A prominent real estate agent has alleged he is facing discrimination due to his migrant status after NSW Fair Trading suspended his operating licence. Deepak Bangarh, owner of DKB Real Estate in Bella Vista, located in north-west Sydney, has been suspended for 60 days while authorities investigate his sale price estimates.
Allegations of Misconduct and Discrimination
NSW Fair Trading investigators have accused Mr Bangarh of misrepresenting selling prices, failing to substantiate estimated selling prices, and not passing on all purchase offers to vendors as legally required. In response, Mr Bangarh, who is ranked third nationwide in the Real Estate Business dealmakers award, told the Sydney Morning Herald that he believes he is a victim of racial discrimination, with jealous local rivals attempting to undermine his success.
'I know I didn't do anything wrong,' Mr Bangarh stated. 'I feel like I'm a victim of jealousy and discrimination as a migrant from other agents locally working against me.' On the DKB website, he is described as a people person and a 'great negotiator who provides dependable insights and knowledge'.
Broader Context of Real Estate Suspensions
This incident follows the suspension of Quakers Hill agent Josh Tesolin's real estate licence six months ago by the Office of Fair Trading. NSW Fair Trading alleged Mr Tesolin engaged in multiple offences, including:
- Underquoting the selling price of over 100 residential properties
- Dummy bidding at auctions
- Producing false documents for regulators
- Using high-pressure sales tactics in breach of industry rules
Underquoting is an illegal practice where agents intentionally advertise property prices lower than estimated to attract buyers and generate higher interest. Authorities claim this misconduct was part of a pattern of repeated breaches of the Property and Stock Agents Act 2002.
At the time of his suspension, Mr Tesolin was Australia's top-ranked real estate agent, earning more than $9 million in commissions in the previous financial year. He has publicly rejected allegations of breaching property laws, stating in a podcast interview that the investigation had been ongoing for three years and that he complied fully with regulator requests.
Additional Regulatory Actions
In a separate case, NSW Fair Trading cancelled the real estate licence of Epping agent John Kim and disqualified him for five years for misappropriating approximately $300,000 of trust monies. Investigators found that deposits from properties in Castle Hill and North Curl Curl had been fraudulently removed from company accounts.
NSW Fair Trading Commissioner Natasha Mann emphasized the seriousness of such actions, stating: 'The manipulation of estimated selling prices and the advertising of a property for less or more than its estimated selling price misleads consumers and vendors, and causes costs, delay and time wasted.' She noted that over the last 12 months, disciplinary action has been taken against more than 50 real estate agents, including suspensions and disqualifications for offences like misappropriation of trust accounts and price misrepresentations.
Daily Mail has contacted Mr Bangarh for further comment on the allegations and his discrimination claims.
