Real estate firm cleared
A Queenstown real estate company and an agent have been exonerated by the industry watchdog after a seller complained.
An initial complaint by American Paul Weber that agency Brown's Real Estate, trading as NZ Sotheby's International Realty, and agent David Penrose failed to achieve a special high price for an Arthurs Pt property was dismissed.
The tribunal found that it was simply not proven that Brown's failed in its duty to achieve a special price.
Mr Weber's property was listed at $1,195,000 and the seller alleged that he made it clear to the realtor that he wanted to know if a neighbour made an offer, because he felt the neighbour would be willing to pay a higher price than other prospective buyers to avoid the property being subdivided.
In a separate decision, the authority rejected a bid by Mr Penrose and Sotheby's for suppression of names and details and the location.
The tribunal said justice must be seen to be done and the agent and the firm were exonerated.