Add articles to your saved list and come back to them any time.It was late one afternoon when Doug Schoer, busy caring for his wife with dementia, received an unexpected visitor.
The agent used a mobile printer from his car to produce a “heads of agreement” outlining a mooted deal. But the Schoers question the quality of oversight being delivered by regulators, as Consumer Affairs Victoria took months to respond to their concerns. In one recent case, two companies owned by Korean businessmen sued The Eleet, the agency’s founder and managing director, Saahil Gupta, and a company called Lead Developments.
The Eleet and Lead Developments were accused of engaging in fraud, and misleading and deceptive behaviour in contrary to Australian consumer law.Facebook The agency argued the agreement meant that if a binding offer was received on the terms set out in the sales authority and would result in an enforceable contract of sale, that the properties were declared as “sold”. After The Eleet received an offer, the agency alleged it was owed about $450,000 in commission.
Gupta said the agents had done what they were hired for in obtaining a signed binding offer, and deserved the commission after spending several months in discussions with the family. A judge found that the business dealings around the property were “loose and questionable”, and described the “spontaneous and unbusinesslike way this laconic dealing started at the site”. He described the heads of agreement as a “strange document” which he did not believe could be made out to be a binding contract.
A zoning change has made the otherwise unremarkable area highly attractive to developers. The change brought a wave of real estate agents, who at sporadic periods have repeatedly doorknocked residents along the street, hoping to cash in on the residential potential.Margaret LaFrenz, 81, has lived at her sprawling property for 42 years and was introduced to an agent from The Eleet by Ashley Schoer, before his dealings with the agency went sour.
Doug Schoer built the home he has lived in for 34 years. He felt that he didn’t have time to get legal advice before he signed the papers presented to him by the real estate agent.
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