The Australian Competition and Consumer Commission has instituted legal proceedings against Gary Peer & Associates Pty Ltd alleging misleading and deceptive conduct in respect to the advertising for the sale of the property at 341 Glen Eira Road, Caulfield in Melbourne's inner southern suburbs. The property was passed in at auction on 14 September 2003 for $781,000.
Gary Peer & Associates has vigorously denied the allegations made against the company by the Australian Competition and Consumer Commission.
The ACCC alleges that in advertisements appearing in various media during August and September this year, Gary Peer & Associates Pty Ltd advertised the property at ‘price guide $600,000 plus buyers should inspect’ and later at ‘price guide $650,000 plus buyers should inspect’ which falsely represented the price at which: * the vendors of the property were prepared to sell;
* the vendors of the property had instructed the respondent to sell;
* the respondent believed and was of the opinion that the property would be sold;
The ACCC further alleges that Gary Peer & Associates Pty Ltd did not have reasonable grounds for making the price representations about future matters that it did in these advertisements.
The ACCC is seeking an injunction, declarations and a specific trade practices compliance program, fact findings and costs.
Gary Peer, the company’s principal, said the circumstances of the sale of the particular property in question were both difficult and highly unusual.
“It should be noted the property at the present date remains unsold,” he said.
“The company acted at all times with the Vendor’s best interests in mind. Gary Peer & Associates acts and has acted with honour and integrity at all times.”
Mr Peer said he was not in a position to comment on the specifics of this case given it is a legal matter.
“I am proud of this company and in the 17 years we have been in business we have built an excellent reputation as real estate professionals,” he added.
A directions hearing has been set for 10.15 am on Monday, February 2nd next year in Melbourne before Justice North.
