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Fair Trading Week 2006

Discussion in 'Real Estate' started by Jacque, 30th Nov, 2006.

  1. Jacque

    Jacque Team InvestEd

    Joined:
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    Interesting survey results from the NSW Dept of Fair Trading's special focus week Nov 5-10 2006 revealed the following, from a group of almost 2000 participants:

    During September this year, Fair Trading conducted a survey of buyers, sellers, renters and landlords to find out how well people understand their rights and obligations when making real estate transactions.

    Key findings
    The results of the Home Sweet Home survey show wide gaps between how much people believe they know about their rights, and their actual level of knowledge. As a result, people buying, selling or renting properties are more vulnerable than they think. For example, the survey found that:

    only 1 in 3 buyers knew that the five day cooling-off period was the last opportunity to change their mind during the purchase
    only 1 in 10 sellers started out by researching the process of selling their property
    1 in 4 tenants did not know it was advisable to put their request for repairs to the agent/landlord in writing

    See link to full survey here: http://www.fairtrading.nsw.gov.au/pdfs/corporate/ftweeksurvey2006.pdf