Real estate agents on Sydney’s Northern Beaches have been fined more than $25,000 after a Fair Trading compliance blitz, Minister for Better Regulation Matt Kean said.
Mr Kean said Fair Trading officers had inspected 17 real estate agents, of which 12 were issued fines for non-compliance with real estate laws, including seven notices for breaching underquoting provisions.
“While buying a home is a wonderful milestone, it can also be a stressful experience – and the last thing I want to see is people getting a raw deal,” Mr Kean said.
Mr Kean said Fair Trading complaints data for the Northern Beaches had consistently shown reports of non-compliance with underquoting provisions.
“This latest blitz found real estate agents were failing to make written records of likely sales prices, or were representing likely sales prices far below what was expected – and that’s just not on,” Mr Kean said.
“It was also disappointing to see so many real estate agents failing to cut the mustard when it came to licensing and supervision requirements. In fact, just three of the 17 agents were compliant.”
Mr Kean said Fair Trading will continue to crack down on any rogue agents to ensure consumers are put first.
“I want to see real estate agents stepping up and meeting their obligations so consumers can be confident they’re being treated fairly,” Mr Kean said.
The real estate agents inspected during the operation were located in Manly, Mona Vale, Palm Beach, Avalon, Seaforth, and Newport.
For more information about real estate rules and regulations call Fair Trading on 13 32 20, or visit http://www.fairtrading.nsw.gov.au
