An Auckland real estate agent has been stripped of his licence after on-selling a house on the same day for a hiked-up price.
The Real Estate Agents Disciplinary Tribunal has decided to cancel the licence of former Barfoot and Thompson Papatoetoe agent, Aaron Hughes.
Mr Hughes had earlier admitted a misconduct charge over the sale, for failing to obtain the best possible price for the vendors and bringing the industry into disrepute.
The Papatoetoe property was on-sold on the same day with a 15 percent mark-up.
Mr Hughes also admitted on-selling another house within a few days.
The Real Estate Agents Authority has welcomed the cancellation of Mr Hughes' licence, saying it sent a clear message to the industry.
Mr Hughes will not be able to hold a real estate licence for five years.