One of Australia’s most high-profile and controversial real estate agents has parted ways with Ray White amid an active investigation into his business practices.
Josh Tesolin, previously a top-performing agent under the Ray White banner, has officially joined NGU Real Estate.
The termination of his agreement with Ray White will take effect on July 31.
The rebrand was confirmed by his lawyer, Lisa Jemmerson, in a statement to Daily Mail Australia on Wednesday.
‘Ray White and Josh Tesolin, Australia’s number one real estate agent, today announced they will be parting ways at the end of July following a mutual agreement that supports Tesolin’s ambitions to further his own business ventures,’ she said.
Jemmerson emphasised the decision to part ways was mutual, despite Ray White previously stating a week earlier there were ‘no plans to terminate’ the relationship.
NGU group CEO Emil Jesuric confirmed Tesolin’s move in a post to social media, calling it ‘a new era’ for the expanding real estate brand.
‘[NGU is] excited to officially welcome Josh Tesolin, Australia’s #1 Agent, and his powerhouse team to the NGU family,’ Mr Jesuric wrote.
Josh Tesolin, previously a top-performing agent under the Ray White banner, has now joined NGU Real Estate. He is pictured outside the Ray White Quakers Hill branch
NGU group CEO Emil Jesuric (left) confirmed Tesolin’s move in a post to social media, calling it ‘a new era’ for the rapidly expanding real estate brand (the agent is pictured right)
He praised Tesolin’s accolades, including multiple #1 rankings by RateMyAgent and Realestate.com.au, and highlighted their shared values of trust, loyalty, and a relentless drive for excellence.
Tesolin’s departure comes in the face of a ‘compliance review’ initiated by Ray White, following public reports of alleged misconduct relating to his incentive fee structures.
‘Given the seriousness and very public nature of the allegations regarding the incentive fees, we have agreed with Josh that we will undertake our own compliance review into his incentive fee arrangements,’ Ray White’s head office stated.
‘This will include looking at the nature of these arrangements, how they operated, and whether there was any misalignment with client interests.’
Tesolin expressed his gratitude as he reflected on his time with Ray White.
‘I’m incredibly excited about what the future holds. I particularly want to pay my respects to the group,’ he said.
‘My time with the White family has been absolutely incredible – they’ve supported my growth every step of the way and I couldn’t be more grateful for the opportunities they’ve provided.
‘This decision hasn’t been taken lightly but I’m energised by the challenge ahead.
Despite the controversy, Tesolin (pictured centre) remains one of Australia’s most successful agents, reportedly earning around $9million in commissions in 2024
‘I’m looking forward to bringing the same level of service and excellence that Ray White is known for into this new venture, while creating something unique for my clients and team.’
Despite the controversy, Tesolin remains one of Australia’s most successful agents, reportedly earning around $9million in commissions in 2024.
A NSW Fair Trading spokesperson confirmed Tesolin and Ray White Quakers Hill remain under active investigation.
‘The Strata and Property Services Taskforce within NSW Fair Trading is investigating Quakers Hill Ray White Real Estate and Josh Tesolin following proactive compliance blitzes into underquoting and complaints,’ they said.
‘As this investigation is ongoing, no further comment is available at this time.’
The investigation is expected to conclude in the coming weeks.
Under NSW law, real estate agents must provide a reasonable estimate of a property’s likely selling price in the agency agreement.
If a price range is used in advertising, the highest price must not exceed the lowest price by more than 10 per cent. In NSW, underquoting is an offence, attracting penalties of up to $22,000.
Daily Mail Australia is not suggesting Mr Tesolin has engaged in underquoting, only that NSW Fair Trading is investigating his agency in Quakers Hill.
