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'.
Rich emphasises that CAV will “continue its focus on ensuring that trust accounts are properly managed given they protect client funds. Trust accounting failures often indicated wider failings by agents in meeting all their responsibilities”.
The matter concerning the agent has been adjourned pending the Victorian Civil and Administrative Tribunal setting a date for a compulsory conference.
