Former Ray White Werribee agent alleged to have been underquoting
A former Ray White franchisee is alleged to have breached the Estate Agents Act 1980 while operating as Ray White Werribee.
The Sarain Pty Ltd is the 10th agency alleged to have been underquoting since the Taskforce Vesta crackdown by Consumer Affairs Victoria (CAV).
The CAV has applied to the Victorian Civil and Administrative Tribunal to hold an inquiry in relation to The Sarain Pty Ltd (ACN: 143 731 006) and its director, Surinder Sarain, 42, of Ormond.
It alleges that the company and Sarain contravened the Estate Agents Act 1980 when the company was trading as Ray White Werribee.
Ray White advised Sarain had operated at the brand’s Werribee office for about two-and-a-half years from July 2013 to March 2016.
The grounds of inquiry include that the company and Sarain:
- advertised 14 properties for sale in the western suburbs at a price that was less than the:
- vendor's reserve price as stated on the sale authority, or
- estimated selling price, or
- lower limit of the estimated selling range as stated on the sale authority.
- failed to notify the Business Licensing Authority within seven days of employing agents' representatives, and
- failed to meet certain trust account record requirements.
