02 NEWS

SATURDAY, MARCH 5, 2016 HERALDSUN.COM.AU

House
price
clamp

INSIDE TODAY
Business Daily ................. 57
CareerOne.......................63
Classifieds.......................66
Comics ................. Weekend
Crosswords ..........Weekend
Editorial, Opinion......34, 35
In Black & White ............. 20
Page 13.............................13
Racing..............................37
Real Estate ............... Liftout
Saturday..........................27
Sudoku.................Weekend
Television.............Weekend
Weekend..................Liftout
World..............................26
Your Say....................54, 55

WEATHER

P56

TODAY

MIN 19
MAX 25
Chance of
morning drizzle,
cloudy afternoon

Agents underquoting
face $30,000
fines
Storms
Late rain
Rain

TOMORROW

MAX 30
Partly cloudy

dy

Showers
MONDAY

Clearing

MAX 30
Partly cloudy

Cloudy TUESDAY
Showers

MAX 34

Clearing

Partly cloudy

Cloudy

Showers

Clearing

About 1600 people

enjoyed the Worlds
Longest Lunch at
Albert Park.
Picture: TIM CARAFA

REAL estate agents caught SAMANTHA LANDY,

underquoting Victorian prop- MATT JOHNSTON AND
erties could be stripped of their BENN DORRINGTON
Storms
Late
rain
Rain
commission
and
be fined up to
$30,000
under
proposed $100,000 to $150,000 below
reforms.
reserve each weekend.
Sometimes the market will
Storms
Late The
rain stateRaingovernment
crackdown would see agents be hot. Sometimes a house just
banned from advertising resi- captures the imagination and it
dential properties with offers just flies, Ms Garrett said.
over
and price-plus,
Storms But at the moment, what
Late
rain
Rain instead
having to provide a single fig- we know is there are too many
ure or a 10 per cent price range. houses being advertised at too
The proposed law changes low a price, enticing buyers in,
Storms
Late
rain rain by
Late
Rain
Rain

announced
consumer
af- andStorms
they are getting their
fairs minister Jane Garrett yes- hopes dashed.
terday would also force
Underquoting is difficult to
agents
a homesStorms
esti- prove. While an agent cannot
Late
rain to reviseRain
mated selling price within 24 quote a price below the sellers
hours if they received a written reserve, the agents own estioffer that was higher than the mate or a genuine offer, there
advertised price.
is no obligation on a seller to
have to proStormstell the agent their reserve
LateAgents
rain wouldRain
vide prospective buyers with a price before auction.
fact sheet for any advertised
Property industry experts,
property detailing three recent including the Real Estate Insticomparable sales, the homes tute of Victoria, have backed
estimated price and median the changes, saying they will
price for the suburb. The onus bring transparency and conwould be on agents to prove sistency to the sale process.
they
were not underquoting
by
But buyers advocate David
Storms
Late
rain
Rain
providing evidence about how Morrell said there would still
they had arrived at a price.
be many ways to get around
Ms Garrett said the changes underquoting and agents
Late
rainnot aboutRain
were
limiting Storms
com- should, instead, be required to
petition for homes or house disclose their vendors reserve
Late rain
Rain priceStorms
prices,
but about ensuring
at the beginning of a sellthere was a clear paper trail ing campaign.
about how the agent and venVeteran agent and former
dor had determined a houses REIV ethics committee chairStormsman John Keating agreed.
Late
rain price. Rain
advertised
She said it was common for samantha.landy@news.com.au
houses to be underquoted EDITORIAL, PAGE 34

Please note: small versions

have larger TM symbols

Cloudy

Showers

Clearing

POWERBALL: Draw 1033:

20, 25, 27, 19, 9, 32
Powerball: 5
dy CloudyShowers
Clearing
Div 1:Showers
Jackpots toClearing
$15 million
Div 2: $107,465.60
$7332.10
Cloudy Div 3:Showers
Clearing
Div 4: $225.20
Div 5: $68.00
Div 6: $38.70
Div 7: $27.55
8: $13.50
Cloudy DivShowers
Clearing

CONS

CONS

ARE YOU A
QUIZ MASTER?

ONS
Cloudy

Showers

Clearing

Cloudy

Showers

Clearing

dy

Showers

Cloudy

Showers

Clearing
Clearing

Clearing

Late rain

Cloudy

Showers

Clearing

Late
Rain killedStorms
ANrain
innocent driver
in a WES HOSKING
country road crash has been
honoured as a stalwart of his a critical condition. Mr Goulds
community as police seek a brother, Wayne, told the Hermystery car that may have ald Sun his brother, an airport
triggered the smash.
inspector with the Civil AviKevin Gould, 57, died when ation Safety Authority, was
Stormsheading
a Ford
sedan travelling
in the
home in his MitsuLate
rainrain
Rain Rain
Storms
Late
opposite direction veered into bishi Magna when the accident
his cars path south of Tatura occurred.
in the Goulburn Valley yesterHe was a well-known figure
day afternoon.
in Tatura, having lived there
A small silver vehicle, which for more than 20 years and,
overtook the Ford and seem- with son David, founding the
ingly caused it to take evasive towns youth club, which ran
action when cut off, stopped boxing and blue light discos.
down the road but fled.
He was very committed
Five men in their mid-20s in not just to his family but to the
the Ford were seriously injured community he lived in,
and taken to hospital one in Wayne Gould said.

03 Clearing
9292 2000
Newsroom 03 9292 1226
Subscribe 1800 262 547
Delivery
03 9292 1010
Email readerfeedback@
heraldsun.com.au

FOLLOW US
facebook.com/
heraldsun
@theheraldsun

IT will soon host the worlds

fastest drivers, but yesterday
it was waiters doing the
quickest laps as 1600 people
sat down to the Worlds
Longest Lunch at the Albert
Park Grand Prix racetrack.
For the opening event of
the Melbourne Food and
Wine Festival, celebrity chef
Guy Grossi was in charge of
creating a three-course menu
that he said celebrated
the generosity of the
festival spirit.
Guests enjoyed pumpkin
tortellini followed by ricestuffed roast chicken and

Rain

Grossis signature dessert,

called Latte, a celebration of
milk in all its forms.
At the same time, 24
regional Worlds Longest
Lunches were held across the
state in picturesque locations,
including on the Kilcunda
trestle bridge and under the
shadow of Mt Sturgeon.

He was just driving home,

minding his own business and
just wanting to get home to his
family. Its a total tragedy.
He was an amazing guy
my best mate.
Major Collision Investigation Unit investigators are
probing the crash, on Murchison-Tatura Rd about 5.40pm.
Detective Sgt Col Schmidt
said the vehicle being sought
was seen pulling over about
200m from the crash site.
Certainly, their actions of
pulling over and stopping momentarily suggests theyre
aware of whats occurred and
we want them to come forward, Sgt Schmidt said.

The Worlds Longest

Lunch kicked off 10 days of
food experiences across the
state. A highlight is the River
Graze, which transformed
the banks of the Yarra River
into a foodie paradise until
tomorrow night.
From Federation Square
down to South Wharf, River
Graze has events for families
and foodies alike.
The Urban Diary hub at
Queensbridge Square will be
the heart of the festival,
where cheesemakers, bakers
and ice cream makers will be
serving up all things
deliciously dairy until the
festivals close on March 13.

TOKEN

Storms

Showers

CONTACT US
Clearing

DAN STOCK

Police hunt mystery driver

Cloudy

Showers
dyCloudy Showers
General

FOODIES LAP UP A LONG LUNCH

Collect your
magazine
today for
just $2.50*
Present this original token
at participating newsagents
and IGA supermarkets.

For stockists visit

heraldsun.com.au/promotions
*Paper +
FOOTY16

$ .70

Available at participating newsagents and IGA supermarkets in VIC & Riverina while
stocks last. One FOOTY16 per original token from hardcopy (not digital) newspaper only.
MHSE01Z01MA - V1