March 27, 2023

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

March 27, 2023/ Macdonald Education

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.

March 22, 2023

ACT tenancy reforms to commence on 1 April 2023

March 22, 2023/ Macdonald Education

22 March 2023

In late 2022, the ACT Government announced plans to make changes to the current Residential Tenancies Act 1997 (the Act). In a media release this week, it has been confirmed that changes to tenancy legislation for the Territory will include:

The removal of ‘no cause’ evictions,
Prohibiting landlords and agents from asking for or encouraging rent bids,
Allowing tenants greater freedom to grow their own food and to compost, and
Creating a framework to support the future introduction of minimum housing standards for rental properties.

The changes are due to commence on 1 April 2023.

March 08, 2023

March 2023 Newsletter

March 08, 2023/ Macdonald Education

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?

March 08, 2023

NSW assistant agents, are you on track to complete your licence training?

March 08, 2023/ Macdonald Education

7 March 2023

As a NSW certificate of registration holder undertaking Class 2 licence training, we wanted to remind you of the obligations NSW Fair Trading requires you to meet.

March 03, 2023

NSW Fair Trading inspectors to crack down on breaches in new rental bidding requirements

March 03, 2023/ Macdonald Education

3 March 2023

In their latest Property Matters issue, NSW Fair Trading has announced how they plan to effectively monitor the behaviour of agents following the recent ban on solicited rent bidding. From late March, inspectors will be reviewing online rental applications, in addition to attending open homes, to identify instances of non-compliance with the ban.

February 24, 2023

Victorian estate agent has licence cancelled for various breaches

February 24, 2023/ Macdonald Education

24 February 2023

A former agent of Seymour, Victoria has had their licence revoked by Consumer Affairs Victoria (CAV). The licence cancellation was actioned as a part of disciplinary proceedings at the Victorian Civil and Administrative Tribunal (VCAT) in 2021, where it was alleged that the agent:

failed to comply with a condition imposed on their licence;
failed to cause their trust accounts to be audited annually for the financial years from 2012 to 2021;
failed to, at all times, act fairly and honestly and to the best of their knowledge and ability in performing their functions as an agent; and
engaged in conduct that was unprofessional or detrimental to the reputation or interests of the agent’s industry.

February 21, 2023

WA agents, have your say on changes to real estate CPD

February 21, 2023/ Macdonald Education

15 February 2023

The Western Australia Department of Mines, Industry Regulation and Safety (DMIRS) has announced it will be undertaking a review of the current real estate Continuing Professional Development (CPD) program.

A consultation paper based on an internal review by Consumer Protection has been published for public consideration.

February 20, 2023

Former WA real estate agent fined for personal use of trust account funds

February 20, 2023/ Macdonald Education

20 February 2023

Western Australia Consumer Protection has published a recent court outcome on its website, outlining the misuse of trust account funds by a former East Perth agent. The former agent’s misconduct involved a deposit from a real estate sale being transferred to the general agency account, before being sent to two personal bank accounts: a personal credit card account and a home loan offset account.

Disciplinary action in the form of almost $4,000 in fines was administered by the Perth Magistrates Court for the unlawful withdrawal of funds from the agency’s trust account.

February 07, 2023

Are you an ACT agent who deals with developers? Have your say on developer regulation

February 07, 2023/ Macdonald Education

7 February 2023

Are you an agent in the ACT who deals with property developers? As key property industry stakeholders, real estate agents bring valuable community insight and perspective when it comes to new property developments.

The ACT Government has announced in a recent media release that they have opened consultation with the community to ask for its views on a discussion paper that considers a range of issues and proposes different options for developer regulation.

The discussion paper looks at a range of approaches to improving the accountability of developers and providing consumers with greater information about developments and the developers behind them.

February 03, 2023

February 2023 Newsletter

February 03, 2023/ Macdonald Education

3 February 2023

Newsletter snapshot:

Site-wide discount code!
Industry updates: NT Government announces new rent framework to strengthen remote housing sector.
Disciplinary action: Western Australia Consumer Protection issues fines to agent over unauthorised trust account withdrawals, Former Victorian estate agent investigated for falsified records and misuse of trust account funds.
Important dates: NSW CPD due 22 March, WA trust account audit reports due 31 March.

February 01, 2023

NT Government announces new rent framework to strengthen remote housing sector

February 01, 2023/ Macdonald Education

1 February 2023

The Northern Territory Government has announced in a media release this week that it will be rolling out a ‘Remote Rent Framework’, with the aim of providing financial sustainability to “complement the Territory Labor Government’s $2.1 billion remote housing program that includes the construction and upgrade of homes across the NT as well as civil infrastructure.”

The transition to the new rent model will take place for tenants in remote areas (including community living areas in Tennant Creek) on 6 February.

January 30, 2023

Former Victorian estate agent investigated for falsified records and misuse of trust account funds

January 30, 2023/ Macdonald Education

30 January 2023

Consumer Affairs Victoria (CAV) is acting against a former estate agent for the alleged falsification of records and misuse of more than $17,000 in trust account funds.

The former agent’s employer conducted an internal investigation upon identifying the discrepancy in funds and subsequently contacted CAV to report the issue. The trust account funds were restored using the agency’s company operating account.

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