An estate agency that traded unlicensed between December 2020 and April 2021 has been convicted in the Melbourne Magistrates’ Court after Consumer Affairs Victoria took legal action.
Kamn Real Estate Pty Ltd (ACN 646 081 521), which traded as Area Specialist Sunshine, was found guilty of three charges related to unlicensed trading, trust account breaches, and failing to meet an inspector’s investigation requirements.
The court imposed a $197,740 fine ordering the company to forfeit the commission or profit they made while trading unlicensed. Kamn Real Estate must pay this $197,740 fine to the Victorian Property Fund, which compensates people who have lost money due to the misuse of trust funds by an estate agent or conveyancer. The agency was also convicted and sentenced to a $5,000 fine for the three charges.
Consumer Affairs Victoria Director Nicole Rich welcomed the outcome. She said it was a timely reminder that the regulator would not tolerate unlicensed trading, and that agencies who engaged in the practice faced significant penalties.
‘The majority of estate agencies, and agents, comply with the law and meet the considerable responsibilities that go with working in the industry,’ she said.
‘We will continue to investigate and act against agents and agencies that fail to meet those responsibilities and put clients’ money at risk.’
Consumer Affairs Victoria became aware of the offences after a consumer complaint prompted an investigation into the agency. Kamn Real Estate entered voluntary administration in December 2023.