Queensland passed significant legal reform of real estate agent rules last week, deregulating agents’ commissions – there’s no longer a cap on how much an agent can charge. Agents can now negotiate prices with their clients and buyers can waive the five-day cooling off period without hiring a lawyer. Read the full story here.
You’re a real estate agent, not a secret agent: Homeowners spy on their agents during open houses
Once upon a time, a homeowner might set up a tape recorder while they’re out of the house during a showing, to see if their agent was working hard while buyers lob in. But some take it to another level, with spycams feeding a live stream to iPads. Read the full story here.
Housing Industry Association: the housing boom is over
With interest rates as low as anyone thinks they’ll get, “(T)here’s a bit of momentum left in the Sydney market and in the Melbourne market which is your two prominent sources of growth, but I think we’ve seen the biggest run already behind us,” said Chief Economist Harley Dale. Growth will, however, continue, just not at the breakneck speed we’ve seen recently. And rates? They’ll start to move upwards mid next year reckons Dale. Read the full story here.
Project to build Aspire tower – potentially the tallest building in Australia – revived out of the blue
The Parramatta City Council received an unsolicited bid from a Hong Kong developer to revive the Aspire project, a 90-storey residential and hotel development near Sydney. It would be tall enough to cause air traffic issues and the Parramatta council has worried that its scale might fail to attract enough pre-sales for construction to begin. Read the full story here.
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