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After admitting to numerous real estate agent law and regulation contraventions, a former Victorian western suburbs agency director has not lost his real estate licence but is not permitted to work in any executive or managerial roles for the next two years.
Consumer Affairs Victoria said that back in 2017, its inspectors visited the business premises of The Sarain (ACN: 143 731 006), then trading as Ray White Werribee, as part of its state-wide compliance and inspection program.
The matter, which was able to be resolved out of court, saw former director Surinder Sarain admit to breaches of the Estate Agents Act 1980 and the Estate Agents (Professional Conduct) Regulations 2008 in an undertaking to the director of Consumer Affairs Victoria.
Those breaches included:
- Underquoting while marketing 11 properties.
- Failure to disclose relevant information about the commission of two properties.
- Making false and misleading representations as part of the advertisement of three properties.
- Failure to keep full and accurate trust accounting records.
According to Consumer Affairs, the majority of the breaches occurred in Melbourne’s western suburbs between 2015 and 2016.
According to the agreement set out within the undertaking, Mr Sarain is making a $2,500 payment into the Victorian Consumer Law Fund, and while he is permitted to continue working within the real estate industry, he must not be in effective control of a corporation conducting a real estate business in Victoria for a period of two years.
He must also not be involved in the day-to-day management of an estate agency business in Victoria for the same period.
Mr Sarain has also agreed to undertake at least 12 continuing professional development courses administered by the REIV within 12 months.
ABOUT THE AUTHOR
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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