NEW changes to South Australia's real estate laws have became operational.
Key changes to the laws include compulsory registration of bidders at residential auctions; strict new guidelines to stamp out under-quoting; and increased disclosure and transparency in transactions.
REISA’s chief executive Greg Troughton said more than 2400 real estate professionals have attended training on the new laws which made sure they were ready for the changes when they commenced last Monday morning.
“These new laws are supported by our membership which highlights the value of using a REISA member when you’re dealing in real estate,” he added.
“Buyers will see a difference in the manner in which properties are advertised for sale as the new pricing guidelines are very strict.
“Some sales representative may choose not to use a price in advertising and in this case, consumers will need to do their own research to establish what they believe the property is worth,” he concluded.
Australian Property Journal
