REAL ESTATE COUNCIL OF BRITISH COLUMBIA
In the matter of the Real Estate Services Act
S.B.C. 2004 ch. 42
AND in the matter of a Consent Order pursuant to Section 41 of the Real Estate Services Act
Respondent: TIMOTHY BRUCE PELIGREN
File: 268-06 and 07-412 and 08-254
Date of Consent Order: May 21, 2009
Issue: Timothy Bruce Peligren, representative, Central Island Realty Ltd. dba Coldwell Banker Vancouver Island Realty, Parksville, entered into a Consent Order with the Council in which he consented to an Order that he committed professional misconduct within the meaning of section 35(1)(a) of the Real Estate Services Act in that he, as a representative with the brokerage, in the marketing and sale of strata lots in a strata development called the Little Qualicum River Village ( “development ”), being a development of 528872 B.C. Ltd. ( “developer ”), a company for which Mr. Peligren at all relevant times was the sole director and officer: (a) in a number of transactions from 2005 to 2007, provided development buyers or their representatives with consolidated disclosure statements that were non-compliant with the requirements of Part Two of the former Real Estate Act or the current Real Estate Development and Marketing Act; (b) in a number of transactions from 2005 to 2006, failed to advise buyers to pay deposits to the brokerage, lawyer or notary public, rather than to the developer, in accordance with section 18(1) of the Real Estate Development and Marketing Act; (c) in one transaction in 2005, offered agency representation to the buyer when it was improper to do so and acted in a conflict of interest as a limited dual agent as he was the sole director, officer and shareholder of the seller; (d) in a number of transactions from 2006 to 2007, failed to make written disclosures of interest in trade to buyers, in accordance with sections 5-8 and 5-9 of the Council Rules, as an associate of the developer under section 5-7 of the Council Rules; and (e) failed to promptly provide to his managing broker general records as outlined in section 8-4 (as amended) of the Council Rules and trading records as outlined in section 8-5 (as amended) of the Council Rules, in accordance with section 3-2 (as amended) of the Council Rules.
Result: Timothy Bruce Peligren was suspended for thirty (30) days from July 15, 2009 to August 13, 2009 (inclusive) and was ordered pay a discipline penalty to the Council in the amount of $10,000, to enrol in and attend the first available CPE course “What Brokerages and REALTORS Need to Know About Agency ” course and pay enforcement expenses to the Council in the amount of $750.00.
P: Jun 22, 2009 R: June 22, 2013