Letters of Reprimand issued by RECA from June 13 to July 18, 2022 Real Estate Act Rules s.42(a) A licensee must not make representations or carry on conduct that is reckless or intentional to mislead or deceive a person. Jane Doe: Condominium management broker registered with Catalyst Condo Management Ltd. On June 27, 2019, a…
Administrative Penalties by RECA from June 13 to July 18, 2022 Real Estate Act s.41(b) A real estate licensee must provide competent service. Jane Doe: Real estate associate broker registered with Walsh Real Estate 2010 LTD. o/a Re/Max Fort McMurray On November 15, 2021, Jane arranged an inspection for their buyer client Jane asked the…
RECA Hearing Panel Decisions from June 13 to July 18, 2022 Real Estate Associate registered at the time of conduct with Lampas Holdings Ltd. o/a Re/Max River City Issues: The Notice of Hearing submitted by the Registrar outlined four breaches of the Real Estate Act and the corresponding Rules. They are as follows: s. 54(3)…
Real Estate Council of Alberta issued Letters of Reprimand to Realtors Real Estate Act Rules s.53(c) A real estate licensee must provide to the broker in a timely manner all original documentation and copies of original documents related to a trade in real estate. Real estate associate broker registered at the time of conduct with…
Real Estate Council of Alberta imposed Administrative Penalties on Realtors Real Estate Act s.41(a) A real estate licensee must act honestly. Real estate associate registered at the time of conduct with 4 million.ca Inc. o/a Estateview. Currently Grand Realty & Management Ltd. o/a Grand Realty. On September 25, 2020, John submitted a License Renewal Application…
Activities that can cause Mortgage License Suspension in Alberta On February 16, 2022, a Hearing Panel for the Real Estate Council of Alberta (RECA) suspended the mortgage associate licence of John Doe for the period of three months, beginning April 1, 2022 The Hearing Panel determined that John breached the following: Real Estate Act Rules…
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…
Real Estate and Mortgage Licences Suspended Calgary, Alberta — on February 9 and 13, 2022, the Chair of the Residential Real Estate Broker Industry Council and the Chair of the Mortgage Broker Industry Council of the Real Estate Council of Alberta (RECA) suspended the real estate associate and mortgage associate licence of Jane Doe. Jane…
Unlicensed Activity Calgary, Alberta – The Real Estate Council of Alberta (RECA) is warning consumers against hiring John Doe who is not licensed to provide real estate and mortgage services in Calgary. John was formerly licensed with RECA, but his licenses were suspended by RECA on November 30, 2020, pending the result of an investigation into…
Brokerage Trust Accounts Frozen Calgary, Alberta – On February 25, 2022, the Real Estate Council of Alberta (RECA) froze the trust accounts of John Doe Real Estate Group Ltd. The John Doe Real Estate Group Ltd. is licensed in property management and real estate. At this time no deposits, withdrawals, or transfers can be made…
Real Estate Council of Alberta warns public of common fraud schemes as part of Fraud Prevention Month Calgary, Alberta – March marks the beginning of Fraud Prevention Month across Canada. The Real Estate Council of Alberta (RECA) is taking action to raise awareness about common fraud scenarios in the real estate sector. “During the pandemic we’ve…
Brokerage Licence Suspended Calgary, Alberta—on March 7, 2022, the Registrar of the Real Estate Council of Alberta (RECA) suspended the real estate brokerage licence of the John Doe Real Estate Group Ltd. o/a John Doe Realty. The brokerage is not licensed to trade in real estate or provide property management services. The brokerage failed to…
Real Estate Licence Cancelled, Barred from Becoming Licensed for Seven Years Calgary, Alberta — on February 24, 2022, a Hearing Panel for the Real Estate Council of Alberta (RECA) cancelled the licence of John Doe and barred John from becoming eligible for licensing for seven years. John is not licensed to trade in real estate in…
Lifetime Withdrawal from Industry Calgary, Alberta—On March 17, 2022, the Mortgage Broker Industry Council of the Real Estate Council of Alberta (RECA) approved an application by Jane Doe under section 54 of the Real Estate Act to permanently withdraw their licence, effective immediately. At the time of their application, Jane was the subject of an investigation under…
Be Aware of Unlicensed Practice RECA takes unlicensed activity seriously. A person cannot trade in real estate, deal in mortgages or act as a property or condominium manager without an licence issued by RECA (s. 17 of the Real Estate Act). Sometimes the line between licensed and unlicensed activity is misinterpreted, which unfortunately leads to Alberta…
Out-of-province Agents Need a Licence to Trade in Alberta RECA has heard about increased interest from out-of-province buyers, particularly from Ontario, in purchasing property in Alberta. Alberta has not seen the price increases like those in the GTA or Vancouver areas over the last decade, and Alberta’s market is being seen as an opportunity for…
Real Estate Holdbacks—Why They Often Don’t Make Sense for Lenders RECA has received an increase in inquiries regarding the use of holdbacks in real estate sales contracts. A holdback occurs in a real-estate transaction when the buyer identifies a condition (typically a renovation or repair) that they want to be completed at the seller’s expense. The holdback…
Members from all Alberta Boards/Associations have asked for a change to the definition of pending status so that listings reported pending in the MLS®System continue to be marketed to REALTOR.ca and third-party websites. To support this change, the provincial Rules Change Management Group (CMG), undertook a review of all pending status rules so to make recommendations for…
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…
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