Real Estate Agent Intentionally Deceived Me, What Are My Options?
Last edited 20/09/2019 - 18:18 by 1 other user
Here’s the story:
So this real estate agent had 3 vacant adjacent blocks of land for sale in Melbourne.
Two were listed as sold on their website and saying they were gone very quickly.
I went into the office to make an offer on the supposedly last block of land. They had a big whiteboard in clear view that listed the 2 other blocks of land and the price it sold for. The agent was saying this is the last one left and they are selling fast.
I have since signed the contract, finalised settlement and the title has been transferred.
Now, I’ve inadvertently found out from the actual original owners of the 3 blocks that the 2 other blocks were never for sale and they still own them. Those 2 blocks of land were unavailable and nobody else had ever even signed a contract to purchase it.
The problem is that the two blocks are now being commercially developed, instead of being bought by 2 home builders as I thought they were. The agent has admitted that they were never for sale but simply marked as sold “to avoid buyers enquiring on the blocks not available”. However, the agent is saying he did not know what their intentions were for the 2 blocks. Which is hard to believe since the owners developed 3 blocks specifically and never intended to sell the other 2 blocks, surely the agent would have enquired why not?
Now I find this a stupid excuse and feel completely misled and tricked into buying the “last” block of land.
The ACCC clearly says (https://www.accc.gov.au/consumers/health-home-travel/real-es...).
“It is unlawful for real estate agents to:
- intentionally mislead you
- lead you to a wrong conclusion or impression
- give you a false impression
- leave out or hide important information (e.g. in fine-print disclaimers)
- make false or inaccurate claims.
It makes no difference whether the agent meant to mislead or deceive you—it is how you perceived the conduct that matters.”
What would you guys do in this situation? What are my legal rights? The settlement has already completed and land titled.
I would not have purchased the property if I knew about it being commercially developed. Even if the agent did not know, I believe he still intentionally misled the sale of other blocks to induce FOMO and set the price floor on the 1 block of land for sale.
There are two separate issues.
The commercial development which isn’t the agent’s fault ONLY if he did not know about it ever.
The misleading claims about nearby blocks selling quick when they were never even for sale to artificially induce FOMO and influence price
I’m asking more about the second problem and what can be done.
Obviously commercial development I can’t do a lot about it except object.