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Keiko Norisue, managing broker, New Century Realty Ltd., Vancouver 
File: 13-075
Consent Order: November 25, 2015

 


 

Summary
Ms. Keiko Norisue, as managing broker, failed to ensure that the business of her brokerage was carried out competently and in accordance with the Real Estate Services Act, regulations, rules and bylaws. This contravened section 3-1(1)(b) of the Council Rules.

Ms. Norisue failed to act in the best interests of her client, KH: she did not add her client’s name to a Contract of Purchase and Sale as a buyer and did not have the client sign the Contract of Purchase and Sale or its Addendum indicating that the client was a party to the transaction. This contravened section 3-3(a) of the Council Rules.

She failed to disclose to her client the nature of the representation that she would provide. This contravened section 5-10(a) of the Council Rules.

If she was not acting on behalf of KH, Ms. Norisue failed to advise KH to seek independent legal advice concerning a joint venture agreement with a client of Ms. Norisue’s prior to KH entering into that agreement.

She failed to promptly pay an Assignee’s deposit money into the brokerage trust account. This contravened section 27(1) of the Real Estate Services Act.

She failed to secure a separate written agreement stating that all parties to the Assignment of a Contract of Purchase and Sale agreed that the deposit from the Assignee would be paid to an account other than the brokerage trust account. This contravened section 27(4) of the Real Estate Services Act.

She added an Addendum to the Assignment of a Contract of Purchase and Sale stating that in the event of a default by the Assignee, the Assignee’s deposit would be forfeited to the seller, when she knew or should have known that the Assignee’s deposit had been paid to the Assignor. This was professional misconduct within the meaning of section 35(1)(d) of the Real Estate Services Act.

Result
A discipline committee of the Council has ordered the following:

  1. Keiko Norisue is reprimanded.
  2. She must pay a discipline penalty to the Council in the amount of $10,000.00.
  3. She must successfully complete the Real Estate Trading Services Remedial Education Course and the Broker’s Remedial Education Course.
  4. She must pay $1,250.00 in enforcement expenses to the Council.

 

Read the full Consent Order (PDF).

Posted January 14, 2016.