A provisional order to wind up the affairs of Wendy Machanik Properties was granted in the High Court in Johannesburg on Tuesday, Standard Bank said.

High-profile estate agent Wendy Machanik will not oppose Standard Bank's application to liquidate her agency, reports said on Monday.

The problems now being experienced by Wendy Machanik Properties, which is under investigation by the Estate Agency Affairs Board for alleged misuse of trust funds, have strengthened the perception in some people’s minds that residential real estate agencies are unregulated

Property players yesterday expressed sadness at the downfall of property doyenne Wendy Machanik, but welcomed a widespread investigation into malpractice in the industry by the Estate Agency Affairs Board.

Case between Estate Agency Affairs Board and Wendy Machanik postponed to Wednesday.

An application to stop estate agent Wendy Machanik Properties from operating was postponed in the High Court in Johannesburg on Thursday.

The South Gauteng High Court will deliver judgement on the estate agent Wendy Machanik Properties saga.

A countrywide investigation will probe 5826 estate agencies and 27769 estate agents as the Estate Agency Affairs Board throws its net wider in ensuring that firms and individuals are operating above board.

Wendy Machanik Properties was dealt a massive blow late last month when a judge ordered that its trust accounts be placed under the control of an independent curator.

Wendy Machanik Property Holdings has had its trust accounts placed under curatorship following alleged financial irregularities in the management of the accounts.