Office of Fair Trading QLD: Purpose, Legislation & Property Law Guide
Discover the role of the Office of Fair Trading in QLD, key legislation, statistics, real-world examples, and how property owners and businesses can benefit. Stay compliant with expert insights from a property law solicitor.
What is the Office of Fair Trading QLD?
The Queensland OFT acts as the state’s regulator for fair trading in the marketplace, addressing consumer complaints, licensing industries (including property agents), and targeting unlawful conduct. Its mandate is to ensure a high standard of conduct, product safety, and fair exchange.
Key Purposes of the OFT
- Promoting a fair, safe, and competitive marketplace for Queenslanders
- Enforcing the Fair Trading Act 1989 (Qld) and Australian Consumer Law
- Licensing and regulating professionals in sectors like real estate, motor dealings, and debt collection
- Investigating consumer complaints and alleged breaches
- Educating consumers and traders about their rights and obligations
- Ensuring appropriate handling of trust account money in property transactions
Who Uses the OFT and Why?
Consumers:
- Lodging complaints about misleading conduct, unsafe products, or unlicensed services
- Seeking redress for unfair marketplace practices
Businesses & Agents:
- Obtaining required occupational licences (property agents, real estate agencies, auctioneers)
- Complying with regulations that maintain reputation and reduce litigation risk
Legal Professionals/Solicitors:
- Advising clients on compliance, disputes, and due diligence in property transactions
- Representing clients in disputes involving OFT investigations
- For resources on conveyancing and property compliance, see our internal guides on conveyancing in Queensland and the importance of property searches.
Key Legislation Administered
- Fair Trading Act 1989 (Qld)
- Australian Consumer Law (Schedule 2 of the Competition and Consumer Act 2010)
- Property Occupations Act 2014 (Qld)
- Agents Financial Administration Act 2014 (Qld)
- Residential Tenancies and Rooming Accommodation Act 2008 (Qld)
See the official government registrar for the full list of current Queensland legislation.
Statistics: OFT in Numbers
The OFT processes thousands of occupational licence applications annually, including real estate and letting agents.
In 2020–21, OFT undertook action against 49 entities through the courts, and several major investigations involved the misuse of over $1 million in trust account money.
Over 50 complaints may be investigated at any one time, involving consumer detriment of $50,000+ per matter.
Examples of OFT Investigation Scenarios
Cairns letting agent jailed: In 2020, a property manager was convicted of 437 offences involving the misuse of $292,393 in trust money, false records, and misleading owners. The agent was investigated and prosecuted by OFT, highlighting the importance of trust account compliance in property transactions.
Brisbane real estate agent jailed: In 2024, an agent misappropriated $1.4 million in trust funds and covered it up through false accounting, resulting in imprisonment and orders for restitution.
Sunnybank agent fined and banned: In 2024, hefty fines and a 10-year industry ban were handed down after trust account mismanagement and dishonest conduct.
Product Safety: Businesses selling unsafe or recalled products face investigation, forced recalls, and penalties under OFT oversight.
Internal Links for Further Reading
- Understanding Property Searches
- Queensland Conveyancing Process
- Dealing with OFT Investigations
- Avoiding Common Real Estate Mistakes
Why the OFT Matters for Property Law and Local Business
Failure to comply with OFT requirements leads to significant legal, reputational and financial risks. As property lawyers, expert engagement with the OFT ensures seamless transactions and robust protection for clients. If considering a property deal, confirm that all parties hold appropriate licences and that trust money is handled correctly—to check, visit the OFT’s online licence register.
For tailored legal support on property compliance, audits, or dealing with OFT investigations, contact our experienced property law team at Mint Legal.