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Consent Order
- Licensee
- Xiao Yi (Mike) Wang, Xiao Yi (Mike) Wang
- Brokerage at Time of Sanctioned Activity
- Sutton Group Seafair Realty
- Current Brokerage
- Sutton Group Seafair Realty, Richmond
- Consent Order Date
- 21 March 2016
Summary
Xiao Yi (Mike) Wang, as the limited dual agent in the sale and purchase of a property, failed to avoid a conflict of interest and preferred the interests of the buyers over those of the sellers.
Mr. Wang permitted an email to be sent from his own email address from the buyers to the sellers, threatening a possible legal action against the sellers if they did not grant an unconditional extension of 11 days to the buyers in order to arrange financing.
Mr. Wang approached the sellers directly, pressuring them to accept the buyers' request for an unconditional extension, despite receiving instruction from the sellers to only communicate with their lawyer.
Mr. Wang's actions contravened sections 3-3(a), 3-3(b) and 3-3(i) of the Council Rules.
Results
A discipline committee of the Council has ordered the following:
- Xiao Yi (Mike) Wang is suspended for fourteen (14) days from April 27, 2016 to May 10, 2016 inclusive.
- At his own expense, he must successfully complete the Real Estate Trading Services Remedial Education Course.
- He must pay enforcement expenses of $1,500.00 to the Council.