Brothers and sisters complain about the real estate body after the ownership of the sale for $ 790 thousand.

They tried to sell the site, but after they were not lucky, they were approached in May 2020 by two realtors, whose names were edited from the decision and asked if they considered selling it outside the market.

The potential buyer was then identified by the realtors of the realtors Elas Salimi Sarchab. Although at that time, Sarhave was employed in the same agency as realtors, he was going to go to start working with another firm.

Brothers who were also not named were listed by two realtors, and in December 2020 it was sold for $ 2290,000. At that time, the cost of capital was $ 3225,000.

In less than three weeks, the new owner transferred it for sale, and every day it is sold for $ 3,080,000.

The brothers argued that two realtors cooperated with Sararchav to sell the property whose location was not marked in the decision and earned $ 790,000.

They claimed that three abused their trust, depriving them of additional money.

They informed the Committee that the transaction had a severe and negative impact on their health.

The brothers claimed that the comparative market analysis, completed by two realtors, immersed the section of almost $ 1 million.

However, these realtors claimed that New Zealand had just left the COVID-19 blocking, and the real estate market was uncertain.

The Committee agreed, stating that there was no accurate science to prepare such an analysis, and there were plausible causes of low appreciation, given the indefinite market conditions at that time.

There is no conspiracy

After the investigation, the Committee found that there was no evidence of conspiracy between Sarchab and realtors to make property with profits as claimed.

He decided that two realtors did not violate any rules and were not guilty of unsatisfactory behavior.

The Committee also established an assessment of the property they completed, reflected market conditions at that time, and that the weeks of sale were due to a change in circumstances rather than profit.

However, the Committee found Sarchabs guilty of unsatisfactory behavior to violate his trusted responsibilities to the brothers, unable to tell them that he agreed to sell property.

“Given the trusted relations of Mr. Salima Sarhab with the complainant, the Committee believes that he had to advise the complainant that he had concluded an agency agreement to sell the property.” It has not happened, “-it will be in the decision.

But it was not established that the section was underestimated for the buyer or that Sarchubs conspired to sell it with profits.

Sarchab was fined for $ 1,000 and an order was made to reduce his commission concerning property by $ 4,500.

The decision noted that the brothers’ complaint was the first in eight years when he was in the profession.

After the decision was made public, NZME said that he did not know what he should say to the previous owners, being brothers that the new owner intended to sell.

“He (the buyer) was put in a corner where it could be truly ugly, because if he could not sell, he would be in a huge financial struggle, before he put his other property on the market,” he said about the buyer.

“I think that one of the reasons they (brothers) felt torn was that they felt that they were planned.”

The Sarchaba manager, Wayne Maguyer, was found guilty of unsatisfactory behavior for the inadequate supervision of Sarchab on property. However, there was no punishment against him.

The Executive Director for Real Estate Belinda Moffat reported NZME that the resolution emphasized the importance of real estate agents of trusted duties who owe their customers.

“In general, if the buyer has signed a sale and purchase agreement to buy real estate, they have a legal right to be interested in this property before the date of regulation of the original purchase,” she said.

“Although it is clear that the supplier can be unhappy to see the interest in his ownership of retail opinion, the range of factors can affect the price reached by retail property, this includes market fluctuations.”

Jeremy Wilkinson is a reporter with open justice based in a laughing, which covers the courts and the issues of justice interested in the tribunal. He has been a journalist for almost decades and has been working in NZME since 2022.