Latest news with #TesolinConsulting
Daily Telegraph
20 hours ago
- Business
- Daily Telegraph
‘Serious': Why top Sydney agent Josh Tesolin was suspended
Don't miss out on the headlines from National. Followed categories will be added to My News. A high-flying Sydney real estate agent has been suspended for allegedly underquoting the selling price of more than 100 properties and dummy bidding at auctions. NSW Fair Trading also alleged Josh Tesolin, of Tesolin Consulting, had produced false documents to the watchdog and breached rules of conduct by using 'high pressure sales tactics'. The regulator announced over the weekend that Mr Tesolin had been suspended immediately for four months, pending possible disciplinary action, for engaging in 'serious and repeated breaches of the Property and Stock Agents Act 2002'. 'The conduct is believed to have occurred while Mr Tesolin and Tesolin Consulting operated under the banner of Ray White (Quakers Hill – Tesolin Group),' it said. Former Ray White real estate agent Josh Tesolin has been suspended for four months. Picture: Supplied Mr Tesolin was named agent of the year in 2021. Picture: AAP/Monique Harmer Mr Tesolin, 29, was raised in Sutherland Shire by parents who owned Fantastic Furniture stores. Before his suspension he was Ray White's top-performing realtor internationally and was crowned the number one residential agent at the Annual REA Excellence Awards in 2021. He boasted on social media he had earned more than $9 million in commissions this financial year. The Rolex-wearing and Bentley-driving agent's own property portfolio was worth more than $15 million. As principal of Ray White Quakers Hill he had a focus on properties in Sydney's western suburbs. In 2023 he employed 30 staff at the branch, including his mother as general manager and his wife as office manager. Mr Tesolin and Ray White have reportedly terminated their franchise agreement. When contacted Mr Tesolin on Monday, his lawyer said he would not be making any statements to the media. NSW Fair Trading said David Mansfield of Deloitte had been appointed manager of Tesolin Consulting during the suspension. Impacted customers were encouraged to direct any enquiries to Deloitte or reach out directly to NSW Fair Trading on 13 32 20. Originally published as 'Serious': 'Top-performing' real estate agent suspended
Courier-Mail
21 hours ago
- Business
- Courier-Mail
‘Serious': Why top Sydney agent Josh Tesolin was suspended
Don't miss out on the headlines from National. Followed categories will be added to My News. A high-flying Sydney real estate agent has been suspended for allegedly underquoting the selling price of more than 100 properties and dummy bidding at auctions. NSW Fair Trading also alleged Josh Tesolin, of Tesolin Consulting, had produced false documents to the watchdog and breached rules of conduct by using 'high pressure sales tactics'. The regulator announced over the weekend that Mr Tesolin had been suspended immediately for four months, pending possible disciplinary action, for engaging in 'serious and repeated breaches of the Property and Stock Agents Act 2002'. 'The conduct is believed to have occurred while Mr Tesolin and Tesolin Consulting operated under the banner of Ray White (Quakers Hill – Tesolin Group),' it said. Former Ray White real estate agent Josh Tesolin has been suspended for four months. Picture: Supplied Mr Tesolin was named agent of the year in 2021. Picture: AAP/Monique Harmer Mr Tesolin, 29, was raised in Sutherland Shire by parents who owned Fantastic Furniture stores. Before his suspension he was Ray White's top-performing realtor internationally and was crowned the number one residential agent at the Annual REA Excellence Awards in 2021. He boasted on social media he had earned more than $9 million in commissions this financial year. The Rolex-wearing and Bentley-driving agent's own property portfolio was worth more than $15 million. As principal of Ray White Quakers Hill he had a focus on properties in Sydney's western suburbs. In 2023 he employed 30 staff at the branch, including his mother as general manager and his wife as office manager. Mr Tesolin and Ray White have reportedly terminated their franchise agreement. When contacted Mr Tesolin on Monday, his lawyer said he would not be making any statements to the media. NSW Fair Trading said David Mansfield of Deloitte had been appointed manager of Tesolin Consulting during the suspension. Impacted customers were encouraged to direct any enquiries to Deloitte or reach out directly to NSW Fair Trading on 13 32 20. Originally published as 'Serious': 'Top-performing' real estate agent suspended
News.com.au
21 hours ago
- Business
- News.com.au
‘Serious': ‘Top-performing' real estate agent suspended
A high-flying Sydney real estate agent has been suspended for allegedly underquoting the selling price of more than 100 properties and dummy bidding at auctions. NSW Fair Trading also alleged Josh Tesolin, of Tesolin Consulting, had produced false documents to the watchdog and breached rules of conduct by using 'high pressure sales tactics'. The regulator announced over the weekend that Mr Tesolin had been suspended immediately for four months, pending possible disciplinary action, for engaging in 'serious and repeated breaches of the Property and Stock Agents Act 2002'. 'The conduct is believed to have occurred while Mr Tesolin and Tesolin Consulting operated under the banner of Ray White (Quakers Hill – Tesolin Group),' it said. Mr Tesolin, 29, was raised in Sutherland Shire by parents who owned Fantastic Furniture stores. Before his suspension he was Ray White's top-performing realtor internationally and was crowned the number one residential agent at the Annual REA Excellence Awards in 2021. He boasted on social media he had earned more than $9 million in commissions this financial year. The Rolex-wearing and Bentley-driving agent's own property portfolio was worth more than $15 million. As principal of Ray White Quakers Hill he had a focus on properties in Sydney's western suburbs. In 2023 he employed 30 staff at the branch, including his mother as general manager and his wife as office manager. Mr Tesolin and Ray White have reportedly terminated their franchise agreement. When contacted Mr Tesolin on Monday, his lawyer said he would not be making any statements to the media. NSW Fair Trading said David Mansfield of Deloitte had been appointed manager of Tesolin Consulting during the suspension. Impacted customers were encouraged to direct any enquiries to Deloitte or reach out directly to NSW Fair Trading on 13 32 20.
The Age
3 days ago
- Business
- The Age
Underquoting, dummy bidding, false documents: Why ‘Teflon' Sydney agent was suspended
High-earning real estate agent Josh Tesolin has openly admitted that he has been the subject of an ongoing investigation by the NSW Office of Fair Trading in recent months, publicly decrying what he might have done to earn such scrutiny. 'I'd like to hear what it is. And I'd like to respond back as fully as possible with the truth,' said Tesolin, known among his contemporaries as 'Teflon Josh'. Now he knows: Dummy bidding, underquoting, high pressure sales tactics and producing false documents to Fair Trading are among the allegations being levelled against one of Australia's top-earning real estate agents. An extensive investigation by the regulator has landed Tesolin and his private real estate company, Tesolin Consulting, a four-month licence suspension – pending possible disciplinary action – over allegations that he has committed serious and repeated breaches of the law. Included in the allegations are more than 100 cases of underquoting by Tesolin, all while his corporate interests operated under the Ray White Quakers Hill banner. Loading Fair Trading's suspension comes on the day The Sydney Morning Herald and The Age launched Bidding Blind, an exhaustive 18-month data investigation into what has been revealed to be industrial-scale underquoting across Sydney and Melbourne's auction markets. An investigation by this masthead into Tesolin's business conduct a month ago revealed a unique incentive scheme whereby he charged clients tens of thousands of dollars' extra commission by way of a last-minute incentive payment he said would boost buyer interest. The scheme meant people who were selling their houses in suburbs such as Quakers Hill and Acacia Gardens had their initial commission of $40,000-plus increased to more than $75,000 and $80,000 as part of the last-minute proposal.
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
Underquoting, dummy bidding, false documents: Why ‘Teflon' Sydney agent was suspended
High-earning real estate agent Josh Tesolin has openly admitted that he has been the subject of an ongoing investigation by the NSW Office of Fair Trading in recent months, publicly decrying what he might have done to earn such scrutiny. 'I'd like to hear what it is. And I'd like to respond back as fully as possible with the truth,' said Tesolin, known among his contemporaries as 'Teflon Josh'. Now he knows: Dummy bidding, underquoting, high pressure sales tactics and producing false documents to Fair Trading are among the allegations being levelled against one of Australia's top-earning real estate agents. An extensive investigation by the regulator has landed Tesolin and his private real estate company, Tesolin Consulting, a four-month licence suspension – pending possible disciplinary action – over allegations that he has committed serious and repeated breaches of the law. Included in the allegations are more than 100 cases of underquoting by Tesolin, all while his corporate interests operated under the Ray White Quakers Hill banner. Loading Fair Trading's suspension comes on the day The Sydney Morning Herald and The Age launched Bidding Blind, an exhaustive 18-month data investigation into what has been revealed to be industrial-scale underquoting across Sydney and Melbourne's auction markets. An investigation by this masthead into Tesolin's business conduct a month ago revealed a unique incentive scheme whereby he charged clients tens of thousands of dollars' extra commission by way of a last-minute incentive payment he said would boost buyer interest. The scheme meant people who were selling their houses in suburbs such as Quakers Hill and Acacia Gardens had their initial commission of $40,000-plus increased to more than $75,000 and $80,000 as part of the last-minute proposal.
