Perth realtor raided over shell company home purchase

Property agents used a hidden company to buy their own client's home without telling him.

Why it mattersWhen a real estate agent buys a property they're selling, their interests may conflict with the client's. The law requires full disclosure first so sellers can decide whether to wait for other bids. Breaches can result in fines up to $25,000 for companies and $5,000 for individuals.

AustraliaWestern Australian property sellers need to know their agent's true financial interests. Companies found to breach conflict-of-interest laws face fines of up to $25,000.

✓ Claims checked against the source and corrected before publish. checked 35 min ago

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