Real Estate Act Rules s.41 A real estate licensee must provide competent service. Jane was most recently registered as a mortgage associate with MA Mortgage Architects Inc. O/A Mortgage Architects. On January 31, 2022, the Chair of the Mortgage Broker Industry Council of the Real Estate Council of Alberta (RECA) suspended the mortgage associate license…
Real Estate Act Rules s.41(b) A real estate licensee must provide competent service. Mortgage Associate registered at the time of conduct with The Mortgage Alliance Company of Canada Inc. o/a Mortgage Alliance. Currently registered with 1170245 Alberta Inc. o/a Dominion Lending Centres Global Between August 2016 and July 2017, John was approached by three separate…
Real Estate Act s.17(a) & (b) s.17(a). No person shall deal as a real estate broker unless that person holds theappropriate authorization.s.17(b). No person shall deal as a mortgage broker unless that person holds theappropriate authorization. Not licensed • Instance 1 – $25,000• Instance 2 – $25,000• Instance 3 – $25,000• Instance 4 – $25,000•…
Real Estate Act Rules s.41(b) Real estate licensees must provide competent service. Real estate associate registered with BGB Realty Inc. o/a Re/Max Realty Professionals. On May 7, 2021, John brought their buyer clients to view a property. The sellers returned home to find their back door and the lockbox open. John had trouble securing the…
Real Estate Act Rules s.41(b) Real estate licensees must provide competent service. 1. John Doe Real estate associate registered with BGB Realty Inc. o/a Re/Max Realty Professionals. On May 7, 2021, John brought their buyer clients to view a property. The sellers returned home to find their back door and the lockbox open. John had…
Real Estate Act Rules s.91(4) A real estate brokerage must file their brokerage’s accounting within threemonths of the end of their fiscal year. Real estate broker registered with Best Step Real Estate Services Ltd. Best Step Real Estate Services Ltd.’s fiscal year end was on March 31, 2021. RECA sent numerous email reminders to John…
Real estate associate registered at the time of conduct with 4th Street Holdings Ltd. o/a Re/Max Real Estate (Central). Currently registered with Irealty Calgary Inc. o/a Re/Max IRealty Innovations. On August 11, 2021, a Hearing Panel concluded a Phase 2 hearing and made a decision on sanctions and costs after a Phase 1 hearing confirmed…
Real estate trust account shortages, Trust rule violations, Missing net-rent payments, Misleading representations, Failure to provide competent service, Practicing without proper authorization
• No person shall (b) trade in real estate as a real estate broker unless that person holds the appropriate licence for that purpose issued by the Real Estate Council of Alberta. • Industry members must: (d) fulfill their fiduciary obligations to their clients • Industry members must: (e) ensure the role of the industry…
Real estate associate registered with Northern Lights Realty Ltd. o/a Royal Lepage Northern Lights Realty• In January 2020, John contacted a buyer client to arrange to show them a commercial property• John drove the buyer and their assistant to a commercial property• John contacted an agent via telephone in the property parking lot, which they…
Mortgage broker registered at the time with 1318749 Alberta Ltd. o/a Dominion Lending Centres House, now called 1318749 Alberta Ltd. o/a Harman deep Arora Group Mortgage Alliance.• From July 1, 2019 to June 22, 2020, John’s mortgage brokerage failed to have insurance in place• John was the broker at the time• During the period of…
Real estate associate registered with Sterling Realty (Alberta) Ltd. o/a Sterling Real Estate• John was representing buyers interested in viewing a property • John’s brokerage adopted a brokerage policy that individuals present for showings must wear a mask• On March 29, 2021, John had permission to bring their buyer clients to view a property• The…
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