Buying a house is stressful enough without having to worry if the agency you’re going through is omitting certain truths about the condition of the property. The NSW government plans to make this less of an issue by requiring real estate agents to make available all reviews a property may have been subjected to.
As Sean Nicholls over at the Sydney Morning Herald writes, NSW is looking to make changes to the Property, Stock and Business Agents Regulation 2014 that will force agents to “keep a disclosure log” of reports so they can’t just pick the most favourable of the bunch.
In addition, the reports will have to be accompanied by contact information and identify who conducted the report.
The article mentions that the changes will help collaborative report-purchasing businesses such as Before You Bid, which allow you to get cheaper inspection reports depending on how many other prospective buyers have also bought in.
The changes should come into effect starting July.