Real estate agents face fines of up to $4400 if they don’t reveal details of property inspection reports conducted on houses and units they are selling, under new regulations due to come into force from August.
And, in a huge boost to property’s so-called “collaborative economy”, agents when asked must tell potential purchasers whether the report was commissioned by the vendor or a prospective buyer.
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The new regulations are due to come into force at the beginning of August. Photo: Getty Images