A Docklands estate agent has been reprimanded and ordered to pay a penalty after failing to lodge annual trust account audit reports for four years, following action by Consumer Affairs Victoria.
The Victorian Civil and Administrative Tribunal found that Terry Pak Kwai Choe, 59, failed to exercise due skill, care and diligence in performing his functions and engaged in unprofessional conduct.
Mr Choe’s actions were found to be breaches of the Estate Agents Act 1980 and Estate Agents (Professional Conduct) Regulations 2008.
The tribunal imposed, with the parties’ consent, a condition on Mr Choe’s estate agent’s licence requiring him to have his trust accounts audited at six monthly intervals for the next three years.
Mr Choe must lodge a copy of these audits with Consumer Affairs Victoria within 10 days of receiving them.
He was also ordered to pay $1500 into the Victorian Property Fund.