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Statement From The Real Estate Institute Of Victoria

Statement From The Real Estate Institute Of Victoria

Attributable to REIV President, Leah Calnan:

“The process for price estimation is well documented in the legislation and all agents are required to follow that process.

The selling agent is required to refer to sales in the last quarter/year, in a defined geographic area, and list the similar sales on which the price estimate has been based.

REIV recommends all buyers refer to recent sales in the area and first contact the agent to gain a better understanding of the market.”