ABC News : Link
A court has found a Melbourne real estate agency advertised a misleading property price, the first such ruling in Australia.
The Federal Court has found Gary Peer and Associates engaged in misleading and deceptive conduct when advertising the expected selling price of a Caulfield property in 2003.
The Australian Competition and Consumer Commission (ACCC) told the court the real estate agency ran ads listing selling prices of $600,000 and $650,000 plus, when the vendors had instructed that they wanted more than $800,000.
It was the first case of its kind under trade practices laws.
The court has not issued a penalty other than ordering the agency to pay the ACCC's costs because it found Gary Peer and Associates no longer used the same price guides and no-one suffered any loss.
Well.. thats a bit odd.. its like not jailing a criminal because they aren't committing any crimes any more.. there's a punishment aspect to consider as well as the deterrent aspect for other Agents considereing acting deceptively.
A court has found a Melbourne real estate agency advertised a misleading property price, the first such ruling in Australia.
The Federal Court has found Gary Peer and Associates engaged in misleading and deceptive conduct when advertising the expected selling price of a Caulfield property in 2003.
The Australian Competition and Consumer Commission (ACCC) told the court the real estate agency ran ads listing selling prices of $600,000 and $650,000 plus, when the vendors had instructed that they wanted more than $800,000.
It was the first case of its kind under trade practices laws.
The court has not issued a penalty other than ordering the agency to pay the ACCC's costs because it found Gary Peer and Associates no longer used the same price guides and no-one suffered any loss.
Well.. thats a bit odd.. its like not jailing a criminal because they aren't committing any crimes any more.. there's a punishment aspect to consider as well as the deterrent aspect for other Agents considereing acting deceptively.