REAL ESTATE AGENT BANNED FOR LIFE
Published Friday, 10 August, 2007 at 01:44 PM
Minister for Tourism, Fair Trading, Wine Industry Development and Women
The Honourable Margaret Keech
A Hervey Bay real estate agent has been banned for life after he failed to declare he was director of a company that bought a property from one of his employer’s clients.
Fair Trading Minister, Margaret Keech, said Philip John Dickins, of Uraween, committed a serious breach of trust resulting in financial gain.
“When handing down its decision the Commercial and Consumer Tribunal described him as ‘devious’,” Mrs Keech said.
“The penalty handed to Mr Dickins should be a warning to others in the industry that agents will not get away with deceiving their clients.
“Mr Dickins was the director of Caltowie Nominees Pty Ltd when the company bought a Point Vernon house for $200,000.
“As the director of the purchasing company, he illegally charged the vendor commission on the sale. The company sold the property less than a month later for $230,000.
“He knew it was illegal for a person acting as a real estate agent or sales person to gain a beneficial interest from the sale of property on their books, unless full disclosure of the interest was first made clear to the vendor.
“Vendors should not be out of pocket as a result of this kind of deal. The client should certainly not have to pay commission to the person or company who is buying the property.
“Mr Dickins was prosecuted under the Property Agents and Motor Dealers Act 2000, losing his registration certificate and paying more than $3,000 in fines and costs.
“Mr Dickins withheld the details of his dealings from his employer, who was the licensee of the real estate office.
“His employer became aware of the suspect dealings during an internal audit, and lodged a complaint with the Office of Fair Trading.
“Laws are in place to protect consumers from this kind of unprofessional conduct.”
For more advice about the obligations of real estate agents and salespeople, visit the Office of Fair Trading website to download a free copy of the Real Estate Agency and Sales Practice Good Business Guide.
Media contact: Peter McCarthy 3225 1005
Fair Trading Minister, Margaret Keech, said Philip John Dickins, of Uraween, committed a serious breach of trust resulting in financial gain.
“When handing down its decision the Commercial and Consumer Tribunal described him as ‘devious’,” Mrs Keech said.
“The penalty handed to Mr Dickins should be a warning to others in the industry that agents will not get away with deceiving their clients.
“Mr Dickins was the director of Caltowie Nominees Pty Ltd when the company bought a Point Vernon house for $200,000.
“As the director of the purchasing company, he illegally charged the vendor commission on the sale. The company sold the property less than a month later for $230,000.
“He knew it was illegal for a person acting as a real estate agent or sales person to gain a beneficial interest from the sale of property on their books, unless full disclosure of the interest was first made clear to the vendor.
“Vendors should not be out of pocket as a result of this kind of deal. The client should certainly not have to pay commission to the person or company who is buying the property.
“Mr Dickins was prosecuted under the Property Agents and Motor Dealers Act 2000, losing his registration certificate and paying more than $3,000 in fines and costs.
“Mr Dickins withheld the details of his dealings from his employer, who was the licensee of the real estate office.
“His employer became aware of the suspect dealings during an internal audit, and lodged a complaint with the Office of Fair Trading.
“Laws are in place to protect consumers from this kind of unprofessional conduct.”
For more advice about the obligations of real estate agents and salespeople, visit the Office of Fair Trading website to download a free copy of the Real Estate Agency and Sales Practice Good Business Guide.
Media contact: Peter McCarthy 3225 1005