Veteran agent’s licence cancelled after bankruptcy disclosure failure

While bankruptcy automatically disqualifies individuals from holding a real estate agent’s licence, Bell continued operating with valid credentials for more than a month after failing to notify the Office of Fair Trading (OFT).

The watchdog cancelled Bell’s licence last week, on 21 October 2026, after learning of the agent’s change in circumstances, following a third-party inquiry into his licence status.

Under the law, real estate agents must notify the OFT within 14 days of any change in circumstances, including insolvency.

A Department of Justice spokesperson told REB that the OFT would cancel real estate agents’ licences following insolvency, conviction, or serious offences.

“Property agents licensed under the Property Occupations Act 2014 (Act) hold important financial responsibilities, including management of funds held in trust.

“The Office of Fair Trading (OFT) enforces the Act, including regulating property agent licences, to help protect consumers in their dealings with the Queensland property industry,” the spokesperson said.

Bell’s bankruptcy had been on the line following a failed Surfers Paradise hotel project, in which he and former business partner, lawyer Wayne Roddenby, were ordered to pay almost $10m to a Chinese lender in December last year.

Chinese lender Zhongcheng Holdings sued the pair over a $39 million loan linked to a failed plan to build a 270-room, 25-storey hotel called the Grand Gold Coast on Orchid Avenue in Surfers Paradise, featuring a rooftop pool bar with ocean views.

The NSW Supreme Court ruled that Bell and Roddenby must jointly repay Zhongcheng $9.74 million plus costs, rejecting their argument that the lender had derailed the development.

Yet, Roddenby had declared bankruptcy prior to the ruling on 7 November last year, while Bell managed to hang on until 11 August 2026, when he ultimately collapsed.

Bell began his real estate career in Sydney’s eastern suburbs in 1977 as a residential property manager before moving to the Gold Coast in 1989 with his brother Andrew to take over Ray White Surfers Paradise.

The brothers sold out of the business last year, and Andrew subsequently launched Ray White Bell Group, where Bell is listed as head of commercial and industrial, with the website showing no listings for the agent since the bankruptcy.

Contacted by REB, Ray White Bell Group director Andrew Bell confirmed that his brother Greg was neither a director nor a shareholder of the company.

“He is my brother, and I love and support him. Greg is still an employee of the Bell Group, and he can still be a manager and train people. He’s got 49 years of experience, which is something to be very proud of," Andrew Bell told REB.

“Greg has a lifetime of experience to share with people and over the decades, he has been a leading training of some of the top-performing agents in the industry.”