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Is offers over illegal in NSW?

An agent must not promote a price for your property as: $,000+ offers over or offers above a certain amount (or any similar statements) if their estimate is a range, they can quote that range as long as the higher price does not exceed the lower price by more than 10% eg; $500,000-$550,000.

What is the fine for underquoting in NSW?

Underquoting is an offence under the Act. Agents can face fines of up to $22,000 for failing to comply.

What happens if you underquote?

Agents who do not comply with underquoting laws risk a penalty of more than $36,000 (200 penalty units).

What is the main legislation that agents operate under in NSW?

Real Property Act 1900 (NSW)

What is the maximum price range percentage for a property sale allowed on an authority to sell in NSW?

if the estimate is expressed as a price range, ensure the highest price in a price range does not exceed the lower price by more than 10 percent (for example, if the lowest price is $500,000 the maximum price cannot exceed $550,000).

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