oc | Monday 19th April

The Block and CAV Underquoting Press Release


The Block Underquoted and Consumer Affairs Victoria condoned the behaviour

Press Release James Buyer Advocates

Mal James


0408 107 988

The Andrews Government said they would look out for Melbourne home-buyers and after a genuine attempt with the new Underquoting laws in May 2017, we are now firmly back to the bad ól days before 2017.

Many of us saw The Block pass-in of Ronnie and Georgia’s home – $20,000 below the reserve.

The pass-in was to Frank’s buyer and his buyer offered over the reserve.

The was not sold to Frank’s buyer.

The reserve remained visible on the TV screen, all through this charade and by not selling the home, at or above the reserve – Scott Cam, Channel Nine and Consumer Affairs Victoria signed off on Underquoting.

1) Scott Cam and Channel Nine need to be educated.

2) I understand the representative from the CAV was under pressure and we all make mistakes, but ………… ……….but somebody further up the food chain needs to be asking – how can they be prosecuting underquoting agents, while they are complicit in it themselves.

3) I return to the buyer who did the right thing and was dudded by Channel 9 and Scott Cam and ………….what is happening for him or her?

Legislation Underquoting Issues that need addressing

The first issue revolves around the reserve and how its communicated from seller to agent to buyers.

The second issue revolves around the reserve’s meaning – can buyers meet the reserve and not be sold the home – obviously yes on THE BLOCK and as we as buyers now know again – obviously yes week in and week out at Melbourne Saturday auctions.

The third issue revolves around quoting before, during and after auctions.

OK nobody died – but what witnessed on Saturday was cruel to one buyer and highlighted what most buyers are now back to putting up with every weekend.

Buyers do represent half your constituency Mr Andrews and I genuinely believe you and the CAV have been trying, BUT you need to tweak your legislation around the reserve, what it means and how it is communicated.

And you need to do it urgently Mr Andrews.

Link to our full James Marketnews article – Are you serious Scott Cam, are you serious CAV.

Link to Open Letter to Daniel Andrews – The Block and Underquoting

Link to Block Apology

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