Jasbir Singh Banwait, Lighhouse Realty, Abbotsford

Respondent:     JASBIR SINGH BANWAIT

File:  07-174

Date of Consent Order:   February 9, 2011                    

Issue: Jasbir Singh Banwait, representative, Lighthouse Realty Ltd., Abbotsford, 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, in relation to the Contract of Purchase and Sale dated March 6, 2006 between five sellers and a limited company: (a) failed to sufficiently clarify the change in the agency relationship upon the entering into the fee agreement after acting as a limited dual agent pursuant to the Limited Dual Agency Agreement, contrary to section 5-8(2) and 5-10(a)(i) and (iii) of the Council Rules; (b) failed to promptly disclose to the sellers that the first buyer was unable to fulfill the terms of the contract when it failed to provide the deposit as required, contrary to section 3-3(1)(f) of the Council Rules; (c) failed to ensure that the Disclosure of Interest in Trade was signed by all of the sellers, contrary to sections 5-2 and 5-9 of the Council Rules; (d) failed to keep his managing broker advised of the real estate services that he was providing, contrary to section 3-2(2)(a) of the Council Rules; (e) failed to ensure that the seller sought independent representation or legal advice when he had his clients sign a fee agreement which purported to change the agency relationship from a limited dual agency relationship to no agency, contrary to section 3-4 of the Council Rules; (f) failed to apply reasonable care and skill including, but not limited to, failure to add a clause to the contract making it subject to probate of the estate of one of the sellers, and failed to ensure that all of the sellers consented to an executed extension in the Contract of Purchase and Sale, contrary to section 3-4 of the Council Rules; (g) failed to ensure that, where the licensee held the funds and the deposit was to be paid directly to the sellers, there was executed written agreements separate from any agreement giving effect to the trade in real estate, contrary to section 27(4) of the Real Estate Services Act; and (h) conducted trading services outside of his brokerage in that he did not turn the assignment agreement into the brokerage, contrary to section 7(3)(a) of the Real Estate Services Act.   

Result: Jasbir Singh Banwait was suspended for forty-five (45) days from April 6, 2011 to May 20, 2011 (inclusive), and was ordered to successfully complete the Trading Services Remedial Education Course and pay enforcement expenses to the Council in the amount of $1,000.00.  

P: Mar 11, 2011 R:   Mar 11, 2016