The Real Estate Information Centre

Slater & Gordon - Too Great To Challenge?

Peter Mericka — Mon, 23 Apr 2012 02:48:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd When Slater & Gordon lawyer Pieter Kruger publicly declared that he had engaged in conduct recently found by the Supreme Court of Victoria to be illegal, and challenged me to report him to Consumer Affairs Victoria, it was not simply a matter of one lawyer debating another. Rather, Mr. Kruger's taunt was a challenge to Consumer Affairs Victoria and the Supreme...(read more)

Mericka Conviction Quashed!

Peter Mericka — Thu, 29 Mar 2012 22:01:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd The Australian Financial Review has today published an article which reports my "conviction" for misleading conduct. This conviction has now been quashed - by me. Like Mark Twain, who was forced to declare publicly that reports of his death had been greatly exaggerated, I am now forced to declare that reports of my having been " convicted in the Victoria Supreme Court...(read more)

Consumer Affairs Victoria v Peter Mericka - Court Rules In Favour of CAV

Peter Mericka — Tue, 27 Mar 2012 02:00:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd A 10 year battle comes to an end. Judgement in the matter of Dr Claire Noone, Director of Consumer Affairs Victoria v Peter Mericka & Ors was handed down today (27 March, 2012). The Court ruled entirely in favour of CAV. I will have more to say about this in due course. For the moment, I would like to thank all of those who offered support and encouragement over...(read more)

Ending the entrenched real estate racket

Peter Mericka — Tue, 20 Mar 2012 23:54:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd Finally, we have a real estate industry commentator who is independent enough to describe the industry as it really is. Consumer Affairs Victoria and print media reporters take note! The Corrupting Effect of Conflicting Interests Philip Soos is a researcher at the School of International and Political Studies at Deakin University. In this article Mr. Soos confirms...(read more)

CONSUMER AFFAIRS VICTORIA v PETER JOHN MERICKA & ORS

Peter Mericka — Wed, 14 Mar 2012 07:39:00 GMT

After a decade of representing vendor clients in the sale of their properties, and after two years of court preparation and the incurring of massive legal costs, the matter of DR CLAIRE NOONE, DIRECTOR OF CONSUMER AFFAIRS VICTORIA and PETER JOHN MERICKA & ORS has been listed for judgment on Friday 23 March, 2012. CAV and the estate agent monopoly It is almost 10 years since first I offered consumers a genuine alternative to the corrupt and hugely expensive real estate agent monopoly regulated...(read more)

Remax Calling - Lucrative Commissions For Real Estate Agents Everywhere!

Peter Mericka — Wed, 07 Mar 2012 10:31:00 GMT

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au This unsolicited letter is currently being sent by email to Re/Max agencies around the world: “As a fellow Re/Max Broker, I'm writing to ask if you or perhaps a colleague might be interested in a U.S. referral opportunity in Chicago. Many International real estate investors are purchasing cash flowing houses, condominiums, and apartment buildings at 50% of what they were once selling for in Chicago. Couple...(read more)

Court Finds Solicitor Forged Wife's Signature

Peter Mericka — Tue, 21 Feb 2012 23:29:00 GMT

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au During 2008 the Commonwealth Bank made loans totalling $13.5 million to Matthew Perrin, his wife Nicole and their family company. Among other securities, the bank relied on guarantees and mortgages apparently signed by Nicole. Some of these encumbered Perrins’ (previously unencumbered) sprawling Cronin Island family home held in Nicole’s name. Within six months Matthew, but not Nicole, was bankrupt. When the...(read more)

Luxury River-Front Property For Sale - Flooded Only Once (Or Twice)

Peter Mericka — Tue, 31 Jan 2012 19:54:00 GMT

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au What do you do when a property you have contracted to sell is damaged (by flood, fire or whatever) before settlement? What do you do if you are the buyer of that property? These critical questions arose for more than a few sellers and buyers across Queensland during the State’s extensive flooding of December 2010 and January 2011. A year later, with Queenslanders currently remembering and revisiting those...(read more)

Three Tales of Deceitful Real Estate Agents Successfully Sued

Peter Mericka — Thu, 12 Jan 2012 19:56:00 GMT

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Real estate agents are rarely prosecuted or sued. Sure, we regularly hear about misbehaviour in the real estate industry and occasionally a real estate agent appears in court, but this is a rarity compared to the level of misbehaviour and misconduct encountered by consumers on a day to day basis. The reason for the low rate of court actions against real estate agents is the reluctance of consumers or their...(read more)

Consumer Affairs Victoria - Lame Response to Corruption Allegation

Peter Mericka — Mon, 03 Oct 2011 06:32:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd In my last blog posting I wrote about Consumer Affairs Victoria's failure to address bribe induced corruption in the real estate and conveyancing industry. I concluded that posting by saying that I had written to Consumer Affairs Victoria (CAV) again, drawing attention to my blog posting, and promising that I would publish CAV's response. The response that I received...(read more)

Why Corruption Flourishes Under Consumer Affairs Victoria

Peter Mericka — Mon, 12 Sep 2011 19:41:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd Consumer Affairs Victoria (CAV) has a sorry history when it comes to regulating Victorian real estate agents and, in more recent times, licensed conveyancers. It is one thing to be powerless to stop corruption, however it is something completely different when the government regulator not only fails to act, but also refuses to investigate. In this article I will explain...(read more)

Real Estate Regulators - No Fault With Real Estate Agent's Caveat Clause

Peter Mericka — Thu, 28 Jul 2011 07:21:00 GMT

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Not only had the buyers purported to “charge” the property with the seller’s agent’s commission liability while consequently consenting to the agent’s lodgement of an instrument-stopping caveat over the title, but also the seller had “irrevocably” authorized and directed the buyers’ solicitor to pay this commission at settlement. After reading Peter Mericka’s excellent blog post, Conveyancing Consumer alert-...(read more)

Let Me Invite You To Google+

Peter Mericka — Sat, 23 Jul 2011 00:54:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd Readers may or may not be aware that Google has announced a new social networking facility that will compete wit Facebook, but is entirely different. Google+ in a nutshell Google+ has similar functions to Facebook, such as sending messages to friends, sharing links, chatting, and sharing pictures, but the big difference is that with Google+, you can choose who you...(read more)

Conveyancing Consumer Alert - Beware of the Sneaky Stamp!

Peter Mericka — Wed, 13 Jul 2011 23:04:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd Real estate agents have no automatic right to lodge a caveat over a client's property to secure the payment of commission. So some cunning real estate agents are adding a clause to the agency contract by which the client gives the real estate agent permission to lodge a caveat. If a real estate agent adds a caveat clause, the client may be able to argue that the conduct...(read more)

Lawyers Selling Real Estate - It's Time!

Peter Mericka — Wed, 06 Jul 2011 05:51:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Consumer Advocate Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd I would like to hear from lawyers who would be interested in selling real estate in competition with real estate agents. This is a service offered by lawyers in a number of other countries, and it is time to develop the concept here in Australia....(read more)

Commission Rage - Real Estate Rabies

Peter Mericka — Sat, 25 Jun 2011 01:14:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Consumer Advocate Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd Rabies is a terrible affliction. It can can quickly turn a friendly family pet into a belligerent biting beast. Commission rage can have a similar affect on real estate agents, changing them from ordinary salespeople into cruel and manipulative bullies. Like rabies, commission rage cannot be treated. However, early detection means that...(read more)

Silence Is Not Golden In Real Estate Negotiations

Peter Mericka — Wed, 22 Jun 2011 23:53:00 GMT

OPINION by George Rousos Director Industry Training Consultants george@itc.nsw.edu.au François-Marie Arouet, better known by the pen name Voltaire, was a French writer and philosopher famous for his wit and for his advocacy of civil liberties, including freedom of religion and free trade. Voltaire was a prolific writer and produced works in almost every literary form including plays, poetry, novels, essays, historical and scientific works, more than 20,000 letters and more than 2,000 books and pamphlets....(read more)

Conveyancing Consumer Alert: Art Deco Disappointment

Peter Mericka — Mon, 20 Jun 2011 20:49:00 GMT

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au This story does not end, as many do, in a court case. But it begins, as many do, with a property advertised for sale: "Charmingly preserved Art Deco features abound in this ground floor cavity brick apartment. Ornate plaster ceilings and cornices, wide skirting boards and architraves, polished timber floors all lovingly presented. Two bedrooms – one with access to the study, a large, light, eat-in kitchen...(read more)

Peter Mericka Explains - My Problem With Real Estate Agents

Peter Mericka — Sun, 12 Jun 2011 00:49:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd This is my first attempt at video blogging. Please provide me with your feedback, and any tips you have to offer on improvements I can make for future video blog postings. I've tried to keep it informal and simple (note the open-necked shirt and unscripted delivery), but I'll be guided by readers as to what's best. To view the video CLICK HERE...(read more)

If Governments Trust Estate Agents, Why Shouldn't Consumers?

Peter Mericka — Wed, 18 May 2011 23:48:00 GMT

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au To my mind agents particularly should be prohibited from giving buyers so much as a bus timetable, and from recommending even the local Chinese restaurant. Needless to say, solicitors and other service providers to residential buyers should also be prohibited from acting if they are not independent of everyone else involved in the transaction. A recent edition of Australian Property Investor Magazine ( http://www.apimagazine.com.au/...(read more)

Enzo Raimondo & REIV - Misleading Advice On Property Valuations

Peter Mericka — Sun, 06 Mar 2011 22:18:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd Enzo Raimondo is the CEO of the Real Estate Institute of Victoria (REIV), but he is not a lawyer. In fact, Mr. Raimondo is not even a licensed real estate agent, and he is certainly not a qualified real estate valuer. So why is Mr. Raimondo telling consumers about the role(s) of professional real estate valuers? Enzo Raimondo, CEO of the REIV, has a regular column...(read more)

Estate Agents Covering Up Failed Campaigns

Peter Mericka — Sun, 06 Mar 2011 00:50:00 GMT

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd It you can't make it, then fake it. In the real estate game this translates as a withholding of information so that the public will inevitably draw false conclusions. Real estate agents are always keen to trumpet their triumphs. We see all kinds of statistics about clearance rates, sales before, sales after etc. etc.; none of which have any real relevance to the average...(read more)

Real Estate Agent Questions Industry Value

Peter Mericka — Fri, 25 Feb 2011 17:39:00 GMT

by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd "As it stands, Real Estate is the only consumer industry that manages to command percentage fees on selling prices. In an era where average agents will gradually be squeezed out by the internet, it’s a wonder the most costly agents have not been first on the chopping block! " This is one of the observations made by Michael Atwell, a real estate agent with 20 years' experience,...(read more)

Costly Court Ruling On Commercial Tenant's Unauthorised Alterations

Peter Mericka — Sun, 20 Feb 2011 22:28:00 GMT

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Despite a lease clause prohibiting alterations without the landlord’s consent, an office building tenant redesigned and replaced the foyer of the building without consent. The High Court found the landlord entitled to more than a million dollars in damages to cover not only the cost of reinstating the foyer but also rent lost in the process. Because the landlord was particularly taken with the foyer, which...(read more)

Forget the Insurers, Let's Blame the Banks

Peter Mericka — Tue, 15 Feb 2011 19:05:00 GMT

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au The blame for many uninsured property and financial losses resulting from floods and from Cyclone Yasi can be sheeted home to banks, building societies, credit unions and other lenders. Never mind the much-vilified insurance companies whose doubly-devastated policy-holders have found themselves not covered for flood or storm surge damage. While more than a few insurers may have failed to demonstrate any “utmost...(read more)