1 August 2014 - The Estate Agents Authority announced that in the first six months of this year, a record 30 agents had their licenses revoked. This is 1.5 times higher than the figure for the whole of last year. Most of them, however, were because of cases unrelated to the property industry.
Nevertheless, Estate Agents Authority CEO Ruby Hon highlighted a complaint that was received regarding a certain property agent who had encouraged home buyers to produce false income profiles in order to obtain bank mortgages. Hon said that the nature of this type of case is "very serious" and the Authority will conduct an investigation that may lead to the writing off the license of the alleged property agent.
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