Vic real estate agent admits underquoting

A Melbourne real estate agency based in the sought after suburb of Richmond has admitted it underquoted on properties.

Hocking Stuart Richmond was accused of 11 contraventions of Australian Consumer Law relating to deceptive conduct and misleading representations relating to land sale.

Tony Nolan QC, for the agency, told the Federal Court Hocking Stuart would be "admitting every fact" during a hearing on Thursday.