Property finders in authority's sights
The practice of property finding came under the authority’s legal spotlight last year when Francisca Forster’s company Home Buyers, a property trading company that buys property in its own name and on-sells it for a profit, with settlements that are sometime contemporaneous, was found guilty of carrying out real estate agency work without a licence.
She appealed the conviction and $7000 fine in February and was discharged without conviction. But the conviction and penalty on Home Buyers was unaltered.
At the time, Martin Sawyers, legal counsel for the REAA, said property finders and companies and agents that worked with them could face legal action.
The REAA has received reports of others involved with the activity, who are being investigated.
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