Consent Order

Published on
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Licensee
Omar Sharif, Omar Mohammad Sharif
Brokerage at Time of Sanctioned Activity
Pacific Place - Arc Realty Ltd.
Current Brokerage
Pacific Place - ARC Realty Ltd., Vancouver
Consent Order Date
30 June 2009

Summary

REAL ESTATE COUNCIL OF BRITISH COLUMBIA

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

Issue: Omar Mohammad Sharif, currently unlicensed, while licensed as a representative with Pacific Place - Arc Realty Ltd., Vancouver, entered into a Consent Order with the Council in which he consented to an Order that he committed professional misconduct within the meaning of section 35(1)(c) [deceptive dealing] of the Real Estate Services Act in that he, as the selling agent and second mortgagee in the purchase and sale of property on xxx4 Austrey Avenue, Vancouver, BC ( "Austrey Avenue ") from K ( "Seller ") to R ( "Buyer ") by way of a Contract of Purchase and Sale dated June 1, 2006 ( "Contract "):

  1. failed to act in the best interests of his client, the Buyer, and failed to act with reasonable care and skill in accordance with his duties as a selling agent, and without restricting the generality of the foregoing, failed to advise the Buyer as to the property 's recent transactional history, contrary to sections 3-3(1)(a) and (f), and 3-4 of the Council Rules;
  2. failed to take reasonable steps to avoid a conflict of interest and offered agency representation to the Buyer in her purchase of the Austrey Avenue Property while having earlier acted for the Seller in her purchase of the Austrey Avenue Property, while holding the Seller 's second mortgage and while agreeing to help finance the Buyer 's purchase, when it was inappropriate to do so, contrary to section 3-3(1)(i) of the Council Rules;
  3. failed to promptly disclose to the Buyer, in writing, remuneration as a result of providing real estate services, in accordance with section 5-11 of the Council Rules, and failed to promptly provide the original or a copy of this disclosure to his managing broker, in accordance with section 3-2(1)(a) of the Council Rules; and,
  4. failed to keep his managing broker informed of the real estate services being provided, and the activities being performed by him on behalf of the brokerage, contrary to section 3-2(2)(a) of the Council Rules.

Further, he committed professional misconduct within the meaning of section 35(1)(c) of the Real Estate Services Act in that he:

  1. in a number of trades occurring before January 1, 2006, failed to promptly provide to his managing broker, after acceptance, copies of the trading records referred to under section 8-5(1) of the Council Rules, in accordance with section 3-2(a) of the Council Rules and failed to keep his managing broker informed of real estate services being provided by him on behalf of the brokerage, in accordance with section 3-2(b) of the Council Rules;
  2. in a number of trades occurring on or after January 1, 2006, failed to promptly provide to his managing broker, after acceptance, copies of the trading records referred to under section 8-5(1) and 8-5(2) of the Council Rules, in accordance with section 3-2(1)(b) of the Council Rules, and failed to keep his managing broker informed of real estate services being provided by him on behalf of the brokerage, in accordance with section 3-2(2)(a) of the Council Rules;
  3. in a number of trades occurring before January 1, 2006, failed to promptly disclose to buyers and to the brokerage remuneration as a result of providing real estate services, in accordance with section 5-11 of the Council Rules;
  4. in a number of trades occurring on or after January 1, 2006, failed to promptly disclose to buyers in writing remuneration as a result of providing real estate services, in accordance with section 5-11 of the Council Rules;
  5. failed to promptly pay or deliver to his brokerage all money held or received from, for or on behalf of principals in relation to trades, in accordance with section 27(1) of the Real Estate Services Act;
  6. in a number of trades, failed to avoid a conflict of interest and offered agency representation to the buyer when it was inappropriate to do so as he was, variously, the seller and a principal in his own right; holding the sellers ' second mortgage; and, acting as the buyer 's second mortgagee;
  7. in a number of trades occurring on or after January 1, 2006, in which Mr. Sharif acted as seller and purported to act as the buyers ' representative, failed to promptly disclose to the buyers in writing his interest in trade as seller, in accordance with section 5-9 of the Council Rules, and failed to promptly provide the original or a copy of this disclosure to his managing broker, in accordance with section 3-2(1)(a) of the Council Rules; and (viii) failed to ensure a seller, AG, a licensee under the Real Estate Services Act, promptly disclosed to the buyer in writing her interest in trade as a seller of property on East 41st Avenue, Vancouver (06-07-96), in accordance with section 5-9 of the Council Rules;

Results

Omar Mohammad Sharif was suspended for three (3) years from July 3, 2008 to July 2, 2011 (inclusive) after which he will be eligible to be licensed as a representative provided that he has satisfied the terms set out below. As conditions of licensing or continued licensing, as the case may be, Mr. Sharif must:

  1. complete Unit 1, "Agency Disclosure, Privacy and The Realtor Code " and Unit 10, "Legal and Ethical Issues " of the BCREA Residential Trading Services Applied Practice Course;
  2. pay a disciplinary penalty to the Council in the sum of $5,000.00;
  3. pay the enforcement expenses of the Council in the sum of $4,500.00;
  4. satisfy the Council that he has rehabilitated himself, in that he is of good reputation, suitable to be licensed at the category for which he is applying, and fit to practice, as set out in section 10 of the Real Estate Services Act;
  5. agree he will not employ, contract with, pay referral fees or other remuneration to, or otherwise engage unlicensed assistants, other than persons whose activities are solely of an administrative nature at the brokerage and whose entire remuneration is based on an hourly rate, which will be fully disclosed to his managing broker;
  6. agree that he will not directly or indirectly finance any trades in real estate other than trades in real estate in which he is the principal, in which case he will not provide services to any party; and,
  7. provide his proposed managing broker(s) with a copy of this decision.

As conditions of Mr. Sharif 's licensing, Mr. Sharif 's proposed managing broker(s) must agree as a condition of Mr. Sharif 's licensing or continued licensing, as the case may be:

  1. to acknowledge having read this Agreed Statement of Facts, Proposed Acceptance of Findings and Waiver and related Consent Order;
  2. for a two year period following Mr. Sharif 's licensing, to provide quarter-annual written reports to the Real Estate Council commencing on the first day of the quarter following the first three full months after Mr. Sharif becomes licensed, and on the first day of each and every quarter thereafter, indicating that the managing broker(s) has reviewed Mr. Sharif 's contracts and other work in general; and
  3. to promptly report to the Council anything of an adverse nature with respect to Mr. Sharif 's activities during that two year period.