Material Fact Guidelines - Available Now

Date: 2 Mar 20

Following our notification to Members on Friday 29th February, Consumer Affairs Victoria released the new Material Fact Guidelines on Sunday the 1st of March 2020.

Estate agents must now consider these in all sales transactions - commercial and residential.

It is currently impossible to know or anticipate the extent to which a Court is likely to give regard to the Guidelines. This will develop over time once the issue has been tested before a Court. The lack of clarity by Government means that it is essential that all real estate professionals (residential and commercial) familiarise themselves with the new Guidelines.

The REIV has been successful in influencing some updates to the earlier draft Guidelines proposed by CAV. The document "Information for Members" provided below, includes excerpts to highlight certain key aspects of the Guidelines, the updates made based on feedback from the REIV and clarifications provided by CAV in response to REIV queries. 

The REIV will soon be releasing a Checklist that Members may use for assistance with adhering to the Material Fact Guidelines. Update 18 March 2020 - Checklist Available Now

INFORMATION FOR MEMBERS

CAV GUIDELINES

SEND US YOUR FEEDBACK 

REIV MATERIAL FACT CHECKLIST