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REAL ESTATE COUNCIL OF BRITISH COLUMBIA DISCIPLINE DECISION

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

 

Respondents: Louis Man Kam Kwong and Sunrich Realty Ltd. dba Amex Sunrich Realty
File: 11-112, 12-284 and 13-408
Date of Consent Order: June 11, 2015

Issue: Louis Man Kam Kwong, managing broker, Sunrich Realty Ltd. dba Amex Sunrich Realty, Richmond, 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:

File 11-112

(a) contravened section 6(2)(c) of the Real Estate Services Act and sections 3-1(1)(b) and 3-1(3)(a) of the Council Rules in that he permitted the release of trust monies in the amount of $30,262.27 from the trust account to the general account of the brokerage without the written agreement of the parties as required by section 30(2)(b) of the Real Estate Services Act;

File 12-284

(b) contravened section 6(2)(c) of the Real Estate Services Act and sections 3-1(1)(a) and (b) and 3-1(3)(a) and (b) of the Council Rules in that he failed to ensure that the brokerage maintained proper and up to date books, accounts and other records as required by section 25 of the Real Estate Services Act;

(c) contravened sections 21(1)(a) and 35(1)(f) of the Real Estate Services Act by failing to comply with a Consent Order dated June 13, 2012 which suspended his licence for seven (7) days, from August 8, 2012 to August 14, 2012, and by failing to immediately cease to hold himself out as a licensee in that:

(i) on August 9, 2012, he was listed in the brokerage’s website at www.amexsunrich.com;

(ii) on August 9, 2012, he was referenced to a property listing (MLS® F1206813) at www.propertyfinders.ca; and

(iii) on August 12, 2012, he was referenced as “The Witty Realtor” at www.twitter.com.

File 13-408

(d) as managing broker for the said brokerage for the period from May 1, 2013 to July 31, 2013, as identified in the Office and Records Inspection Report dated October 21, 2013, contravened section 6(2)(b) and (c) of the Real Estate Services Act and sections 3-1(1)(a) and (b) and 3-1(3)(a) of the Council Rules:

(i) by failing to ensure that the brokerage kept proper books, accounts and other records in accordance with section 25 of the Real Estate Services Act; and

(ii) by failing to ensure that licensees who were providing rental property management services were remunerated from either the trust account or commission trust account of the brokerage rather than from the general operating account.

Issue: Sunrich Realty Ltd. dba Amex Sunrich Realty, brokerage, Richmond, entered into a Consent Order with the Council that it committed professional misconduct within the meaning of section 35(1)(a) of the Real Estate Services Act in that it:

File 11-112

(a) contravened section 30(2)(b) of the Real Estate Services Act in that it transferred the sum of $30,262.27 from the brokerage trust account to the brokerage general account without a written agreement of the parties to the said transaction;

File 12-284

(b) contravened section 25 of the Real Estate Services Act in that it failed to maintain proper books, accounts and other records as identified in the Office and Records Inspection Report by the Council dated January 3, 2013;

File 13-408

(c) contravened section 25 of the Real Estate Services Act by failing to maintain proper books, accounts and other records as identified in the Office and Records Inspection Reports dated October 21, 2013 and June 16, 2014; and

(d) contravened section 31 of the Real Estate Services Act by paying remuneration to its licensees providing rental property management services directly from the general account from the brokerage instead of from its commission trust account.

Result: Louis Man Kam Kwong was subject to an Order of a discipline committee that: (a) his managing broker’s licence be cancelled for a period of three years, which cancellation is in effect ninety (90) days from the date of the Order, that being from September 10, 2015 to September 18, 2018 inclusive; (b) he is immediately eligible to be licensed as an associate broker; and (c) as a condition of relicensing as a managing broker, he must enroll in and successfully complete the Broker`s Licensing Course and write and pass the Broker`s Licensing Examination.

Result: Sunrich Realty Ltd. dba Amex Sunrich Realty was subject to an Order of a discipline committee that it: (a) be reprimanded; (b) pay a discipline penalty to the Council in the amount of $2,500.00; (c) pay the cost of the office and records re-inspection conducted on May 28, 29 and June 6, 2014 in the amount of $1,425.00; and (d) should the Council conduct an office and records inspection of Amex Sunrich Realty during the ninety (90) day period from June 10, 2015 to September 9, 2015, then Amex Sunrich pay the cost of the inspection to the Council at the rate of $100.00 per hour.

Result: Louis Man Kam Kwong and Sunrich Realty Ltd. dba Amex Sunrich Realty were subject to an Order of a discipline committee that they (a) during the ninety (90) days from June 10, 2015 to September 9, 2015, provide the Council with monthly trust account reconciliations for any of the brokerage’s trust accounts, together with copies of the bank statement and client liability listing with each monthly reconciliation at the request of the Council; (b) be jointly and severally liable to pay enforcement expenses to the Council in the amount of $1,500.00.

P: July 17, 2015 R: no