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Agent appeals against licence suspension
Released 12 January 2011

A real estate agent in Gosford will appeal against a decision by NSW Fair Trading to suspend his licence for 10 years.

The licence was cancelled when an investigation found the Director and Licensee of Misteri Pty Ltd (trading as Raine & Horne Gosford) had been involved in unlawful practices, states NSW Fair Trading Deputy Commissioner Steve Griffin.

According to the Department, 11 townhouses bought by Misteri Pty Ltd for $2.5 million were sold on the same day to the NSW Land and Housing Corporation for $3 million.

Angus Raine, CEO of Raine & Horne, says the franchise is seeking legal advice on how the proceedings will impact the Raine & Horne network. “As always, Raine & Horne will endeavour to ensure the reputation of the network and the goodwill of the Raine & Horne name is upheld at all times,” he says.