PHOTO: The agent also lost her appeal to overturn the Commissioner for Fair Trading’s original decision
A Sydney real estate agent has been hit with a 12-month suspension after a tribunal found she took advantage of a vulnerable 82-year-old man with Alzheimer’s symptoms, purchasing his home for $500,000 below market value.
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⚖️ The Case That Shocked the Industry
Rachelle Carmen Norah, director of Eser Property, bought the man’s home in April 2023 for $600,000—just one month after the house next door sold for $1.1 million.
At the time, Norah also held power of attorney over the retiree, giving her control over his financial affairs and daily needs. The tribunal heard she failed to ensure his right to remain in the property, leaving him exposed to a possible 90-day eviction notice.
🚨 Tribunal Findings
Senior Member Lachlan Bryant of the Civil and Administrative Tribunal ruled the elderly man was “alone, isolated, extremely vulnerable” and lacked the mental capacity to fairly negotiate the sale.
The decision stated that Norah’s actions were “deliberate, of major harm and severity,” and amounted to exploiting the man for her own financial gain.
“Her conduct may put the real estate industry into disrepute and falls short of the community’s expectations of a licence holder,” Bryant said.
The agent also lost her appeal to overturn the Commissioner for Fair Trading’s original decision, which included the 12-month licence suspension and an $11,000 fine.
The Civil and Administrative Tribunal found real estate agent Rachelle Nohra took advantage of an elderly vulnerable man for her own financial benefit. Picture: Supplied
💔 Why It Matters
The case highlights ongoing concerns about ethical standards in real estate, particularly when dealing with elderly or vulnerable clients. Industry leaders warn that breaches of trust like this could further erode public confidence in the profession.
SOURCE: NEWS.COM.AU