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12 month growth
Box Hill
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Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
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67.09%
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Fair Trading office issues warning to agents

By Staff Reporter
25 August 2009 | 1 minute read

Real Estate agents operating without a license can face fines of up to $11,000, the Office of Fair Trading has said.

Last month, the Office of Fair Trading fined real estate agent Paul Bertolissio $2,073 for operating without a license in the Baulkham Hills area.

“This is a man who has a track record of misleading consumers for his own financial gain,” Acting minister for Fair Trading Linda Burney said.

“In May 2006, Fair Trading permanently cancelled Mr Bertolissio’s real estate license after he was caught misappropriating trust funds,” she said.

“This means he cannot be involved in the management, direction or conduct of a business of a licensee.

“Tenants are entitled to believe that, when they pay an agent, the money will be held in trust to be paid to the landlord in accordance with the NSW Property, Stock and Business Agents Act.

“Landlords equally must be assured that their agent protects rent money due to them.”

The maximum penalties for operating without a real estate license are $11,000 for an individual and $22,000 for a corporation.

Fair Trading office issues warning to agents
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.