Agency fined $3,750 for withholding property sale and commission information
A failure to disclose information and a miscalculation of commission has seen Mundaring real estate agency Willmark Pty Ltd, trading as Rundin Property Consultants, a $3,750 fine.
The agency and one of its sales representatives, Reginald Anthony Roberts of Falcon, were reprimanded by the State Administrative Tribunal, receiving fines of $3,000 and $750 respectively. Each was also ordered to pay costs of $500.
The settlement of a South Yunderup property in December 2010 was the focus of the disciplinary action by Consumer Protection. The property was near Mandurah.
The property, at sale, was subject to a drainage easement, which had been lodged with the local shire. It had not been registered. This was not disclosed to the buyer who found out just prior to settlement. The agent and sales representative were told they should have been prompted by a notation at the bottom of the title to make more inquiries.
Confusion between the vendor and agency over the commission to be paid also existed due to incorrect figures displayed next to various fee structures in the selling agreement. This was also not signed nor initialed correctly.
Both the agency and the representative admitted to breaching the Code of Conduct for Agents and Sales Representatives. This was due to demanding commissions contrary to the Code, and for failing to verify material facts as required.
Buyers should have all important information about a property disclosed, said Commissioner for Consumer Protection, Anne Driscoll.
“Appropriate transparency is required in property transactions in WA so real estate agents and sales representatives have an obligation to ensure all known and material information about the property is disclosed to buyers prior to offers being accepted,” Driscoll said.
“It is equally important that the contracts are completed in accordance with the Code of Conduct so there is no confusion between the parties when the property goes to settlement,” she said.
Currently, Reginald Roberts is not listed as a staff member on the Rundin Property Consultants website.
