Victoria’s competition regulator has slapped real estate agency Kay & Burton with a fine for underquoting, showing agent Grant Samuel – the son of former consumer protection tsar Graeme Samuel – marketed a home in Melbourne’s Armadale at a deceptively low price.

Consumer Affairs Victoria (CAV) fined the agency $9913 over its marketing of the 62 Rose Street home, which sold for $5.8 million at auction, nearly $2 million above the price guide, in an auction that lasted just 6½ minutes, and which triggered accusations of underquoting against the agency.