Wednesday, July 29, 2009

More on real estate regulation

Estate agent conduct also in Graeme Samuel's sights

The full text of the bill is here

Essentially one of the proposals is that s new section 76E be inserted, providing for pecuniary penalties, for breaches of 'a provision of Division 1 of Part V (other than s52)'.

This means that breaches of the various specific false/misleading representation provisions (including 'aiding/abetting/inducing etc') in s53 would potentially give rise to substantial penalties.

This change obviously goes well beyond misconduct by real estate agents.

Real Estate Underquoting

Last year I conducted some research on behalf of the Victorian Department of Justice, Consumer Affairs Victoria.

The report from this research has recently been released and is available here:

Some media coverage of enforcement actions by Consumer Affairs Victoria arising from alleged underquoting here:

Tuesday, July 28, 2009

Google's Real Estate Advertising

Posts have been thin on the ground for the last three weeks, while I
have been teaching and traveling in Italy.

This story is an interesting one, the whole 'content from aggregators'
issue comes up again, intertwined with the bi-polar position that
Google (and other companies) seems to be in from time to time -
partner/provider on one hand and competitor on the other.