Elizabeth Redman
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A Melbourne real estate agent has narrowly avoided jail time after taking nearly $100,000 out of his agencyâs trust account and splurging on luxury cars and private school fees.
MIG Real Estateâs Amit Miglani was sentenced to a community corrections order with conviction for 18 months, requiring 300 hours of unpaid community work, in Melbourne Magistratesâ Court on Wednesday.
Amit Miglani pleaded guilty, which entitled him to a lower penalty.Â
Magistrate Tara Hartnett said she would have sent Miglani to jail, except that he pleaded guilty, which entitled him to a lower penalty.
âThis is serious offending,â she said. âIt was not offending motivated by need.â
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Underquoting? Auction results soar above quoted price guides
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Melbourne buyers and their advocates are calling for a crackdown on underquoting as properties continue to sell for hundreds of thousands of dollars beyond the top range of price estimates.
Consumer Affairs Victoria has been inundated with complaints about underquoting, recording 383 inquiries between February and the end of April, a 129 per cent increase on the same period last year and up 34 per cent from 2019.
One Caulfield North property recently sold for $1.56 million, despite having a price tag of $1 million to $1.1 million. In Melbourne’s west, a Kingsville house sold for $1.4 million but was advertised with a price range of $1 million to $1.1million.
Underquoting? Auction results soar above quoted price guides
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