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A Sydney agent lost her license for a year and was fined $11,000 for buying a vulnerable elderly man’s home far below market value.
A Sydney real estate agent, Rachelle Carmen Nohra, had her license suspended for one year and was fined $11,000 after a tribunal found she exploited an 82-year-old man with Alzheimer’s and alcohol issues by buying his home for $600,000—$500,000 below market value—despite knowing a similar home sold for $1.1 million.
Purchasing the property in her personal name, she promised the man he could stay for life, but the tenancy agreement allowed eviction with just 90 days’ notice.
The tribunal concluded she failed to recognize the conflict of interest and the man’s vulnerability, profited significantly at his expense, and fell short of professional standards, harming public trust.
While she claimed her actions were well-intentioned, the tribunal found her lack of ethical insight concerning.
Though Fair Trading sought a three-year ban and license cancellation, the tribunal deemed that too severe and instead upheld the suspension, fine, and mandatory training.
Nohra and her company have not commented.
Una agente de Sydney perdió su licencia por un año y fue multada con 11.000 dólares por comprar la casa de un anciano vulnerable, muy por debajo del valor de mercado.