Compensation referral / unsatisfactory conduct / licensees found liable for misleading advertisement / clear ‘red flag’ in LIM report that office-rumpus not habitable as third bedroom / should have been apparent to reasonably competent licensee that further investigation required / Real Estate Agents Act 2008, s50, s93, s110 / Professional Rules 2012, r5.1, r6.4 / HELD / loss of value measured at point of purchase / market value of two-bedroom dwelling at time of purchase higher than price paid / no actual loss suffered / no award for emotional distress can be made in absence of primary or actual loss / no award for invalid expert’s report / Tribunal does not follow civil court principle of ‘costs follow the event’ and directs submissions on costs / compensation referral dismissed
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