{"id":30440,"date":"2021-02-02T09:29:13","date_gmt":"2021-02-01T20:29:13","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=30440"},"modified":"2021-02-02T09:30:16","modified_gmt":"2021-02-01T20:30:16","slug":"minister-puts-rogue-real-estate-agents-on-notice","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/minister-puts-rogue-real-estate-agents-on-notice\/","title":{"rendered":"Minister puts \u2018rogue\u2019 real estate agents on notice"},"content":{"rendered":"<p><strong>PHOTO: Real estate agent Nicolette Van Wijngaarden was sentenced to jail in November 2019 over trust account fraud.<\/strong><\/p>\n<p>Luxury real estate agent\u00a0<a href=\"https:\/\/propertynoise.co.nz\/au\/tag\/nicolette-van-wijngaarden\/\">Nicolette Van Wijngaarden<\/a>\u00a0alone accounted for more than half of the $6 million-worth of trust account and rental bond fraud NSW authorities have prosecuted in the past 14 months. The state\u2019s Minister for Better Regulation, Kevin Anderson, said the tally showed agents in a fast-moving market they should not be tempted to illegally pocket money.<\/p>\n<p>As\u00a0<a href=\"https:\/\/propertynoise.co.nz\/au\/australian-housing-values-reach-a-new-record-high-as-values-continue-to-rise-across-every-broad-region-of-the-country\/\">CoreLogic figures on Monday revealed Sydney home values<\/a> rose 0.4 per cent in January while those in regional NSW surged 1.6 per cent, Mr Anderson warned \u201crogue\u201d players in the real estate industry that they should not treat money held in trust for clients as their personal expense accounts.<em><strong>\u00a0<\/strong><\/em><\/p>\n<p data-gtm-vis-first-on-screen-7770372_137=\"5443\" data-gtm-vis-total-visible-time-7770372_137=\"4000\" data-gtm-vis-recent-on-screen-7770372_137=\"86700\" data-gtm-vis-has-fired-7770372_137=\"1\">\u201cI am putting real estate agents on notice that if you attempt to fleece consumers you will be caught, prosecuted and potentially jailed,\u201d Mr Anderson said.<\/p>\n<p>\u201cI have instructed [consumer watchdog] Fair Trading to stay on the case and they will continue to investigate any acts of dishonesty in regards to trust fund fraud.\u201d<\/p>\n<p>Abuse of trust accounts is\u00a0a long-standing problem in residential real estate\u00a0and has resulted in a string of\u00a0convictions\u00a0of\u00a0former agents\u00a0in the country\u2019s two largest housing markets, including the 2019 sentencing of\u00a0Van Wijngaarden\u00a0to three years and six months in prison with a non-parole period of one year and nine months for the misappropriation of $3.7 million.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.afr.com\/property\/residential\/minister-puts-rogue-real-estate-agents-on-notice-20210131-p56y8e\">AFR<\/a><\/p>\n<h3 class=\"widget-title\"><span class=\"accent-typo\">MOST POPULAR<\/span><\/h3>\n<ul class=\"widgets-list-layout no-grav\">\n<li><a class=\"bump-view\" 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class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/minister-puts-rogue-real-estate-agents-on-notice\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":19815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478099057,478098519,478098535,478103440,478114499,478106228,478114498,478101564,478098513,478101743,478098579,478098510,478098514,478098511,478098705,478098533,478098828,478098509,478114500],"class_list":["entry","author-data123nz","post-30440","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-fair-trading","tag-home-ownership","tag-house-prices","tag-housing-markets","tag-kevin-anderson","tag-luxury-real-estate-agent","tag-minister-for-better-regulation","tag-nicolette-van-wijngaarden","tag-property","tag-property-correction","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-news","tag-rogue-real-estate-agents"],"yoast_head":"<!-- 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