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: GILBERT JOSEPH GUTFREUND & ROBERT ARTHUR LOTEN
File: 09-211
Date of Consent Order: November 16, 2011
Issue: Gilbert Joseph Gutfreund, representative, Advantage Property Management Ltd. dba Sutton Advantage Property Management, Victoria, entered into a Consent Order with the Council that he committed professional misconduct within the meaning of section 35(1)(a) of the Real Estate Services Act in that he, while licensed with various related brokerages, in the provision of strata management services to a strata corporation client, he failed to act in the best interest of the strata corporation and only within the scope of authority given by that strata corporation when he caused the strata corporation ’s special ley money allocated as a building improvement fund to be spent on shortfalls in operating fund revenue without the strata corporation ’s authorization.
Issue: Robert Arthur Loten, managing broker, Advantage Property Management Ltd. dba Sutton Advantage Property Management, Victoria, entered into a Consent Order with the Council that he committed professional misconduct within the meaning of section 35(1)(a) of the Real Estate Services Act in that he, while acting as a managing broker with various related brokerages, in the provision of strata management services to a strata corporation client, failed to ensure that Mr. Gutfreund acted in the best interest of the strata corporation and only within the scope of authority given by the strata corporation when Mr. Gutfreund caused the special levy money allocated as a building improvement fund to be spent on shortfalls in operating fund revenue without the strata corporation ’s authorization and failed to ensure that Mr. Gutfreund acted in accordance with the instructions of the strata corporation to open a separate trust account for special levy money being held by the related brokerage on behalf of the strata corporation, contrary to section 6(2) of the Real Estate Services Act.
Result: Gilbert Joseph Gutfreund was reprimanded and was ordered to successfully complete the Strata Management Remedial Education Course.
Result: Robert Arthur Loten was reprimanded.
Result: Gilbert Joseph Gutfreund and Robert Arthur Loten were ordered to be jointly and severally liable to pay enforcement expenses to the Council in the amount of $1,000.00.
P: Dec 21, 2011 R: Dec 21, 2012