73Underquoting in advertisements for residential property

#### 73 Underquoting in advertisements for residential property 73 Underquoting in advertisements for residential property > > (1) A real estate agent must not publish or cause to be published an advertisement in relation to the sale of a residential property that indicates or suggests a selling price for the property that is less than the estimated selling price for the property. > > > > Maximum penalty—200 penalty units. > > > (2) A real estate agent must not publish or cause to be published an advertisement in relation to the sale of a residential property that includes the phrase “offers above” or “offers over” (or similar symbols or words in any language) a specified selling price or price range. > > > > Maximum penalty—200 penalty units. > > > (3) A real estate agent must, as soon as practicable after revising the estimated selling price for a residential property, take all reasonable steps to amend or retract any advertisement published in relation to the property that includes an advertised selling price for the property that is less than the revised estimated selling price. > > > > Maximum penalty—200 penalty units. > > **s 73:** Subst 2015 No 31, Sch 1 \[2\].