Real estate agents face $110,000 fine for underquoting under new laws in NSW

Labor is consulting with the property sector as it drafts legislation to stamp out misleading price estimates

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Real estate agents in New South Wales could be fined $110,000 or more if caught underquoting properties under proposed new laws intended to stamp out misleading price estimates and increase transparency for buyers.

The Minns Labor government has started consultation with the property sector as it prepares to draft legislation to enact tougher underquoting laws, which it expects to introduce to parliament next year.