by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
REIQ Journal : September 2008
Legal Issues 27 Watch out for marketeers By Brett Heath, Special Counsel, Carter Newell Lawyers There are many types of improper marketing practices that pose a serious threat to the integrity and reputation of the real estate industry. Many investors in Queensland have been convinced to buy investment properties, particularly in coastal areas, at prices greater than their fair market value, by property marketeers who are not licensed real estate agents. THE AUSTRALIAN COMPETITION and Consumer Commission (ACCC) has been focussed on cracking down on the practice of “two-tiered market trading”, where unsuspecting investors – often from interstate – are pressured into purchasing investment properties in circumstances where the marketeer has created the impression of a far higher, but artificial, value for the properties sold. The anti-marketeering provisions of the Property Agents and Motor Dealers Act 2000 (QLD) were introduced to protect buyers from misleading or unconscionable conduct undertaken by marketeers in relation to the promotion or sale of residential property in Queensland. However, an agent does not need to be directly involved in property marketeering to be potentially accountable for its adverse consequences. An example of this is the recent decision of the Southport District Court in Williams v Rex & Anor (Unreported, District Court of Queensland, C.F. Wall QC, 23 October 2007), a case which highlights the dangers of sales agents being used as pawns in “two-tiered” marketing scams. REIQ Journal September 2008