A buyer makes an offer on a property listed for private treaty sale. The agent must present this offer to the vendor within what timeframe?
Correct Answer
C) As soon as reasonably practicable, whatever the amount offered.
Agents must present all offers to vendors as soon as reasonably practicable, regardless of the amount. This ensures vendors can make informed decisions about all offers received and maintains the agent's fiduciary duty.
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Two weeks into a campaign, strong buyer feedback shows an agent's recorded estimated selling price is no longer reasonable. What does the Act require when she revises it?
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A property has recent comparable sales of $580,000, $595,000, and $610,000. What would be an appropriate price guide under underquoting legislation?