Under SA consumer protection law, which of the following is considered misleading conduct in property marketing?
Correct Answer
D) Quoting a price below the vendor's price in the agency agreement to draw interest
Quoting a price below what the vendor will accept, to draw interest, is underquoting. It is misleading conduct under the Australian Consumer Law, and in SA it breaches s 24A of the Land and Business (Sale and Conveyancing) Act 1994, which prohibits advertising a price, or the lower end of a range, below the greater of the agent's estimate and the vendor's price in the sales agency agreement.
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