Complaints on increase

The Estate Agents Authority (EAA) received 582 complaints in the first nine months this year.

This compared with 67 complaints it received from its inception in July last year to December, an EAA spokesman said.

Chief executive Grace Chow Chan Man-yuen said the authority needed to ensure the stability of its financial position to handle the growing number of complaints.

She said a 10 per cent cut in agent's fees from January was all it could afford. The industry demanded 50 per cent.

Licences cost $2,300 for a salesman and $5,000 for a company.