales data, and any other factors that may affect the price of the property.

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