Consent Order

File 13-320 and 13-340

Consent Order: December 29, 2015Summary of File 13-320

Banti Bikram Shahi, currently unlicensed, while licensed with Sutton Group - West Coast Realty (Brdwy), prepared a Contract of Purchase and Sale providing for vacant possession of a property occupied by a tenant. Mr. Shahi prepared the contract with the knowledge that property was occupied by the tenant, and that the terms of the contract did not allow sufficient time for a notice of termination to be given to the tenant in accordance with the Residential Tenancy Act. Mr. Shahi failed to act with reasonable skill and care, contravening section 3-4 of the Council Rules, and he failed to act in the best interests of his client, contravening section 3-3(a) of the Council Rules.Mr. Shahi did not disclose that he was providing trading services to both the buyer and the seller of the property. By failing to disclosing the nature of the representation he was providing, he contravened section 5-10 of the Council Rules.Mr. Shahi failed to disclose in writing to his client that he was being paid remuneration by the buyer. This contravened section 5-11(2)(a) of the Council Rules.

Summary of File 13-340

Mr. Shahi was representing the seller of a property. He signed a Fee Agreement in which he agreed to return 50% of his commission to the seller upon completion of the sale. Mr. Shahi did not pay the seller as agreed. He failed to act honestly and with reasonable care and skill, contravening section 3-4 of the Council Rules.

Mr. Shahi did not provide his managing broker with a copy of the Fee Agreement. By failing to provide trading records, he contravened section 3-2(1) of the Council Rules.

Mr. Shahi did not inform his managing broker of his proposal to return 50% of his commission to the seller. He did not inform his managing broker that he had entered into a Fee Agreement. By failing to keep his managing broker informed of the activities performed on behalf of the brokerage, he contravened section 3-2(2)(a) of the Council Rules.

Mr. Shahi did not clearly set out the terms, method or timing of payment under the Fee Agreement. He failed to act with reasonable skill and care, contravening section 3-4 of the Council Rules, and he failed to act in the best interests of his client, contravening section 3-3(a) of the Council Rules.

Results

A discipline committee of the Council has ordered the following:

1. is reprimanded.
2. He must pay a discipline penalty of $5,000.00 to the Council.
3. He must pay enforcement expenses of $1,500.00 to the Council.