NSW to crack down on property underquoting, forcing sellers to publish price guides on all listings
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The New South Wales government is set to implement new laws requiring property sellers to publish price guides on all listings. This initiative aims to combat the practices of underquoting and 'dummy bidding', which have been prevalent in the real estate market. The fines for underquoting will increase significantly, reaching up to $110,000, as part of efforts to ensure a fairer property market.
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Underquoting has been a longstanding issue in the Australian property market, often leading to inflated buyer expectations and market instability. The NSW government's move comes amid broader discussions about housing affordability and market integrity.
This article is for informational purposes only and does not constitute legal or financial advice.
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