A real estate agent with a history of mishandling clients’ money has lost his licence to practise for 12 months.
Thomas Henry Albert Aloysius, 52, of Hallam, was a director of former estate agent, Hills and Fort Real Estate Pty Ltd, when he failed to meet key legal requirements under the Estate Agents Act.
Aloysius breached 2 licence conditions:
- He failed to notify the Business Licensing Authority within 24 hours of having criminal charges brought against him, instead waiting more than eight months.
- He remained a signatory to the company’s trust account while being prohibited.
Aloysius also allowed Hills and Fort Real Estate to trade unlicensed for more than eight months and to keep trust money for sales transactions in a trust account that was not in the company's name.
Hills and Fort Real Estate previously traded under the business names Freedom Realtors, Smart Negotiators and freedomproperty.com.au - Smart Negotiators.
The VCAT action against Aloysius followed his previous failure to correctly handle client funds, while working for another agency. As an agent’s representative, he accepted a $20,000 deposit from a purchaser into his personal account, rather than the agency trust account. He was convicted and fined in 2021.
Consumer Affairs Victoria continues to target the way estate agents manage trust account money. It is currently prosecuting estate agent Daniela Vella and Mark Alexander Reuben for allegedly mismanaging more than $230,000 and $400,000 of clients’ trust money, respectively. Both held senior roles in the agencies they were working for at the time of their alleged offences.
If you are considering selling your property, check an agent’s licence status on the estate agent public register before you engage them.
Read more about the professional conduct obligations of estate agents.