Login
iscover
A veteran real estate agent has been reported to Consumer Affairs Victoria after allegedly buying two properties he was meant to sell, renovating them, and making a profit from their resale.
Harcourts real estate agent Robert Krnjeta has been reported to Consumer Affairs Victoria (CAV) following allegations that he purchased two properties he was meant to sell at a lower market price, renovated them, and made a profit on resale.
As reported by The Age, in 2024, Krnjeta, through another company under his name, bought two three-bedroom properties in Wyndham Vale for $380,000 and $350,000, making them the fourth- and fifth-cheapest three-bedders in the suburb.
Property titles and other records showed that Krnjeta sold the renovated properties less than a year later for $527,000 and $635,000, respectively.
Under section 55 of the Estate Agents Act 1980, a real estate agent or agent’s representative cannot obtain a beneficial interest in a property they have been commissioned to sell.
Agents can be exempt if they have the vendor’s written consent, act honestly, charge no commission, and leave the vendor in a fair-market-value position.
Allegedly, Krnjeta said that while he took commissions on the sale of the two properties, he wasn’t in breach of the law and only purchased the homes after the initial “purchaser” who had signed unconditional contracts was unable to obtain finance to settle the sales.
“I agreed to purchase the properties from that purchaser via contract nomination on the same terms, reimbursing the purchaser for the deposit monies paid,” he told The Age.
Additionally, Krnjeta said he self-reported to CAV and personally repaid the commissions, along with significant additional compensation to the former owners of the two homes, to safeguard his reputation and professional standing.
Under the law, agents who sell a property to themselves or a friend or family member at a bargain price can face a maximum penalty of nearly $49,000 or up to two years’ jail.
At the time of the purchase, Krnjeta was operating under Ray White; he has since switched to rival franchise Harcourts.
According to The Age, Krnjeta's former business partner had reported him to CAV upon learning of the transactions.
Months later, in May 2025, the network and its star agent parted ways, despite the watchdog not having taken any action.
Krnjeta then joined Harcourts in September 2025.
Contacted by REB, Harcourts CEO, Adrian Knowles, said the network wasn’t aware of any allegations against the start agent and that it has robust systems and processes in place to which all agents are expected to adhere.
“Harcourts was not aware of specific allegations relating to his former employment until recently being contacted by The Age,” Knowles told REB.
“Mr Krnjeta joined Harcourts at the end of last year and came to us highly recommended by senior Ray White executives.”
“He has consistently rated amongst his previous brands’ highest performing agents.”
Contacted by REB, a CAV spokesperson said that the watchdog expects all real estate agents to follow the law.
“Consumer Affairs Victoria takes reports of real estate misconduct seriously and will investigate and take action where necessary,” the spokesperson told REB.
While Krnjeta has been reported to the state watchdog, CAV has neither confirmed nor denied any investigation, and he hasn’t been found guilty of any breach.
ABOUT THE AUTHOR
You are not authorised to post comments.
Comments will undergo moderation before they get published.