Case study : Milo has been selling residential property over the past 4 years with great success. Milo holds a current agents representative certificate and is employed as a salesperson with a...

Case study : Milo has been selling residential property over the past 4 years with great success. Milo holds a current agents representative certificate and is employed as a salesperson with a reputable franchisee. Milo has won ‘highest achiever in property sales’ award 2 years running. Milo is well liked and respected in the area and is known for his honesty and ethical conduct.Recently Milo listed a property he has been working on for almost a year. The property is situated in a highly desirable street and is the perfect home for a growing family. Milo has quite a few buyers lined up whose purchasing criteria meet this property. However, the vendor would like to advertise the property and hold an open home to gauge the response.Milo sits down with the vendor to discuss advertising and agreed on a ½ page ad in the local paper with 6 photos and the property description displayed in bullet points. Milo is concerned about one of the bullet points – ‘quick walk to train station’. He estimates the train station is at least a 45 to 60 minute walk and advises the vendor this statement may be misleading.Look at the Australian Consumer Law particularly unfair business practices (Australian Consumer Law - Vol 3 Unfair Practices) and the Victorian Consumer Affairs website (False or Misleading Representations
Questions
Provide a detailed explanation of the following in your own words:
1) The provisions of the new Australian Consumer Law with respect to false and misleading representations,2). Victorian Consumer Affairs guidelines relating to misleading advertising, and3) What agents must be aware of when producing advertising or marketing material under both the state and federal legislation