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STATEMENT OF INFORMATION Section 47AF of the Estate Agents Act 19809 BORING AVENUE, MOUNT EVELYN, VIC316Indicative Selling Price For the meaning of this price see consumer.vic.au/underquotingPrice
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How to fill out underquoting guidelines for residential

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How to fill out underquoting guidelines for residential

01
Review the underquoting guidelines set by your local regulatory authority.
02
Gather all the necessary information about the residential property you are quoting.
03
Determine the market value of the property by conducting a thorough analysis of recent sales of similar properties in the area.
04
Calculate the estimated selling price range based on the market value and any unique features or circumstances of the property.
05
Document your calculations and reasoning behind the estimated selling price range.
06
Clearly explain the estimated selling price range to potential buyers in all advertising materials and on the property listing.
07
Regularly monitor the market and update the estimated selling price range if necessary.
08
Keep records of all communications and transactions related to the quoting process for future reference and compliance purposes.

Who needs underquoting guidelines for residential?

01
Real estate agents and property sellers who are involved in residential property sales need to follow underquoting guidelines to ensure fair and transparent pricing for potential buyers.
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Underquoting guidelines for residential are regulations designed to ensure that property prices listed by real estate agents reflect the true market value and do not mislead potential buyers.
Real estate agents and agencies involved in selling residential properties are required to file underquoting guidelines.
To fill out underquoting guidelines, real estate agents must provide accurate price information, including estimated sale prices, and document any comparable sales that support the listed price.
The purpose of underquoting guidelines is to promote transparency in the real estate market, protect consumers from misleading practices, and ensure fair competition among agents.
The information that must be reported includes the advertised price, comparable sales data, and any adjustments made to reflect current market conditions.
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Relevant keywords

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