Real estate agents told to better explain how multi-offers work.
Estate agents have been put on notice by the Real Estate Agents Authority to ensure sellers understand the complexities of multiple offers for their property.
The REAA says multi-offer situations can be confusing and it continues to receive complaints about them from the public.
It now wants selling agents to not only provide information about the multi-offer process, but to also make sure potential buyers understand the implications of being involved in these situations.
Sales figures from Harcourts show it had a good May with 745 sales written up by the firm. However, it has 15 per cent fewer homes on its books than May 2014, with 1581 properties currently being marketed by the firm.