Agent facing suspension over missed trust account audits

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21 May 2024
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A Williams Landing real estate agency and its director are facing disciplinary action after failing to audit their trust accounts.

James Anthony Ferris, 54, was the Officer in Effective Control of James Ferris Property Pty Ltd (ACN 612 109 789) at the time of the alleged conduct.

We are taking disciplinary proceedings against Ferris in the Victorian Civil and Administrative Tribunal, alleging that he failed to complete trust account audits between 2018 and 2023.

Failing to audit trust accounts is a serious breach of the Estate Agents Act 1980 and hinders our ability to determine if an agent has met their trust account responsibilities.

We also allege that Ferris and his agency:

  • failed to act fairly and honestly, and
  • engaged in conduct that was unprofessional or detrimental to the reputation or interests of the real estate industry.

Ferris and his company face the possibility of their estate agent licence being suspended or cancelled.

The matter is listed for an administrative mention on 7 June.