PHOTO: Victorian agent Nicholas Skapoulas from Nicholas Scott Real Estate
“30 Years of Experience… Now at Risk of Losing It All” – What Every Real Estate Agent in Australia Needs to Know
🏠 A Shocking Allegation Shakes the Real Estate Industry
In a case sending shockwaves through the Australian property sector, Victorian real estate agent Nicholas Skapoulas, with over 30 years of experience, is facing disciplinary action over accusations of underquoting 11 homes in Melbourne’s north-east.
📍 Agency in the Spotlight
Skapoulas, owner of Nicholas Scott Real Estate, will appear before the Victorian Civil and Administrative Tribunal (VCAT), following an investigation by Consumer Affairs Victoria’s (CAV) Underquoting Taskforce.
Victorian real estate agent Nicholas Skapoulas (pictured) and his agency, Nicholas Scott Real Estate, are set to face disciplinary proceedings for underquoting 11 homes in Melbourne
If found guilty, Mr Skapoulas could have his license suspended or permanently cancelled
⚖️ What’s He Accused Of?
The taskforce alleges that:
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🏷️ Properties were advertised below the vendor’s agreed reserve
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🏘️ Listings lacked median sale prices or comparable properties
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🔍 Buyers were misled into believing the properties were within their budget
If found guilty, Skapoulas faces a potential license suspension or permanent cancellation—a historic first since the taskforce’s establishment.
📉 Underquoting: A Growing Industry Issue
The underquoting tactic involves advertising a property at an artificially low price to draw more interest—only to pressure buyers into offering far more once engaged.
📢 Consumer Affairs Minister Nick Staikos called the practice “dishonest and predatory,” particularly harmful to first home buyers already struggling in a competitive market.
🧾 Since its launch in 2022, the CAV taskforce has:
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📨 Received nearly 4,000 complaints
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💸 Issued $1.8 million in fines to non-compliant agents
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👀 Increased oversight on Melbourne real estate practices
👥 What About the Other Agents?
Daily Mail Australia confirms that no other agents or representatives at Nicholas Scott Real Estate are implicated in the investigation.
🔮 What This Means for Real Estate Agents in Australia
This case sets a powerful precedent for how regulators are cracking down on unethical sales tactics in Australia’s property market.
💬 Industry insiders warn that all agents—whether independent or franchise-based—should review their pricing strategies, listing transparency, and compliance processes to avoid costly legal battles.
SOURCE: THE DAILY MAIL