WA Consumer Protection warns agency after agents' firm bought client's home below value

A Perth homeowner, Chao 'Jack' Wu, sold his property for $705,000 without knowing that the real estate agents he hired were connected to the buying company. Wu later uncovered the conflict of interest through corporate records and suspected the home had been undersold. A retrospective valuation assessed the property's worth at $800,000, though the agents disputed this figure and denied any wrongdoing. Western Australia's Consumer Protection authority subsequently issued a formal warning to the agency over the alleged conflict of interest.