John William Wade – Hearing Panel Decision – Phase 2: Decision on Sanction and Costs
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 Administrative Penalties levied against Mr. Wade, who was appealing these penalties.
Outcome: In the Phase 1 Hearing, the Hearing Panel found that:
- Wade breached s.17(a) of the Real Estate Act by trading in real estate while unauthorized
- Wade breached obligations under s.41(e) of the Real Estate Act Rules by:
- Failing to disclose his unlicensed status when communicating with the buyer clients after the brokerage terminated Wade’s employment.
- Failing to ensure the buyer clients understood when Wade was registered with a different brokerage.
- Wade breached obligations under s.41(d) of the Real Estate Act Rules by:
- Failing to advise the buyer clients that Wade was no longer licensed to represent their interests.
- Asking the buyer clients to sign an Exclusive Buyers Representation Agreement with Re/Max Complete Realty without advising them that it was with a different brokerage and that they still had a similar agreement with an overlapping term with Re/Max Real Estate (Central)
In Phase 1, the Hearing Panel confirmed or varied the Administrative Penalty amounts being appealed as follows:
- Confirmation of fines in the amount of $5,000 for the breach of s.17(a) of the Real Estate Act.
- A variance in fines to $1,500 for the breach of s.41(d) of the Real Estate Act Rules.
- A variance in fines to $500 for the breach of s.41(e) of the Real Estate Act Rules.
- Costs in the amount of $2,500
On August 11, 2021 the Hearing Panel considered submissions on whether they should quash, vary, or confirm the administrative penalties ordered in the Phase 1 Hearing. In the Phase 2 Hearing, the Hearing Panel has now ordered:
- Confirmation of fines in the amount of $5,000 for breach of s.17(a) of the Real Estate Act.
- Confirmation of fines to the amount of $1,500 for breach of s.41(d) of the Real Estate Act Rules.
- Variation of fines in the amount of $1,500 for the breach of s.41(e) of the Real Estate Act Rules.
- Costs to the Real Estate Council of Alberta in the amount of $2,500.