A Sunshine-based estate agency, which allegedly traded while unlicensed, faces up to $165,220 in potential fines.
Kamn Real Estate Pty Ltd also faces charges of failing to notify the Director of Consumer Affairs Victoria (CAV) within 14 days of opening a statutory trust account and failing to meet an inspector’s investigation requirements, as required under the Estate Agents Act.
People who lose money due to licensed estate agencies breaking the law can access compensation from the Victorian Property Fund – but those who unwittingly engage the services of an unlicensed agent are not protected.
CAV Director Nicole Rich said the case highlighted the importance of only dealing with a licensed estate agent.
CAV would continue to identify and pursue agents and agencies that failed to meet their responsibilities, Rich said.
“We will act to protect buyers, vendors and the industry from unprofessional and unlawful conduct.”
CAV has started court proceedings against Kamn Real Estate Pty Ltd and the company will appear in court at a future date.
Check that the Victorian estate agent you’re dealing with is licensed using our public register.