Shock Suspension Shakes Australian Property Market
, Josh Tesolin, has just hit headlines—for all the wrong reasons. On Friday, NSW Fair Trading officially suspended his licence for 120 days. This sudden move follows serious allegations of misconduct in the real estate sector.
The Charges: Underquoting, Dummy Bidding, and More
According to NSW Fair Trading, Tesolin is facing a laundry list of accusations. These include:
Underquoting the price on over 100 properties
Dummy bidding during auctions
Falsifying documents submitted to regulators
Using high-pressure tactics against industry guidelines
These aren’t one-off mistakes. Authorities say the actions show a pattern of repeated breaches under the Property and Stock Agents Act 2002.
NSW Fair Trading Takes Firm Action
Fair Trading has already sent formal Show Cause notices to both Tesolin and his company, Tesolin Consulting Pty Ltd. The question: why shouldn’t further disciplinary actions follow?
They have until August 29, 2025, to respond.
Fair Trading Commissioner Natasha Mann confirmed the suspension was the result of an extensive investigation. Led by the Strata and Property Taskforce, the probe uncovered practices that “undermine public trust.”
New Management Appointed
During the suspension, Deloitte’s David Mansfield has stepped in. As the newly appointed manager of Tesolin Consulting, he has the green light to continue business operations under tight scrutiny.
What’s the Law Say About Underquoting?
In NSW, underquoting is illegal. Agents must provide a realistic price estimate in the agency agreement. If using a price range in marketing, the upper limit must be no more than 10% above the lower limit.
Breaking this rule carries hefty penalties, including fines of up to $22,000 per offence.
From Real Estate Star to Industry Controversy
Despite the fallout, Tesolin has been a top-performing agent. His $9 million commission haul from the past financial year shows his grip on the market. Together with his wife, Sophia, the couple has built a $15 million property portfolio.
Tesolin had long been the crown jewel of Ray White, a real estate giant. But things shifted fast.
Tesolin’s Quiet Rebrand to NGU Real Estate
Just weeks before the suspension, Tesolin quietly rebranded to NGU Real Estate, based in Queensland. The news shocked many in the industry. Tesolin’s team wiped their social media presence late Friday.
The rebrand was confirmed by his lawyer, Lisa Jemmeson, who stated:
Interestingly, Ray White previously denied having plans to end the relationship. That raises questions about behind-the-scenes tensions.
NGU CEO Celebrates Tesolin’s Arrival
NGU CEO Emil Jesuric welcomed Tesolin with open arms. He called it a “new era” for NGU and praised Tesolin’s track record.
> “We’re thrilled to have Australia’s #1 Agent on board,” said Jesuric.
He also highlighted their shared values—trust, loyalty, and a drive for excellence.
What Happens Next?
All eyes are now on the clock ticking down to August 29. Tesolin and his team must defend themselves or risk further penalties. The real estate world is waiting to see if this is the end of a career or just a bump in the road.
For now, the agent once hailed as the best in the country faces an uncertain future—and a very public reckoning.