REAL ESTATE AGENT FINED FOR DISHONESTY

A HerveyBay real estate agent has been fined $2000 for failing to advise clients about his personal financial interest in the purchase and sale of a house in 2005.

Philip John Dickins, 54, pleaded guilty in Hervey Bay Magistrates Court to one count of beneficial interest. He was fined and ordered to pay court costs.

Fair Trading Minister Margaret Keech said the prosecution highlighted the Beattie Government’s commitment to cleaning up the real estate industry.

“Dishonest traders will have their day in court,” said Mrs Keech.

“The Property Agents and Motor Dealers Act 2000 states that if a real estate agent receives a beneficial interest from a property, they must inform the buyer and seller.

“In this case, Dickins purchased the Point Vernon property in HerveyBay from a client for $200,000 and failed to disclose himself as the director of the purchasing company, Caltowie Nominees Pty Ltd. He on-sold the property less than a month later for $230,000.

“During this time, he also withheld the details of his dealings from his employer, who is the licensee of the real estate office.

“The licensee became aware of the dealings during a routine internal audit and subsequently lodged a complaint with the Office of Fair Trading.

“The licensee also paid the original owner $30,000 in compensation for the difference in the subsequent sale price.”

Mrs Keech said laws are in place to protect consumers from unprofessional and dishonest conduct.

“Magistrate Graeme Tatnell said the Court should view any breach of this nature seriously because the legislation existed to protect vendors listing property with real estate agents, who are in a high position of trust, to do the best for vendors,” she said.

“This case should serve as a deterrent to any real estate agent and salesperson who think they can get away with being dishonest.”

For more information on real estate agent obligations, visit www.fairtrading.qld.gov.au.

Media contacts: David Smith 3225 1005 / 0409 496 534 or Julie Struber 3119 0066