The $418 million judgment and turn away from the multiple listing service and automatic commissions will help the industry evolve, a professional argues.
The warning comes as the government’s plan to abolish ground rents remains missing in its leasehold reform bill, which is set to be debated in the Lords.
The Reserve Bank says households are surviving its repeated interest rate rises, but three percent of owner occupiers are now in a serious financial trouble.
While the Multiple Listing Service (MLS) may not be perfect, abandoning this model is fraught with serious problems, real estate industry professionals say