An estate agent firm has been ordered to pay just over £40,000 for misleading customers, and allowing an employee to value a home they wanted to buy for themselves.

Illsley & Son, trading as Meridian Estate Agents in Bournemouth, had been charged with 11 offences under Unfair Trading Regulations.

Last week, it admitted nine of the allegations.

Two charges, of engaging in an aggressive commercial practice, were dropped. The latter two counts had alleged that threats had been made to withhold a buyer’s access from a property until a purchasing fee was paid.

Matthew Illsley, 35, director of the business, had initially been also charged with 11 offences, but all these allegations were dropped before a trial.

The company admitted the offences on the first day of a planned trial last week.

The prosecution said that a series of false claims were made to vendors and buyers. In one case, a buyer was told that they were needed to help with the vendor’s fee, when the seller was not required to pay a fee at all.

In another case, Meridian allowed an employee to value a property knowing that the employee had a personal interest in it.

In total, the three-branch firm was fined £5,500 and ordered to pay compensation of £24,364 plus costs of £10,000 and a £170 victim surcharge – altogether £40,034.

The prosecution had been brought by Trading Standards.

Cllr Lewis Alison of Bournemouth Christchurch and Poole Council said: “Following a complaint to our Trading Standards team, an investigation was carried out into the practices of Meridian Estate Agents.

“This uncovered further evidence that buyers and sellers had been misled about an offer relating to the fees charged by the agent.

“The company also fell short of the requirements of professional diligence by allowing a member of staff to value a property for which they had a personal interest.

“Buying and selling a house is one of the largest financial decisions made by consumers and estate agents have a duty in law to provide full and accurate information.

“Fulfilling our own responsibility to protect consumers, we are pleased by the result of the court action, which has included significant compensation to those affected.’’

Meridian remains open, according to the local paper. However, Rightmove listings for the three offices – Christchurch, Bournemouth, and Poole – disappeared yesterday afternoon.

According to Companies House, there was a First Gazette notice for the voluntary strike-off of Illsley & Son but this has been suspended.

https://www.bournemouthecho.co.uk/news/17997755.bournemouth-estate-agent-ordered-pay-misleading-customers/