Beware of Enzo Raimondo's "Wheelers & Dealers"

Published 03 April 08 09:41 PM | Peter Mericka 

by Peter Mericka B.A., LL.B
Real Estate Lawyer
Qualified Practising Conveyancer Victoria
Director Lawyers Real Estate Pty Ltd

 

There are few things more dangerous for real estate consumers than estate agents who fancy themselves as "wheelers and dealers". They are usually the ones who cause the wheels to fall off real estate transactions, usually because one party or the other feels that they have been let down. Enzo Raimondo not only acknowledges that estate agents like to do a bit of "wheeling and dealing", he actually suggests that they are licensed to do so. It seems that silly old Enzo doesn't know the difference between taking licence and being licensed!

Estate Agents Are NOT Licensed to wheel and deal

Enzo Raimondo is the Chief Executive Officer of the Real Estate Institute of Victoria, and he really should know better when he tells consumers (see "Market Talk" of 1 March, 2008 (The Age - Domain p.3) that estate agents are "licensed to wheel and deal".

The fact is that estate agents have never been licensed to wheel and deal, assuming of course that "wheeling and dealing" relates to the negotiations associated with finalising a real estate sale. It is simply impossible for an estate agent to have any meaningful role in real estate negotiations, the reason being that the estate agent has a pecuniary interest in the outcome of the negotiations.

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Filed under: REIV, Contract, Enzo Raimondo, real estate institute of victoria, conditions

Comments

# Estate Agent Gallery said on April 3, 2008 10:05 PM:

There are few things more dangerous for real estate consumers than estate agents who fancy themselves as "wheelers and dealers". They are usually the ones who cause the wheels to fall off real estate transactions, usually because one

# Enzo Raimondo said on April 4, 2008 6:17 PM:

Mr. Mericka, as you are aware the headings to my weekly columns in the Age are provided by The Age.

Your comments about the most recent article are deliberately mischievous and untrue.

However I am not surprised as you regularly misinform readers of your blog site        

# Peter Mericka said on April 5, 2008 12:40 PM:

Hi Enzo,

It is not good enough to simply assert that comments are "deliberately mischevous and untrue" and that I "regularly misinform readers".  You must provide evidence for such assertions.

Tell me which statements are "mischievous and untrue" etc., and I will address them.

I put it to you personally Enzo that the REIV, of which you are the CEO, provides its estate agent members with draft "special conditions" to insert into offers made by purchasers, even though the estate agent acts solely for the vendor.  How do you respond to this?

When I am acting for a purchaser I expect my client to be referred to me so that I can draft and advise them on special conditions, rather than your "wheelers and dealers".  Am I expecting too much?

# Australian Real Estate Blog said on April 9, 2008 4:21 PM:

by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers