NSW to crack down on property underquoting, forcing sellers to publish price guides on all listings
by Ben Smee from World news | The Guardian on (#748B1)
Underquoting and dummy bidding' will attract fines of $110,000 in bid to create a fair property market'
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The New South Wales government will introduce new laws this week to force property sellers to publish a price guide on all advertising, and impose a fivefold increase to fines for underquoting real estate agents.
The government says the draft laws, first flagged last year, are aimed at cracking down on agents providing misleading price estimates on property listings, a practice often used to inflate interest.
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