A disgraced real estate agent under investigation for his involvement in the flipping of Avondale Bowling Club land says morals and business don't go hand in hand.

Controversial businessman Aaron Drever has said he regretted the bowling club transaction because of the negative publicity it earned him.

The December 2016 sale is the subject of a Real Estate Authority inquiry after the land was sold twice in one day for a $570,000 profit.

The transaction was facilitated by Drever, who won awards as an agent, clocking up millions of dollars in sales across West Auckland.

The club made the first sale to a company owned by Drever's relative for $300,000, and that company on-sold it the same day to a developer for $870,000.

The developer later said he thought he was buying the property from the bowling club, and bowling club president Pat Bell told a District Licensing Committee hearing in August last year the sale was a "huge mistake".

Drever now says he regrets the deal.

"Was this transaction illegal? No it wasn't. Everyone knew about it," Drever reportedly said. "Was it morally not right? Well, whose morals? You and I both know morals and business aren't two things that are hand in glove.

"Would I do the transaction again? I don't know. Maybe if I didn't have journalists following me around, probably I wouldn't."

Speaking further about his latest business venture failure, Drever said he had lost his commercial reputation.

Drever declined to comment when contacted by the Herald.

His latest business interest, The Grocer's Market, is now in receivership.

Drever previously told the Herald he had poured cash into the business, having remortgaged his million-dollar home, after buying the former Nosh brand.

He has now admitted losing millions on the venture but says he tried his best and "genuinely believed it was going to work".

Drever was stripped of his real estate agent license in 2016 after racking up 11 formal complaints, nine disciplinary proceedings and two misconduct offences.

He has more adverse findings than any other New Zealand agent with an industry watchdog earlier warning that the public needed to be protected from him.