A NSW agent told several buyers that a development application for the block next door had been withdrawn. A week later the vendor says it has been re-lodged. What should the agent do?
Correct Answer
C) Tell those buyers, as the earlier statement is now incorrect
NSW guidance on misrepresentation says silence or omissions can be misleading, and that changes which make an earlier statement incorrect must be passed on to the relevant parties. Known information that a buyer would reasonably care about and that is not readily apparent must not be concealed.
Why This Is the Correct Answer
When a change makes an earlier statement wrong, the agent must correct it with those told.
Why the Other Options Are Wrong
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A married couple intend to bid together at a NSW residential auction to buy the house jointly. What registration is required?
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A NSW house was passed in at auction on the auctioneer's vendor bid of $1.4 million (invented). The next week the agent's online listing says 'Passed in at $1.4m, now for sale'. What is wrong with this?