Prospective home buyers would know the reserve price of a property at least a week before auction under a new plan designed to stamp out underquoting. The state government says the changes will help take away any surprises once bidding kicks off and could come into effect next year.
00:05And underquoting is dishonest, it is unethical, and it is cruel.
00:10The Victorian government's drafting new laws, making it compulsory for real estate agents to publish the reserve price of properties a week before auction.
00:19The changes would be in Australian first, and mean agents could be stopped from selling if they don't comply.
00:25The main victims of underquoting are young, prospective first home buyers.
00:31It is a blunt instrument that vendors will then no longer have the choice as to how they bring their property to market.
00:37Congratulations, sold!
00:40Home buyers aren't the only ones who feel the property market is stacked against them.
00:45There was mould on both the inside and the outside of the tap, so we had no drinking water for 18 months.
00:51For renter Jaren Patterson, resolving his rights at VCAT was an 18-month ordeal.
00:57Mentally, it's taken up pretty much every second that I've had.
01:01In June, rental dispute resolution Victoria was created to help clear VCAT's backlog.
01:07It's resolved more than 5,000 cases since, the majority within two weeks.
01:12It doesn't seem like fairness is being prioritised. It seems more like efficiency is most important to the mediator.
01:19In its latest report, Annika Legal spoke with 50 renters defending bond claims through the RDRV,
01:26and found 94% were told to make an offer of settlement before the landlord shared any evidence,
01:32while nearly half were told they would have to give up some of their bond amount.
01:36Landlords should not have this kind of disproportionate power over renters.
01:41Keeping the house in order is no easy feat.
01:49The RDRV is a reliable building on every PAYLEN,
01:52not only 1,000 people who are committed to unrest.
Be the first to comment