A Footscray real estate agent who improperly advertised the selling price of a Kew property in 2023 has been fined $7,000 after pleading guilty in the Melbourne Magistrates’ Court.
Consumer Affairs Victoria took legal action after Metaprop Pty Ltd (trading as Propnex Melbourne) advertised a property on realestate.com.au with the description ‘offers from $660,000’ instead of advertising a fixed estimated selling price or clear selling price range. This practice may cause buyers to falsely believe they can afford a property.
Consumer Affairs originally issued the company with a fine on 30 August 2023 after sales campaign monitoring by its Underquoting Taskforce identified the breach. On 1 May 2024, Metaprop chose to have the matter heard in court.
The magistrate fined Metaprop $7,000 without conviction, taking into account this was a first-time offence and the full and frank admissions made by Metaprop’s principal agent, Mr Zi Zheng Huang.