crackdown on dodgy nsw real estate agents

...and now for something our spruikers would know off from own experiences............


Crackdown on dodgy NSW real estate agents

Undercover officers from NSW Fair Trading have blitzed auction sites as part of a crackdown on dodgy real estate agents.
NSW Fair Trading Minister Anthony Roberts says there are concerns some agents are operating without licences and engaging in deceptive behaviour.

A number of real estate agents have been prosecuted for helping themselves to trust account funds and others are under investigation.

There's also evidence some agents are undervaluing properties to buyers and overvaluing to sellers.

"We have educated, we have warned and now Fair Trading is stepping up enforcement activities against real estate agents doing the wrong thing," he said in a statement on Sunday.

"Agents underquoting, dipping into their trust accounts or operating without a licence will be subject to the full force of the law."

Undercover inspections were conducted at 44 auctions across three weekends in October and November, with six more auctions inspected on Saturday.

Fair Trading officers will continue to visit auctions over the next 12 months.

Real estate businesses operating without a licence face fines of up to $22,000, with $11,000 fines for individuals trading without a licence.

Mr Roberts said 59 agents had been disqualified this year.

Thirty-three agents are being investigated for trust account issues.

Agents face up to 10 years in prison for accessing trust accounts.


http://news.ninemsn.com.au/national/2012/11/25/09/00/crackdown-on-dodgy-nsw-real-estate-agents