The NSW Department of Fair Trading has been cracking down on dodgy real estate agent who have been caught under quoting on properties.
Minister for Innovation and Better Regulation Matt Kean told Triple M they want to give consumers a fair go at getting their dream home.
A push back against underquoting of property prices is in train, with tougher penalties for the practice recently coming into force in Victoria and a strengthening of the laws under consideration in NSW.
NSW Minister for Innovation and Better Regulation Matt Kean said the evidence suggested the new laws may be effective, but said it was timely to review them.
Real estate agents in Sydney’s Inner West have been fined more than $66,000 after a recent Fair Trading crackdown, Minister for Better Regulation Matt Kean said.
Mr Kean said inspectors visited 37 real estate agents in the area, and found 27 to be non-compliant, with 19 fined for underquoting offences.
“The Inner West is one of the busiest real estate markets in Sydney right now, with more people wanting to live in the area than ever before,” Mr Kean said.
After being elected as Member for Hornsby in March 2011, I have embarked on many initiatives that the community and I see as pivotal issues for Hornsby. I see and understand the needs of the community and am proud to play my part.
