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veteran real estate agent is facing the music after a taskforce accused him of playing fast and loose with property prices. Nicholas Skapoulas, who's been in the game for over three decades, is set to face Victoria's Civil and Administrative Tribunal for allegedly underquoting 11 properties through his agency, Nicholas Scott Real Estate.

    The Consumer Affairs Victoria taskforce claims that Skapoulas and his team advertised selling prices that were lower than what had been agreed with vendors. The alleged tactic of underquoting allows agents to attract more buyers without any intention of selling at the listed price, essentially setting up potential purchasers for a fall.

    If found guilty, Skapoulas could face serious consequences, including having his license suspended or revoked. Consumer Affairs Minister Nick Staikos has slammed underquoting as a dishonest practice that preys on first-home buyers, who are often the most vulnerable to being priced out of the market.

    Since its inception in 2022, the taskforce has received nearly 4,000 complaints and issued fines totaling $1.8 million to real estate agents breaching underquoting laws. Skapoulas' agency employs several other licensed agents, but it's unclear whether they're implicated in the alleged wrongdoing.