‘Pathetic’ penalty handed to almost 50 real estate agents busted underquoting

Almost 50 real estate agents have been fined by Victoria’s underquoting taskforce, but buyers advocates say the penalty is “pathetic” and won’t discourage the practice.

The 48 agents were fined a combined total of just over $520,000 for underquoting property by as much as one million dollars.

David Morrell, Director at Morrell & Koren Buyers Advocate Group, said the fines would simply be viewed as the “cost of doing business”.

“It is pathetic,” he told Tom Elliott.

Press PLAY below to hear his scathing response