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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 8b Green Parade, Sandringham

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What is underquoting in real estate?

Underquoting in real estate refers to the practice of advertising a property for sale at a price that is lower than the expected selling price or the price that the seller is willing to accept. This can mislead potential buyers regarding the property's market value.

Who is required to file underquoting in real estate?

Real estate agents and agencies are required to file underquoting if they provide a price estimate or marketing price that is less than a certain threshold compared to the property's actual value.

How to fill out underquoting in real estate?

To fill out underquoting in real estate, agents must provide accurate market data, submit a detailed valuation report, and ensure that all pricing information reflects fair market value to avoid misleading buyers.

What is the purpose of underquoting in real estate?

The purpose of underquoting in real estate is to attract more potential buyers by presenting a lower price, but it can also create misinformation and dissatisfaction among buyers if the property sells for significantly more than the quoted price.

What information must be reported on underquoting in real estate?

Information that must be reported includes the advertised price, actual expected selling price, and any relevant market data that supports the pricing decision.

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