Strict trust account audit requirements for estate agent Joel Phillip Murray

Joel Phillip Murray, an estate agent, was reprimanded and had his licence suspended for three months and conditions attached to it, after failing to have his trust accounts audited. 

The Victorian Civil and Administrative Tribunal found that Mr Murray, 41, of Berwick, contravened the Estate Agents Act 1980 and the Estate Agents (Professional Conduct) Regulations 2008.

Mr Murray failed to cause his trust account to be audited within three months of the end of the 2010-2014 financial years, and to lodge copies with the Director of Consumer Affairs Victoria, as required by the Act.

The tribunal found that Mr Murray contravened the Regulations by failing to exercise due skill, care and diligence in performing his functions as an estate agent, and by engaging in unprofessional conduct.

He was reprimanded and had his licence suspended for three months from 20 October 2015 until 19 January 2016.

His licence was also made subject to a condition that, on or before 19 October in each of 2015, 2016 and 2017, Mr Murray must notify the Director in writing whether or not he has complied with his trust account audit and lodging requirements for the previous financial year.