Rogue Agents Will Be Held to Account: Industry Regulator

Press Release – Real Estate Authority

Rogue Agents Will Be Held to Account, Says Industry Regulator

Unlicensed real estate agents who operate outside the law will be held to account, says the Real Estate Authority (REA).

The REA has welcomed news that former Auckland real estate agent Aaron Hughes has been fined $8,000 for unlicensed trading. In February, Hughes was acquitted of criminal charges relating to two property deals. His licence had earlier been cancelled by the Real Estate Agents Disciplinary Tribunal (READT) in August 2016 after he had previously pleaded guilty to two charges of misconduct.

REA chief executive Kevin Lampen-Smith said the regulator was disappointed in the outcome of the earlier trial.

“We take every opportunity we can to hold people to account, particularly former real estate agents who operate outside the law.

“Buying or selling property is a complex and often-stressful time in peoples’ lives and New Zealanders should be able to trust that the person they are dealing with is licensed and professional.”

There are more than 15,000 licensed real estate agents currently operating in New Zealand. Lampen-Smith said people could check out a real estate agent’s background by visiting the REA’s online public register. This shows whether an agent is licensed and if they have had any complaints upheld against them.

“We want to ensure that people make educated and informed decisions when buying or selling property and that our industry operates in a professional way. Agents who break the rules or those holding themselves out to be licensed will face serious consequences,” Lampen-Smith says.

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