Perth homeowner thought agents were selling his home; later found out they were the buyers

A Perth homeowner says he was unaware that the real estate agents hired to sell his home also owned the company that bought it for $705,000.

Chao “Jack” Wu later discovered the connection through corporate records and said he believed the property was undersold.

A retrospective valuation put its value at $800,000, while the agents disputed the valuation and denied wrongdoing.

Western Australia’s Consumer Protection issued a formal warning to the agency over an alleged conflict of interest.