NSW Fair Trading issues fines and warnings in major Central Coast property law crackdown
Real estate and property service businesses on the Central Coast have been paid a visit by NSW Fair Trading inspectors who delivered on the spot fines, warning letters and opened an investigation into a real estate agent for allegedly repeatedly underquoting breaches.
Real estate and property service businesses on the Central Coast have been paid a visit by NSW Fair Trading inspectors who delivered on the spot fines, warning letters and opened an investigation into a real estate agent for allegedly repeatedly underquoting breaches.
A dozen inspectors were deployed for five days as part of an audit to enforce NSW strata and property laws by targeting regulatory priorities including underquoting, misrepresentations and fair contracting.
Inspectors visited 33 real estate agencies, 13 retirement villages, seven residential (land lease) communities, six strata agents and five conveyancers in Gosford, Terrigal, Erina, Bateau Bay and Avoca.
As a result, seven penalty infringement notices were handed to real estate agents and strata agents for breaches of underquoting, rules of conduct and supervision regulations, while one strata agent was fined for failing to have their accounts audited.
A further real estate agent is now subject to ongoing investigation for underquoting offences.
A further 20 education and warning letters were issued to real estate and strata agents and one warning/education letter was issued to a retirement village operator.
Strata and Property Services Commissioner Angus Abadee said the $8.4 million Strata and Property Services Taskforce within NSW Fair Trading allows specialised inspectors to undertake meaningful compliance and enforcement while lifting standards through proactive education.
While some audits were conducted randomly, others were targeted through intelligence-led data collection, including reviewing recent sale prices, fines issued and complaint data to target consumer harms in line with Fair Trading’s compliance and enforcement priorities.
“Our targeted compliance of licensees who had been known to NSW Fair Trading through previous enforcement outcomes showed there had been improvements to practices and record keeping, however, across the board there was room for improvement.”
“While the majority of real estate agents were found to be complying with their obligations, the message is clear – you can expect a visit from Fair Trading anytime and anywhere.”
“NSW Fair Trading is planning further unannounced inspections across the state and will be targeting operators who have a compliance history, with inspectors to revisit the Central Coast in the coming months to ensure education and warning letters have been complied with.”
“As we move into the peak of Spring auction periods, Fair Trading will be undertaking proactive compliance and enforcement activity to continue to combat underquoting.”
From 2024-2025 NSWFT received 42 complaints in the Central Coast region’s property sector with 16 relating to the management of strata schemes. Property sales complaints related to misrepresentation and underquoting, while NSWFT also received 26 complaints relating to residential land lease communities.
There are more than 2400 real estate licenses in the Central Coast Council area, including more than 1300 people holding a property license allowing them to work as a real estate agent, while there are more than 700 individuals with property certificates allowing them to work in the industry.
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Originally published as NSW Fair Trading issues fines and warnings in major Central Coast property law crackdown
