AN unlicensed Victorian real estate agency, its directors and its agent's representative have avoided criminal prosecution after the company agreed to forfeit $150,000 in commissions.

Real Estate Logics Pty Ltd is the second Biggin & Scott franchise to consent to such an arrangement with the director of Consumer Affairs Victoria.

The commissions were for sales transactions for 16 homes.

Consent orders made yesterday vacated interim injunctions last year that stopped the company trading and restrained the three men from dealing with it.

An order had also frozen the assets of Real Estate Logics that stopped payments from its sales trust account unless under special conditions.

Elias Rallis, for Consumer Affairs, yesterday filed the consent orders in Melbourne Magistrates Court that included a $150,000 payment to the Victorian Property Fund.

Under the orders, Real Estate Logics agrees not to trade until licensed and its two directors not act as estate agents with it until it is.

But Renzo Tomasino, company co-director and one of three signatories to the orders, protested about paying the money to the fund.

He told The Age they had "reluctantly" agreed to the payment and would have preferred their vendors to get their commissions back.

"We don't see why the forfeited monies should go to the (fund)," he said, adding that no consumer lost money from an "administrative oversight".

A Consumer Affairs source told The Age that such a payment and similar ones can only go to the fund.

Renzo Tomasino's brother and co-director, Luciano Tomasino, and Leo Mark Basilonne, the agent's representative, were the other signatories.

Biggin & Scott's Carnegie franchise agreed to an order last August after Consumer Affairs exposed a similar breach of the Real Estate Agents Act.