Realtors facing lifetime withdrawal from Alberta Housing Market
On April 13, 2022, the Residential Property Manager Industry Council of the Real Estate Council of Alberta (RECA) approved an application by John Doe under section 54 of the Real Estate Act to permanently withdraw their license from Alberta Housing market, effective immediately.
At the time of their application, John was the subject of an investigation under the Real Estate Act Rules. The issues under investigation regarding John were with respect to:
- failure to file the brokerage Fiscal Year End reports by the deadline
- provided false and misleading information to an investigator relevant to an investigation
- failure to provide documents used to review the brokerage trust accounts as requested by a Trust Assurance Practice Review
- failure to respond to an offer for purchase from another licensee
- provided misleading information to a property owner
- failure to provide the property owner rental disbursements and security deposit when requested
- misappropriation of trust funds
- multiple accounting errors concerning trust funds
- failure to adequately manage property
- providing false statements regarding property
- failure to enter into a written service agreement with the property owner
- failure to pay contractor invoices even though money was paid into trust account from an insurance company
The review into these matters is complete. No finding of conduct deserving of sanction or a referral to a hearing has been made by RECA’s Registrar on any of the issues under investigation.
Under the Real Estate Act, the approved withdrawal application results in John’s lifetime prohibition as a licensee from Alberta Housing Market, effective immediately. It also results in the discontinuance of the aforementioned conduct proceedings.
For more information, please see the approval letter issued by the Chair of Residential Property Manager Industry Council.