Consumer Affairs Victoria warns against failure to audit trust accounts

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Consumer Affairs Victoria warns against failure to audit trust accounts

12 September 2023

In a media release today, Consumer Affairs Victoria (CAV) has highlighted the consequences faced by agencies that fail to conduct audits of their trust accounts within the required annual period. CAV uses the example of recent legal action being taken against an agency after its directors failed to audit their trust account over several years, despite receiving reminders, a warning and infringement notices from CAV.

Agencies operating within Victoria must audit their client trust accounts within three months after 30 June every financial year.

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Western Australia Consumer Protection urges tenants to report racist behaviour after agent reprimanded and suspended

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Western Australia Consumer Protection urges tenants to report racist behaviour after agent reprimanded and suspended

8 September 2023

Western Australia (WA) Consumer Protection has announced on its website today that it has taken action against a Victoria Park real estate agent for sending an email “littered with racist and offensive language“ to their former tenants regarding the disposal of their security bond.

The agent was reprimanded and personally suspended by the WA State Administrative Tribunal for eight months from 1 September 2023.

WA Consumer Protection reports that the offending email centred around the agent’s harmful and racist views towards persons of Indian background.

Please note: The text within contains references/quotes to the suspended agent’s comments and may cause offence or distress to some readers.

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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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Victorian estate agent has licence cancelled for various breaches

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Victorian estate agent has licence cancelled for various breaches

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. 

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Western Australia Consumer Protection issues $16,000 in fines over unregistered sales representative

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Western Australia Consumer Protection issues $16,000 in fines over unregistered sales representative

24 November 2022

Western Australia Consumer Protection has published a tribunal outcome on its website this week, detailing disciplinary action taken against a Perth agency for breaches under the Real Estate and Business Agents Act 1978. The breaches involved improper supervision of the agency and an unregistered individual working as a sales representative, who was found to also be accepting commission payments.

The disciplinary action was administered in the form of $16,000 worth of fines to the persons involved.

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Tasmanian agent has licence suspended, ordered to pay a total of $12,500

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Tasmanian agent has licence suspended, ordered to pay a total of $12,500

16 November 2022

The Property Agents Board of Tasmania (‘The Board’) has published a recent tribunal decision on their website this month. The redacted tribunal outcome details disciplinary action taken against an agent for improper operation as a licensed property agent while engaged to manage the rental properties of four separate clients.

The Board’s complaints against the property agent relate to “conduct not of a reasonable standard of competence and diligence,” and claim that the agent was guilty of ‘professional misconduct’ and ‘unsatisfactory professional conduct’ as defined under section 83 of the Property Agents and Land Transactions Act 2016.

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