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Addressing property price guide failures in Victoria
Property price guides failing buyers: REIV’s Jacob Caine discusses reforms and plans for improved transparency in real estate
Property price guides failing buyers: REIV’s Jacob Caine discusses reforms and plans for improved transparency in real estate
In this episode of The Property Playbook, Tim Graham interviewed Jacob Caine, Interim CEO of the Real Estate Institute of Victoria (REIV), to discuss the ongoing issue of underquoting in the Australian property market. Despite reforms introduced in 2017, concerns and dissatisfaction from the public remain prevalent. Caine shed light on the root causes of consumer mistrust and outlined the REIV’s initiatives aimed at enhancing price guide transparency.
Together, they examined the reasons behind the persistence of underquoting and its extent within the industry. They also evaluated the successes and shortcomings of the 2017 legislation. The conversation highlighted the importance of data transparency in alleviating confusion for both buyers and real estate agents.
