00:02It was on this leafy street in Perth's south-east that Jack Wu achieved the dream of owning his own
00:07home.
00:07I was the first home buyer and I think this suburb is good for a home starter.
00:15But by the time it came time to sell, it was anything but a dream.
00:18The agent he hired to sell his home put in the top offer via a separate company,
00:23Mr Wu says without telling him.
00:25Yeah, he told me the owner of this buyer's company is a Singaporean businessman.
00:32After the name of the buyer was changed on the sales contract,
00:35Mr Wu started digging into who owned the company that bought his house.
00:39What was your reaction when you realised the real estate agent you'd hired to sell your house was actually the
00:45buyer?
00:46Yeah, I was super shocked.
00:49Mr Li denies misleading Mr Wu.
00:51I told him from the beginning we are the buyer.
00:55But he does concede he failed to have a legally required disclosure form signed before making the offer,
01:01claiming Mr Wu initially refused to sign it.
01:04After a cancelled home open, he says he held private viewings at the property before putting in his own offer.
01:10The industry's peak body says the situation doesn't meet the expectations of agent conduct.
01:15It just all comes down to transparency and making sure all parties are aware.
01:19So disclosure normally needs to be made up front and it needs to be made in writing.
01:24Consumer Protection issued a formal warning to Ideal Realty but no fine over an alleged conflict of interest breach.
01:31Consumer advocates say stronger protections are needed.
01:34What's happened here I think sounds like a slap across the knuckles with a feather.
01:40Consumer Protection says it's investigated six complaints of this type of situation since 2024.
01:49This is a unity of shock police pressure and that is always a fault.
01:50What's happened here it's a robbery, which is a force, you can even see a mismatch,
01:50you can't be in a professional relationship with a secret background.
01:52What's happened here?!
01:52What's happened here?
01:52What happened here ?
01:52What happened here?
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