Consumer Affairs Victoria said agents took bets on how much the properties would sell for, and the estimated prices were much higher than the quoted price ranges.
Ray White Oakleigh and agent Nick Strilakos have been accused of underquoting on at least 11 properties by Consumer Affairs Victoria , and will face Federal Court over the alleged breaches of consumer law.
The watchdog said the agency and Strilakos engaged in alleged misleading and deceptive conduct and making false and misleading statements by advertising the homes “well below” their market value and, in some cases, taking larger commissions if properties sold above the low reserves influenced by underquoting.
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