An Auckland real estate agent has been sacked after buying a property from two pensioners, and re-selling it for a massive profit.
Barfoot & Thompson agent Aaron Hughes is now being investigated by the industry's watchdog body.
He bought a property in Mt Wellington for $530,000, $100,000 less than its CV, and on-sold it less than four months later for more than $1.2 million.
Pensioner Jack Tata said he had never sold a house before and had contacted a real estate agent for help, when Hughes was recommended to him.
"I thought he was doing me a good deal."
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