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Real estate agents accused of price inflation scam

ABC.net.au

Gold  Coast real estate agents are accused of being involved in a scheme to  profit off distorted sale prices.

Gold Coast real estate agents are accused of
being involved in a scheme to profit off distorted
sale prices.


Queensland's Office of Fair Trading is investigating allegations that some Gold Coast real estate agents may have been involved in a scheme to make quick profits by creating bogus inflated sale prices.

Fair Trading Minister Peter Lawlor says he has received a complaint that parties have colluded to inflate property prices and distort their values.

Mr Lawlor says he has referred the allegations to the Office of Fair Trading.

"If there's any irregularity in relation to the agents involved, they'll be investigating that," he said.

"If it's an issue of fraud, that is, as I understand it, being investigated by the police."