Anger as unethical agent gets award 

There is anger over a real estate agent who has been named Harcourt's Agent of the Year for his region, despite being ruled to have breached ethics by leaving an unsuspecting buyer $35,000 out of pocket.

Just days after the Ottaways bought a bungalow, they discovered an apartment block was about to be built right next door.

They say real estate agent Shaun Cosgrave knew but never told them - and they have now resold the house at an estimated loss of $35,000.

Cosgrave was fined $750 for breach of ethics and the Commerce Commission has issued him with a warning. But despite this, he is now receiving praise from his bosses for being Harcourts' top sales consultant in the central region.

"Renowned for successfully marketing as many as 100 property listings...Shaun has a total client commitment and outstanding people skills...We are very proud to have him," Harcourts said in a statement.

The Ottaways are dumbfounded.

"That's a bit of a joke. We've had no respect from him at all. We've given him numerous opportunities to put this right and he's just thrown it back in our face," says John Ottaway.

While the Real Estate Institute says it believes the case was head fairly, the government's Minister for Building Issues Clayton Cosgrove says it proves that leadership in the real estate industry is out of touch.

"As he's sitting down tonight...toasting his award he may want to spare a thought for the Ottaways. He may want to spare a thought for his real estate colleagues, and he may want to think about perhaps writing out a cheque for $35,000 that the Ottaways are out of pocket for," says Cosgrove.

The government is promising a shake-up of real estate law.