A Sydney real estate agent has been suspended for 12 months and fined $11,000 after she bought the home of an elderly man with Alzheimer’s for half its value.
Rachelle Nohra is the director of Eser Property, where she is described as knowing ‘what it takes to go that extra mile for her clients’.
Ms Nohra has denied she took advantage of a 82-year-old man with alcohol problems and a form of dementia when she purchased his home in April, 2023.
The agent bought the property for $600,000, one month after the neighbouring home sold for $1.1million, meaning she paid at least $500,000 under market value.
The Civil and Administrative Tribunal was told Ms Nohra had power of attorney over the man, who relied on her to manage his personal finances.
He agreed to sell the home on the condition that he could remain there for as long as he required, but the agent failed to secure his tenure.
This put the elderly man at risk of a 90-day eviction, which means he would only have three months to find alternative accommodation.
Civil and Administrative Tribunal Senior Member Lachlan Bryant said the man had been isolated and vulnerable when he was approached by Ms Nohra.
Rachelle Nohra (pictured) is the director of Eser Property, where she is described as knowing ‘what it takes to go that extra mile for her clients’
Ms Nohra has denied she took advantage of a 82-year-old man with alcohol problems and a form of dementia when she purchased his home in April, 2023 (stock)
He said the pensioner didn’t have the mental capacity to sell his home.
‘(Ms Nohra’s) belief that purchasing (the man’s) property in the circumstances was the right thing to do is of serious concern,’ he said.
‘(Her) conduct may put the real estate industry into disrepute and falls short of the community’s expectations of a licence holder.’
He upheld a decision by the Commissioner of Fair Trading to suspend Ms Nohra’s licence for 12 months and fine her $11,000.
Mr Bryant said the agent took advantage of the elderly man for her own financial benefit, and that her actions were ‘deliberate’ and of major harm and severity.
Daily Mail has contacted Ms Nohra for further comment.
On the Eser Property website, she is described as a passionate, energetic and experienced real estate agent who has worked in the industry for a decade.
‘Her strengths include persistence, patience and working tirelessly to get the best possible result,’ her agent bio reads.
