Western Australia raids Ideal Realty amid new conflict-of-interest evidence

Western Australia’s consumer protection department executed a search warrant at Ideal Realty’s Willetton office after receiving fresh evidence about a 2024 sale in Kenwick. The agency had previously warned the firm that its owners, Roy Li and Lynn Ting, may have breached conflict-of-interest rules by buying a client’s house through a shell company called Generation Two without full disclosure. The raid targeted documents tied to that deal, and the commissioner, Trish Blake, said the investigation could lead to fines of $25,000 for the company or $5,000 for individuals, and possibly a fit-and-proper test before the State Administrative Tribunal.

Li has also been referred to the Real Estate Institute of WA’s professional standards tribunal for listing inaccurate sale prices, an issue found in about a third of his listings. He claims the errors were due to mistakenly posting asking prices and later removing properties he owned. The case highlights regulatory scrutiny of real-estate practices in the state.