Sunnybank real estate agent convicted

• A Sunnybank real estate agent has been convicted following an investigation by the Office of Fair Trading (OFT).
• Queensland real estate agents are reminded that trust money does not belong to them, and they can’t access it for personal expenses.

A Sunnybank real estate agent and his company have been fined more than $51,000 in the Holland Park Magistrates Court today following an OFT investigation.

Shih-Hao Huang and his company Property & Management People Pty Ltd, also had their real estate licences permanently disqualified.

Mr Huang pleaded guilty to one charge of dishonestly using trust money belonging to someone else and one charge of not filing a required audit.

The company was also charged for the same offences, in addition to acting as an agent without the appropriate licence and pleaded guilty.

Mr Huang also received a nine-month term of imprisonment, suspended for a period of two years.

Between June 2022 and November 2023, Mr Huang made 84 unauthorised withdrawals from the trust totalling $1.273 million.

All the money has since been returned to the trust account.

None of the unauthorised withdrawals or deposits were recorded in the trust account.

Mr Huang admitted to using the funds for personal expenses including investments, paying his mortgage and living expenses.

The court heard he was embarrassed and ashamed by his actions and knows what he did was wrong.

A total of five convictions were recorded.

If you believe an agent has been mishandling trust money, you can lodge a complaint with the OFT online on its website or call 13 QGOV (13 74 68).

Quotes attributable to Executive Director, Office of Fair Trading, Craig Turner:

“Queensland renters and property owners expect real estate agents to handle their money properly, in line with the law.

“Real estate professionals hold a position of trust and work with large sums of other people’s money, so it is essential they abide by the law and follow appropriate processes at all times.

“Any real estate agent who intentionally takes money from a trust account without proper authority is committing a crime.

“The Office of Fair Trading will continue to take action against dishonest property agents who are breaking the law.

–ENDS–