Tsun Ngai Lee (trading as Ably Realtor Worldwide Agency) - Court outcome

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30 April 2019
Court actions

An estate agent trading as Ably Realtor Worldwide Agency has been reprimanded, and has had a condition placed on his licence, after breaching his duties under the Estate Agents Act 1980 and its regulations.

Tsun Ngai Lee, 59, of Caroline Springs, agreed that, among other things, he did not:

  • record required information in:
    • a register of trust cheques
    • a trust account cash receipts journal; and
    • trust ledger accounts 
  • have his trust accounts audited within the required timeframe
  • keep money in the trust account until it was paid to the person entitled to it
  • at all times act fairly and honestly in his capacity as an estate agent.

Mr Lee also agreed that he had engaged in conduct detrimental to the estate agent industry.

Our staff identified the breaches during inspections at Ably Realtor Worldwide Agency.

The matter was heard at the Victorian Civil and Administrative Tribunal. 

The tribunal ordered that a condition be placed on Mr Lee’s licence prohibiting him from handling trust monies or operating an estate agency trust account until he:

  • completes two Real Estate Institute of Victoria training courses, and
  • arranges for a qualified professional to develop a compliance program, to ensure he understands and complies with his legal obligations.