Consent Order

Breach of Sections 15, 17, 31(1)(c) and 59 of the Real Estate Act and Sections 9.12, 9.16(b) and 12.01 of Regulation 75/61 under the Act/Negligence/Misconduct.

Delta Summit Realty Inc., Surrey, breached Section 15 of the Real Estate Act and Section 12.01 of Regulation 75/61 under the Act in that it

1. failed to keep such proper and up to date books, records and accounts as required;
2. breached Sections 17 and 59 of the Act in that it improperly withdrew trust funds in the amount of $5,000 from the trust account of the agent; and
3. breached Section 9.16 of Regulation 75/61 under the Act in that it did not have a nominee in active charge of the business of the agent.

Peter David Martin, nominee, Delta Summit Realty Inc., Surrey, was negligent within the meaning of Section 9.12 of Regulation 75/61 under the Real Estate Act in that he

1. failed to ensure the agent kept such proper and up to date books, records and accounts as are required by Section 15 of the Act and Section 12.01 of Regulation 75/61;
2. failed to ensure that the agent properly and accurately accounted for monies received and expenses incurred on behalf of the owners of a property;
3. failed to ensure that monthly statements as to monies received and disbursed were provided to the above mentioned owners;
4. failed to ensure that the repairs were done to the property in a timely manner.

Peter David Martin, as nominee for the agent, misconducted himself within the meaning of Section 31(1)(c) under the Real Estate Act in that he

1. permitted the agent to withdraw trust funds in the amount of $5,000 from the trust account of the agent contrary to Sections 17 and 59 of the Real Estate Act;
2. failed to be in active charge of the business of the agent as required by Section 9.16 of Regulation 75/61 under the Act;
3. failed to adequately perform his property management duties with respect to four rental units;
4. failed to ensure that the property management files of the owners of these units were transferred to a new property manager upon their request, in a timely manner.

Results

Delta Summit Realty Inc. was reprimanded.

Peter David Martin 's nominee 's licence was suspended for three years from July 1, 2004 to June 30, 2007 but he would be eligible for licensing as a salesperson or an agent 9.15 after January 1, 2005. The Hearing Committee further ordered that quarterly reports as to Mr. Martin 's progress be submitted by a nominee of the agent to the Real Estate Council over a one year period. In the event Mr. Martin wishes to change agents during the first year of his relicensing, his proposed new agent and nominee must, as a precondition to his licence transfer, acknowledge receipt of the hearing decision and provide an acknowledgement in writing that they are willing to agree to the terms of supervision, monitoring and reporting as noted above.

The Hearing Committee further ordered that Peter Martin successfully complete Chapter 2 (Mandatory Requirements of the Real Estate Act of British Columbia) of the Real Estate Agent 's Pre-Licensing Course as a condition of his relicensing.

Peter David Martin and the agent were also ordered to pay, jointly and severally, costs of $3,233.80.

P:June 22, 2004 R:no