Browse Forums Real Estate 1 Dec 02, 2008 7:16 pm I have often seen this written across real estate ads. Could someone tell me what it means? Is it that the agent wants to purchase the property? home loan tips, home loan centre 2Dec 02, 2008 7:39 pm sammy I have often seen this written across real estate ads. Could someone tell me what it means? Is it that the agent wants to purchase the property? 10.3.1 Requirement to reveal agents interest in property which is being advertised Section 50 of the Act requires an agent advertising a property for sale to disclose in the advertisement if he or she has an interest in the property as a principal. The purpose of this requirement is to promote transparency where an agent engages in property transactions relating to his or her own property. It is proper that prospective purchasers know, during any negotiations, that the agent may be representing themselves as the vendor of the property.............. http://www.fairtrading.nsw.gov.au/About ... ments.html Re: Agents interest 3Dec 03, 2008 8:11 am thanks thlo. Just to clarify, they have to advertise agents interest if the agent wants to buy it or if they own it, is that right? buying first home in sydney 4Dec 03, 2008 12:46 pm sammy thanks thlo. Just to clarify, they have to advertise agents interest if the agent wants to buy it or if they own it, is that right? Quote: Section 49 of the Act prohibits real estate agents and their sales employees from obtaining or being connected to the obtaining of a beneficial interest in the sale of a property, unless agreed to by the client. Real estate is not my field but from what I have read, yes. Re: Agents interest 5Dec 10, 2008 7:09 am I have a very bad experience with a real estate agent.
We bought 5 years ago on Gold Coast. The agent told us an employee inherited a house from his aunt. He decided to sell to holiday in Italy. We bought it. He had the house for 3 months before we bought it. He paid $300,000 and we paid $403,000. It was cheap for him as the previous owner had suicided, it had had white ants. Beware.... We are selling now at a silly price as we have to reveal all... "ECOECO" At 'EcoEco', we design windows, we design the best windows, we do it for you, so that when you’re happy we are happy. Tel. 1800 326 326 Quakers hill home loan, home loan advice 6Dec 12, 2008 5:01 pm One of my customers bought a house in Quakers Hill, north west Sydney not knowing it was owned by the real estate agent himself. It's a common occurence. Re: Agents interest 8Mar 20, 2010 10:02 am aware AFAIAC, it doesnt matter whether an agent owns a property or not, they will always try and con you. Caveat emptor always! Interesting... if I was walking into a sheep pen, I am aware of my surroundings and take the necessary care - which may be just to be careful not to step into sheep poo. If I am walking into a lions den, then I am aware of my surroundings and take the necessary care so as not to get eaten. But if I am walking into a sheep pen and a lion ****** hiding, then my defences are down... that's IMO anyway. Nobody can prepare themselves for every possible risk... especially where deceit is involved. Beware maybe, but safe? Maybe not. Ed "ECOECO" At 'EcoEco', we design windows, we design the best windows, we do it for you, so that when you’re happy we are happy. Tel. 1800 326 326 Re: Agents interest 9Mar 20, 2010 8:13 pm ed @ EcoClassic Nobody can prepare themselves for every possible risk... especially where deceit is involved. Ed err, once bitten, twice shy. you just have to be bitten under every conceivable circumstance. Self protection can be greatly enhanced by Reading some Neil Jenman books. |