29 Oct 2008

Real estate company fined for breaching act

4:07 pm on 29 October 2008

A real estate company has been fined $7500 in the Wellington District Court after admitting three breaches of the Fair Trading Act.

The case against Celestine Realty Ltd of Wellington arose after one of its agents, Tim Whitehead, advertised a house at a 'buyer enquiry over' price which was significantly less than the amount the vendor was expecting from the sale.

Whitehead was sentenced in Hastings District Court in December last year on similar charges and was fined $7500.

The cases were brought by the Commerce Commission.

It says the case reinforces the duty of real estate companies to ensure that their agents do not mislead potential buyers about the price a vendor is prepared to accept.