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Trust accounting failures lead to Vic agent’s licence cancellation

By Grace Ormsby
28 February 2023 | 10 minute read
Victoria Melbourne suburbs 850x400 reb

A Seymour-based agent has had her practising licence cancelled for the next two years, following disciplinary proceedings at the Victorian Civil and Administrative Tribunal.

According to a Consumer Affairs Victoria statement, the action was the eventual result of consent orders, following proceedings brought by the director of Consumer Affairs.

Saowanee Howell, an agent in Seymour, had allegations against her of failing to comply with a condition imposed on her licence and failing to cause her trust accounts to be audited annually for the financial years 2012 to 2021.

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Back in July 2018, the Business Licensing Authority had imposed conditions on Ms Howell’s estate agent licence. At that time, she had been prohibited from receiving or otherwise dealing in any trust money as an estate agent and from operating or being a signatory to any estate agent trust account.

Consumer Affairs has also alleged that the agent had failed to, at all times, act fairly and honestly and to the best of her knowledge and ability in performing her functions as an agent, and that she had engaged in conduct that was unprofessional or detrimental to the reputation or interests of her industry.

According to the media statement, Ms Howell had agreed to sign the consent orders prepared by the director, which stated that her licence to practice would be cancelled for two years — to 2025.

These orders were then made by the tribunal.

In its report, Consumer Affairs stressed that trust account obligations “are critical consumer protection measures, ensuring client money is safe when entrusted to an agent as part of a sale or rental transaction.”

“As well as being barred from practising, agents who don’t have their accounts audited or fail to lodge a copy of the report may face penalties of up to almost $20,000,” Consumer Affairs warned.

ABOUT THE AUTHOR


Grace Ormsby

Grace Ormsby

Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.

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