Concerns about elder exploitation have erupted after a Sydney real estate agent purchased a home at a significantly undervalued price from a vulnerable elderly man with Alzheimer’s symptoms she held power of attorney over.

Rachelle Norah was suspended for 12 months and fined $11,000 for buying a home from a vulnerable 82-year old man with alcohol problems for $500,000 under market value one month after the house next door sold for $1.1m.

The agent with a decade of experience went to the NSW Civil and Administrative Tribunal to overturn the decision, arguing that she did the right thing when she purchased the home for $600,000 at a significantly undervalued price in April 2023.

But the decision was upheld by the tribunal ruling the agent engaged in misconduct and took advantage of the ma

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