estate agent: The pair were selling agents for three lots and introduced the buyers in each sale, Consumer Protection said, according to Nine News Australia. All six lots were first sold to an intermediary company controlled by another son Michael King, who was not a licensed real estate agent or sales representative, then on-sold to Malaysian-based investors at higher prices. Former licensees The King and I, formerly trading as Colin King Real Estate, its director Colin Maxwell King and his sales representative son Paul Anthony King breached the Code of Conduct for Agents and Sales Representatives between 2008 and 2010. Regarding the three lots sold through Colin King Real Estate, the SAT found the pair misled and failed to act in the best interests of the seller, failed to act fairly and honestly in facilitating the on-sale scheme, and had a conflict of interest. Colin King also asked the SAT to review Consumer Protection decision not to renew his licence in August 2014 but the decision was upheld. The pair were also found to have acted dishonestly by facilitating the on-sale scheme for the three other lots.
(news.financializer.com). As
reported in the news.
Tagged under estate agent, consumer protection topics.