NSW to crack down on property underquoting, forcing sellers to publish price guides on all listings

Underquoting and ‘dummy bidding’ will attract fines of $110,000 in bid to create a ‘fair property market’Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe 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. Continue reading...