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Consent Order
- Licensee
- Michael (Mike) Moor, Michael Moor
- Brokerage at Time of Sanctioned Activity
- Century 21 Coastal Realty Ltd.
- Current Brokerage
- Century 21 Coastal Realty Ltd., Surrey
- Consent Order Date
- 17 May 2017
Summary
Michael Moor acted in a conflict of interest. He assigned his company's interest in a property to another buyer and acted as a limited dual agent in the transaction, representing both his company (the assignor) and the prospective buyers (the assignees). He then accepted the deposit for the assignment directly through his company, putting the assignees' funds at risk.
Limited dual agency requires that licensees act with impartiality and full disclosure. Licensees have a duty to take reasonable steps to avoid any conflict of interest, and if a conflict of interest does exist, to promptly and fully disclose the conflict to the client. Mr. Moor failed in these duties, contravening sections 3-3(i) and 3-3(j) of the Rules.
Results
A discipline committee of the Council has ordered the following:
- Mr. Moor's licence is suspended for 60 days, from June 28, 2017 to August 27, 2017. During this time, Mr. Moor may not act as an unlicensed assistant.
- Mr. Moor must pay a discipline penalty of $5,000.00 to the Council.
- At his own expense, Mr. Moor must successfully complete the Real Estate Trading Services Remedial Education Course.
- Mr. Moor must pay enforcement expenses of $1,500.00 to the Council.
As Mr. Moor has a personal real estate corporation, the licence of Mike Moor Personal Real Estate Corporation is also suspended, and is equally responsible for the payment of the discipline penalty and enforcement expenses.