Arabic version: حماية المستهلك تداهم مكتب «آيديال ريالتي» في بيرث

According to ABC News, Western Australia’s Consumer Protection agency has executed a warrant at Ideal Realty’s Willetton office, seeking documents connected to the 2024 sale of a Kenwick home. The raid follows new evidence that allowed the agency to reopen its investigation into alleged conflict-of-interest breaches.

Ideal Realty had been hired to sell the home of Perth man Chao “Jack” Wu. Mr Wu said that, after six days on the market, he received three offers and accepted the highest, from a company called Generation Two. He alleged he learned only after accepting the final offer that Generation Two was owned by Ideal Realty licensees Roy Li and Lynn Ting, whose legal names are Liang Li and Lin Ding.

Mr Li, who conducted the sale, denied misleading Mr Wu and said he disclosed before making the offer that he and his partner were the true buyers. However, he conceded he did not ensure Mr Wu signed the legally required written disclosure form acknowledging his interest in the transaction. Mr Wu said he completed the sale because he feared he could be liable for damages after signing the contract.

Consumer Protection Commissioner Trish Blake said it was not unlawful for an agent to buy a property they were selling, but full disclosure must be made in advance so a vendor can make an informed decision. If a breach is established, companies can face fines of $25,000 and individuals can be fined $5,000. Ms Blake said a finding could also raise questions about whether a person is fit and proper to hold a real estate licence.

Separately, Mr Li was referred last week to the Real Estate Institute of WA’s professional standards tribunal over discrepancies in sales prices listed by the agency. He said some inaccuracies resulted from asking prices being listed instead of actual sale prices, and said listings for properties he or Ms Ding owned were removed after they were withdrawn from the market.