A real estate agency has paid $10,000 after admitting to breaching property advertising laws.
In October 2024, Real Ter Pty Ltd, trading as Barry Plant Geelong, advertised a block of land in Bannockburn with a listed price of ‘from $200,000’.
Victorian laws introduced in 2017 to improve price transparency prohibit estate agents from using terms such as ‘offers above’, ‘from’ and ‘+’ in property advertising.
The agency’s directors admitted to the breach and signed a 12-month enforceable undertaking.
This requires the company to pay the penalty, review its property listings to ensure compliance with the law, and provide training to staff.
Consumer Affairs Victoria Director Nicole Rich said the outcome reinforced the importance of price transparency in the property market.
'This is a proportionate but strong response that makes clear agents must understand and comply with their obligations when marketing properties,’ Rich said.
'Buyers should be able to rely on clear and consistent property advertising and have confidence they are receiving accurate information.'
The introduction of new property sales laws this month further address underquoting and provide greater clarity for buyers.
If you're an agent or agent’s representative, you can find out more about the new laws on the Consumer Affairs Victoria website, including Industry Q&As.
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