LRE Today Tonight 2010.mp4

This is a Today Tonight report on the "quiet revolution in real estate" being led by Melbourne lawyer Peter Mericka and his law firm Lawyers Real Estate. However, three corrections are required:

1. The video commences with a sign displaying the words "For Sale By Owner". No part of the Lawyers Real Estate sale process has the owner involved in the sale process. The sale is negotiated on behalf of the owner by a qualified lawyer, and the sale is not finalised before the owner has received legal advice, and has provided instructions to the lawyer negotiator.

2. The narrator, in describing the Lawyers Real Estate approach says, "The only catch, if you can call it that, is showing potential buyers through the property yourself." It is quite incorrect to describe this as a "catch", as the opposite is true. If there is a "catch" in selling real estate, it is where the seller is required to relinquish control of the property to the real estate agent, while the real estate agent "introduces" potential purchasers. The taking of control away from the owner by the real estate agent is solely for the purposes of satisfying the "introduction" requirement of the estate agency agreement. Allowing sellers to remain in control of their property eliminates, rather than creates, a "catch".

3. CEO of the Real Estate Institute of Victoria, Enzo Raimondo, implies that the "educational" and "legal" requirements that real estate agents are required to meet, are not met by Peter Mericka, a qualified legal practitioner. This statement is patently false, as all lawyers, including Peter Mericka, are required by law to possess educational and legal qualifications that far exceed those required of real estate agents.

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• LRE Today Tonight 2010
• Real Estate
• Lawyers Real Estate
• Lawyers
• Melbourne
• Victoria
• Australia
• Peter Mericka