What does the cryptic crossword clue "The estate agent's lying (7)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

The estate agent's lying (7)

Guardian Cryptic #26771 | 25 Across | 2016-01-04 flower

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Also seen in

Telegraph #28571 (2017-10-30)