Registered salesperson, Ho Wee Chun, Eugene, was disciplined for misleading a potential buyer that her offer was rejected, bringing disrepute to the real estate agency industry. At the time of offences, Ho was a salesperson with PropNex Realty Pte. Ltd.
Ho represented the potential buyer in purchasing a property and conveyed her offered price to the seller’s salesperson. However, before getting a response, Ho informed the potential buyer that her offer was rejected, when in fact it was still being considered.
After the seller’s salesperson informed Ho that the potential buyer’s offer had been accepted, Ho did not update the potential buyer. Instead, he tried to get her to increase her offer. She requested Ho to notify the seller that she would take up a bridging loan in order to raise her offer. In exchange, she wanted a longer period of four weeks to exercise the Option to Purchase. Ho then misled the potential buyer that he had informed the seller’s salesperson of her request, when this was not the case.
Subsequently, Ho avoided all attempts by the potential buyer to contact him. He then liaised with a salesperson from his own estate agent to purchase the property at the same price offered by the potential buyer. He represented his colleague to deliver the cheque and offer letter to the seller’s salesperson.
Ho then informed the potential buyer that the property had been taken. He misled her to believe that his colleague had marketed and closed the transaction for the eventual buyer, when he was the one who had done so.
Ho has brought disrepute to the estate agency industry, which is a breach of the Code of Ethics and Professional Client Care. He was sentenced to a financial penalty of $11,000 and a suspension of seven months, with two other suspensions of six months and one month running concurrently. He was also ordered to pay fixed costs of $1,000.