Mr Sewell was last week cleared by the REIV after he was accused of being found in a compromising position with a sales assistant at a vendor's home.

The REIV said the claims were "unfounded" after taking written statements from vendor John Skewes, his daughter Linda, Mr Sewell and the unnamed sales assistant.

REIV chief executive Enzo Raimondo said conflicting statements from the vendor and his daughter, plus evidence from the sales assistant showing she was overseas at the time, did not warrant a full hearing.

"This incident was alleged to have occurred on January 5 but we received a travel itinerary from the woman named clearly showing she was in Hong Kong and Perth between late December and mid-January," Mr Raimondo said.

"The vendor also claimed that the agent (Mr Sewell) was found in the bedroom while his daughter said she saw them in the passageway.

"On the basis of the written statements, the panel felt there was no case for a full hearing when verbal evidence would have been heard.

"In total, there were about seven or eight discrepancies in the vendor's and his daughter's statements."

Mr Raimondo said Minister for Consumer Affairs Marsha Thomson had shown interest in the case but denied claims of an industry cover-up.

"I understand the REIV has received a couple of calls since the verdict claiming that the verdict was a cover-up," Mr Raimondo said.

"If anyone can provide us with firm evidence that the sales assistant was in the area at the time, we'd be happy to look at it again."

The vendor, Mr Skewes, has been unable to be contacted since the REIV's verdict.