PHOTO: Josh Tesolin. FILE
Australia’s biggest real estate franchise has just severed ties with its top-performing agent — and the fallout could change the face of the real estate industry.
Josh Tesolin, long touted as Australia’s number one real estate agent, has officially parted ways with Ray White, following a compliance review triggered by allegations surrounding his controversial incentive fee structures.
The news — first reported by Daily Mail Australia and confirmed by Property Noise — marks a dramatic end to a high-octane partnership that turned Tesolin into a household name in the Sydney property scene.
“The agreement between Josh Tesolin and Ray White will officially terminate on July 31,” said Tesolin’s lawyer, Lisa Jemmerson.
The announcement comes just days after Ray White publicly denied any intention to end the relationship.https://www.propertynoise.co.nz/josh-tesolin-gone-from-ray-white-pushed-or-did-he-jump-first/
🔍 What went wrong?
Ray White’s internal investigation, described as a compliance review, appears to have been the turning point. The agency said it would “review the nature” of Tesolin’s incentive fee arrangements, amid claims they could misalign with client interests.
Although the language from both sides remains polished and diplomatic, industry insiders say this was no mutual handshake.
“Let’s be honest,” said one franchisee off-record. “Ray White had to act.”
🏘️ Tesolin Joins NGU – and a New Era Begins
Tesolin has wasted no time rebranding. He and his high-powered team have now aligned with the NGU Real Estate Group, with CEO Emil Jesuric calling the move “a new era” and publicly celebrating Tesolin’s proven success, work ethic, and personal brand.
“We’re excited to officially welcome Josh Tesolin, Australia’s #1 Agent, and his powerhouse team to the NGU family,” Jesuric posted online.
Tesolin himself was quick to thank the Ray White family, saying:
“They’ve supported my growth every step of the way… this decision hasn’t been taken lightly but I’m energised by the challenge ahead.”
🧨 Compliance Storm or Calculated Exit?
While Tesolin remains one of the most awarded agents in the country — reportedly earning $9 million in commissions in 2024 alone — his departure casts a long shadow over the broader real estate model. The industry is now buzzing with questions:
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Is the compliance review just the beginning?
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Will other agencies rethink incentive-heavy sales models?
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Can NGU harness Tesolin’s brand without similar scrutiny?
One thing is clear: the game has changed.
👀 Watch this space…
This split is about more than just a logo swap. It’s about branding, accountability, and the future of how elite agents operate inside franchise systems.