Australia’s top-ranked real estate agent has had his licence suspended by NSW Fair Trading.
Joshua Tesolin’s suspension which came into effect on Friday, will remain in place for 120 days, according to the NSW Fair Trading website.
NSW Fair Trading confirmed to the Daily Mail that both Tesolin and his company, Tesolin Consulting Pty Ltd, have been suspended. This action follows what has been described as a thorough investigation into his practices while operating under Ray White (Quakers Hill – Tesolin Group).
According to NSW Fair Trading, Tesolin is accused of numerous violations, including underquoting prices on over 100 residential properties, engaging in fake bidding at auctions, creating fraudulent documents for regulators, and applying aggressive sales tactics that go against industry standards.
Authorities allege the misconduct was not a one-off, but part of a pattern of repeated breaches of the Property and Stock Agents Act 2002.
This week, Formal Show Cause notices were issued to Tesolin and his company, requiring them to justify why they should not be subject to further disciplinary measures.
They have until August 29, 2025, to respond.
In a statement to the Daily Mail, NSW Fair Trading Commissioner Natasha Mann stated, ‘NSW Fair Trading has carried out an exhaustive investigation into this issue, spearheaded by our Strata and Property Taskforce.’
Josh Tesolin (pictured), Principal of NGU Quakers Hill (formerly Ray White) has had his real estate licence suspended by Fair Trading NSW
The NSW Fair Trading website shows that Josh Tesolin’s real estate licence has been suspended
‘The suspension of the licenses of Joshua Tesolin and Tesolin Consulting Pty Ltd underscores the gravity of the misconduct we believe occurred and highlights the necessity of upholding public trust in the property industry,’ she added.
David Mansfield from Deloitte SRT Pty Ltd has been appointed as the manager of Tesolin Consulting Pty Ltd during the suspension period. He is granted the authority to oversee and continue the business operations of Tesolin Consulting Pty Ltd in this interim period.
Under NSW law, real estate agents must provide a reasonable estimate of a property’s likely selling price in the agency agreement.
If a price range is used in advertising, the highest price must not exceed the lowest price by more than 10 per cent. In NSW, underquoting is an offence, attracting penalties of up to $22,000.
Despite the official scrutiny, the western Sydney-based agent is one of Australia’s highest-performing agents, reportedly raking in $9million in commissions over the past financial year.
During his time as a top selling agent, Tesolin and his wife, Sophia, have amassed a property portfolio estimated at more than $15million.
The suspension comes just weeks after Mr Tesolin rebranded from Ray White, to Queensland-based NGU.
Social media pages for Tesolin’s NGU Real Estate agency have been removed since Friday evening.
NGU group CEO Emil Jesuric bragged about Tesolin rebranding to them just weeks before Tesolin’s licence was suspended
Mr Tesolin and his wife Sophia (right) have amassed a major real estate portfolio worth $15million
The rebrand was confirmed by his lawyer, Lisa Jemmeson, in a statement to Daily Mail.
‘Ray White and Josh Tesolin, Australia’s number one real estate agent, today announced they will be parting ways at the end of July following a mutual agreement that supports Tesolin’s ambitions to further his own business ventures,’ she said.
Ms Jemmeson emphasised the decision to part ways was mutual, despite Ray White previously telling Daily Mail there were ‘no plans to terminate’ the relationship.
NGU chief executive Emil Jesuric bragged about Mr Tesolin joining the company in a post to social media, calling it ‘a new era’ for the expanding real estate brand.
‘[NGU is] excited to officially welcome Josh Tesolin, Australia’s #1 Agent, and his powerhouse team to the NGU family,’ Mr Jesuric wrote.
He praised Tesolin’s accolades, including multiple number-one rankings by RateMyAgent and Realestate.com.au, and highlighted their shared values of trust, loyalty, and a relentless drive for excellence.
Mr Tesolin’s departure came in the face of a ‘compliance review’ initiated by Ray White, following public reports relating to his incentive fee structures.
‘Given the seriousness and very public nature of the allegations regarding the incentive fees, we have agreed with Josh that we will undertake our own compliance review into his incentive fee arrangements,’ Ray White’s head office stated.
‘This will include looking at the nature of these arrangements, how they operated, and whether there was any misalignment with client interests.’
Any of Tesolin’s customers who are impacted are encouraged to direct any enquiries to Deloitte at gprior@deloitte.com.au or reach out directly to NSW Fair Trading on 13 32 20.
Daily Mail Australia has contacted Josh Tesolin and NGU Group for comment.
