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: KEVIN WILLIAM WENSLEY
File: 07-448
Date of Consent Order: July 9, 2009
Issue: Kevin William Wensley, representative, Cornerstone Properties Ltd. (Vic), Victoria, entered into a Consent Order with the Council in which he consented to an Order that while licensed as a representative with D.F.H. Real Estate Ltd. he committed professional misconduct within the meaning of section 35(1) of the Real Estate Services Act in that he: (a) within the meaning of section 35(1)(c) of the Act, engaged in deceptive dealing by concealing from the seller his participation in the purchase of the properties from the seller, in that he provided the buyer with fifty percent of the deposit and fifty percent of the funds necessary to purchase the properties, and he shared in the buyer ’s profit on the buyer ’s subsequent resale of the properties; (b) contrary to section 3-3(1)(f) of the Council Rules, failed to disclose to the seller the material information that he was asked by the buyer to contribute funds towards the purchase of and to acquire an interest in the properties; (c) contrary to section 3-3(1)(i) of the Council Rules, failed to take reasonable steps to avoid a conflict of interest by providing funds to the buyer as a contribution towards the purchase of the properties; (d) contrary to section 3-3(1)(j) of the Council Rules, failed to promptly and fully disclose to the seller his conflict of interest, being that he provided the buyer with fifty percent of the deposit and fifty percent of the funds necessary to purchase the properties; (e) contrary to section 5-8(2) of the Council Rules, failed to disclose to the seller a substantive change of information, in that after the contract was entered into between the seller and the buyer, he decided to acquire an interest in the properties; (f) contrary to sections 5-9(1) and 5-9(6) of the Council Rules, failed to disclose an interest in trade to the seller, in that he was acquiring an interest in the properties in a partnership (as defined by section 5-7(iii) of the Council Rules) with the buyer; and (g) contrary to section 5-10(b)(iii) of the Council Rules, failed to fully and properly disclose his business relationship with the buyer.
Result: Kevin William Wensley was suspended for sixty (60) days from September 2, 2009 to October 31, 2009 (inclusive) and was ordered to enrol in and attend the first available CPE courses “Real Estate E&O Insurance Legal Update 2009 ” and “What Brokerages and REALTORS Need to Know About Agency ”, and pay enforcement expenses to the Council in the amount of $1,000.00.
P: Aug 25, 2009 R: Aug 25, 2014