Real estate agents slammed as ‘insensitive’ to concerns over Percy Treyvaud Memorial Park development

REAL estate agents targeting concerned homeowners living near the site of Stonnington Council’s planned multimillion-dollar sport stadium in Malvern East have been slammed as “insensitive”. But have they overstepped the mark?

REAL estate agents targeting concerned homeowners living near the site of Stonnington Council’s planned multimillion-dollar sport stadium in Malvern East have been slammed as “insensitive”.

Letters signed by Buxton Ashburton agents Craig Harrison and Tama Mclean were delivered to properties surrounding Percy Treyvaud Memorial Park late last week, offering a “zero obligation, stress free appraisal” of the recipients’ homes.

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The letter claims “multiple homeowners” approached the agency with concerns about how the $36 million project would affect their property and advises them to get in touch if they were considering selling.

East Ward Councillor Glen Atwell slammed the letter as “bad business” and an attempt to drum up clients by playing on people’s fears regarding the project.

“At best it would be unethical and at worst it’s coercive. It’s preying on fear, it’s insensitive,” Cr Atwell said.

“I’d probably suggest the real estate agent go and read the feasibility study. They’re clearly not informed in the process and the detail.”

Stonnington Councillor Glen Atwell has slammed real estate agents who contacted homeowners worried about the planned multimillion-dollar sport stadium in Malvern East. Picture: Andy Brownbill

The letter reads: “We have had multiple homeowners approach us with their concerns of their home’s value throughout the construction, as well as after the completion of the project due to the increased amount of traffic and cars in the local vicinity, as well as the size of the proposed stadium,” it reads.

“If you are considering selling this year, or within the next two years, it may be in your best interest to assess where your property’s value currently sits and whether the construction will affect your real estate plans.”

Residents Against the Stadium spokesman Dean Hurlston estimated hundreds of people received the letter and said it was clear the agents were attempting to exploit homeowners.

“We’re very concerned that as residents our value of our homes will be impacted. I think it’s a marketing ploy to capitalise on people’s fears,” Mr Hurlston said.

He also said residents would seek compensation from the council if their home’s value dropped as a result of the project.

Buxton’s Craig Harrison said the letter was not intended to profit from residents fears, but rather offer advice to those seeking further information on their home’s value.

He said a previous client had contacted him to ask if the project would impact their home’s value, and so he decided to reach out to other homeowners in the area.

“Personally I think it (the stadium) will be good for the area. It wasn’t meant to be a negative letter,” he said.

Mr Harrison said no further flyers would be posted to residents referring to the project, however the real estate agency would continue its usual letterbox drops.