Consent Order

John Robert Berta, while licensed as a managing broker with Rent It Furnished Realty, did not have signing authority on each of the brokerage's trust accounts, and did not complete monthly account reconciliations within the required time frame. As a result, he failed to be in active charge of the brokerage's real estate business, and failed to ensure that the trust accounts and records were properly maintained, contravening section 6(2) of the Real Estate Services Act, and sections 3-1(1) and 3-1(3) of the Council Rules.

Rent It Furnished Realty failed to maintain proper books, accounts, and records, failed to prepare a monthly reconciliation of banking statements for each trust account, and failed to maintain and prepare a monthly trust liability and asset reconciliation for each pooled trust account. This contravened section 25 of the Real Estate Services Act, and sections 8-2 and 8-3 of the Council Rules.

Results

A discipline committee of the Council has ordered the following:

1. John Robert Berta and Rent It Furnished Realty are each reprimanded.
2. John Robert Berta must pay a discipline penalty of $1,500.00 to the Council.
3. Rent It Furnished Realty must pay a discipline penalty of $5,000.00 to the Council.
4. John Robert Berta and Rent It Furnished Realty are jointly and severally liable to pay enforcement expenses of $1,500.00 to the Council.