government is yet to issue a single fine to real estate agents caught promoting rent bidding since the practice was banned late last year, despite issuing hundreds of warnings in the same period.
Data from NSW Fair Trading shows despite multiple complaints and hundreds of warnings, no agent has been punished fordesigned to prevent them from soliciting higher rental bids from would-be tenants. The rules, introduced in December, make it illegal for real estate agents to solicit or invite offers above the advertised price for a residential property.Fair Trading has received six complaints about agents soliciting higher rent offers but said it had taken an “an educative approach” to the new laws, issuing 300 warnings to agents. It was “planning future audits and enforcement action”.
“Ongoing monitoring of advertisements for compliance has also occurred and inspectors have alerted agents responsible for non-compliant advertising to ensure they understand their responsibilities under the regulations,” the department said. Breaches of the regulations can result in an $11,000 fine for a corporation or $5,500 for an individual. The offences may also result in the issuing of an on-the-spot penalty infringement notice of $1,100 for a corporation and $550 for an individual.
Gutless
I bet the fine was less then a Queensland traffic fine.
Laws in this country only apply to the poors and the peasants. The rich and the landed gentry get away with anything.