Top WA realtor disqualified from awards over sales inaccuracies

Roy Li, a real estate agent recognized among Western Australia's top performers, has been disqualified from this year's industry awards following the discovery of significant discrepancies in his reported property sales data. The Real Estate Institute of Western Australia (REIWA), which provides property transaction data, made the decision after inconsistencies emerged.

Li, a licensee and director at Ideal Realty WA, was previously ranked in the top one percent of agents based on the value of properties sold. However, his eligibility for this year's awards was revoked due to inaccuracies in the data he submitted. The situation is serious enough that information he provided for previous years is also subject to review.

Earlier this week, reports revealed that Western Australia's Consumer Protection agency had issued a warning to Ideal Realty. This followed allegations that Li used a shell company in 2024 to purchase a home he was contracted to sell, though he claims he disclosed his interest to the seller. Further analysis by ABC News found that the sales prices Li reported to REIWA for at least one-third of his listed properties did not align with the official land title register.

Additionally, records indicated that Li or his co-licensee recorded the sales of six properties they personally owned, adding nearly $10 million to his annual sales tally. These properties were also incorrectly listed as sold on other real estate websites in 2021 and 2024. Li attributed these instances to an "administrative error," stating the properties were withdrawn from the market but mistakenly recorded as sold. Following inquiries, these sales records were removed from the REIWA website. Li acknowledged broader inaccuracies, stating, "Ideal Realty recently identified errors in some historical sales-price entries, where advertised prices had been entered instead of the final prices recorded in accepted contracts."

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Ideal Realty recently identified errors in some historical sales-price entries, where advertised prices had been entered instead of the final prices recorded in accepted contracts.