Real estate agents now liable to $100,000 payouts for misinformation – NZ Herald
“The Covid-19 response in the last three months of the 2019/20 financial year resulted in many issues and problems for real estate consumers, especially those in the middle of a transaction. This is likely to have led to an increase in reported issues and problems,” the authority’s annual report said.
Failure by vendors to disclose information about issues with a property to buyers is a key problem.
The authority aims to resolve 90 per cent of all complaints within a year but it only achieved 88 per cent on that measure.
