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: ZHOU (FRANK) ZHU
File: 08-328 AND 08-489
Date of Consent Order: April 28, 2010
Issue: Zhou (Frank) Zhu and Frank Zhu Personal Real Estate Corporation, Multiple Realty Ltd. (Rhmd), Richmond, entered into a Consent Order with the Council in which he consented to an Order that, while licensed as Zhou (Frank) Zhu, representative, Multiple Realty Ltd. (Rhmd), Richmond, he committed professional misconduct within the meaning of section 35(1)(a) of the Real Estate Services Act: 1) File 08-328 (a) in that he: (i) contravened section 7(3)(a) of the Real Estate Services Act by providing real estate services separate from his brokerage; (ii) contravened section 7(3)(b) of the Real Estate Services Act by accepting remuneration related to real estate services from someone other than his brokerage; (iii) contravened section 5-11 of the Council Rules by failing to disclose to his client, the buyer, that he was receiving remuneration from the seller, and the amount of the remuneration; (iv) contravened section 5-10 of the Council Rules by failing to clarify the nature of his representation with the buyer when he drafted the Contract of Purchase and Sale dated May 8, 2008 and did not identify his brokerage or any agency representation in the said contract; (v) contravened section 5-9 of the Council Rules in that he failed to provide the seller with a disclosure of interest in trade prior to presenting an offer to purchase the said property; and (vi) contravened section 27(1)(b) of the Real Estate Services Act by failing to deliver remuneration received for real estate services to his brokerage; and 2) File 08-498 (b) he contravened section 35(1)(c) of the Real Estate Services Act [deceptive dealing]: (i) by changing the amount of commission to be paid by the seller on the said listing contract from 1.1625% on the balance over and above the first $100,000 to 2.5% on the said balance without the initials of the said seller to this change before delivering the said contracts to the brokerage; and (ii) by omitting to inform his brokerage that he held 2% of the shares of the said seller.
Result: Zhou (Frank) Zhu was suspended for forty-five (45) days from June 23, 2010 to August 6, 2010 (inclusive) and was ordered to pay a discipline penalty to the Council in the amount of $1,000.00, and to successfully complete the Trading Services Remedial Education Course, and pay enforcement expenses to the Council in the amount of $1,000.00.
P: June 2, 2010 R: June 2, 2015