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Estate agent banned 5 years

By Staff Reporter
21 August 2009 | 1 minute read

A Mullumbimby estate agent has had his real estate license revoked for exploiting the trust of an elderly client, The Northern Star reported.

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Sean Kenny of Sean Kenny Real Estate was disqualified from holding a license for five years after an investigation by the Office of Fair Trading found he had pocketed $240,000 from the resale of his client’s property.

According to a complaint lodged with the Office of Fair Trading, Mr Kenny purchased a parcel of land from an elderly seller, who he was representing at the time, for $350,000.

Three days after settlement, Mr Kenny’s company, Bale Building Company, relisted the property as two parcels of land worth $328,000 each.

Mr Kenny eventually sold both parcels of land for a combined total of $590,000.

“Mr Kenny exploited the trust of an elderly client for his own financial gain,” a Fair Trading spokesperson told The Northern Star.

“As a result, Fair Trading cancelled his license.

“His conduct constitutes a serious breach of the Property, Stock and Business Agents Act, which states clearly that a real estate agent must not obtain a beneficial interest in the properties they are selling.”

Mr Kenny has also been banned from being involved in the direction, management or conduct of a real estate business for five years.

Estate agent banned 5 years
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