The $485,000 investment property of a landlord living abroad was sold without his knowledge after a Perth real estate agent was conned by scammers posing as the homeowner.
The sale occurred in June 2010 following a series of emails claiming the owner needed to sell the Karrinyup duplex in Perth's north due to financial hardship, Western Australia's consumer protection watchdog says.
It is urging real estate agents to be more vigilant.
The landlord says he learned of the sale last week and returned to Australia to find the sale of his second investment property was at settlement stage because of the scam.
He has since stopped that sale.
An investigation involving the Real Estate and Business Agents Supervisory Board (REBA) and the Settlement Agents Supervisory Board (SASB) is underway.
Both boards have distributed an urgent bulletin to WA's real estate and settlement agents advising them of the alleged scam and the need to confirm the identity of property owners.
Commissioner for Consumer Protection Anne Driscoll said in a statement that real estate agents needed to ensure they were selling a property on behalf of the rightful owner by demanding proof of identification.
That could include driver's licences and passports, she said.
"In light of this alleged scam a more stringent verification process would be advisable, which may include checking title deeds or asking for evidence of a mortgage being paid against the property," Ms Driscoll said.
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