Victorian estate agent facing disciplinary action for poor conduct

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Victorian estate agent facing disciplinary action for poor conduct

4 September 2023

An estate agent in Victoria is alleged to have failed to have their trust accounts audited on a yearly basis for several years, according to Consumer Affairs Victoria (CAV) in a media release published today.

Consumer Affairs Victoria Director Nicole Rich commented on the issue, stating, ‘real estate agents operate in a position of trust within the community. They’re responsible for facilitating the biggest financial undertakings many people make in their lifetime - buying their own home,’ and 'Consumer Affairs Victoria will continue to investigate and take action against agents who break that trust and tarnish the industry’s reputation'.

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Former Victorian agent faces over 900 charges relating to trust fund misuse

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Former Victorian agent faces over 900 charges relating to trust fund misuse

27 March 2023

In a media release this week, Consumer Affairs Victoria (CAV) outlines the staggering number of trust account breaches achieved by a now-former agent of Dandenong, Victoria. A total of 941 instances of trust fund misuse were identified by CAV after the then-agent decided to report their own personal use of trust funds by letter and phone.

It is alleged that approximately $75,000 in trust account funds were fraudulently converted for the agent’s personal use, between 12 March 2019 and 10 January 2020, while trading as Agent 96 Real Estate.

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March 2023 Newsletter

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March 2023 Newsletter

8 March 2023

Newsletter snapshot:

  • Site-wide discount code!

  • Industry updates: WA agents may have their say on changes to real estate CPD, NSW Fair Trading inspectors to crack down on breaches in new rental bidding requirements.

  • Disciplinary action: Former WA real estate agent fined for personal use of trust account funds, Victorian estate agent has licence cancelled for various breaches.

  • Legislative changes: ACT Government announces plans to change property developer legislation.

  • Important dates: NSW CPD due 22 March, WA trust account audit reports due 31 March, NSW assistant agents - are you on track to complete your licence training?

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