Consent Order

Louis Man Kam Kwong failed in his responsibilities while licensed as managing broker of Amex Sunrich Realty.

Mr. Kwong did not ensure that the brokerage retained complete rental property management records (required by section 8-6 of the Rules), and did not provide a client of the brokerage with records when requested.

Mr. Kwong improperly delegated his rental property management responsibilities to a licensee who was only licensed to provide trading services instead of another managing broker at Amex Sunrich Realty who was licensed to provide trading services and rental property management services.

Mr. Kwong's actions contravened section 6(2)(a) of the Real Estate Services Act, and section 3-1(1) of the Rules.

Amex Sunrich Realty did not retain complete rental property management records, contrary to sections 8-6(1), 8-6(2) and 8-10 of the Rules.

Amex Sunrich Realty did not provide a client of the brokerage with their complete rental property management records when requested, which contravened section 8-6(3) and 8-6(4) of the Rules.

Results

A discipline committee of the Council has ordered the following:

1. Mr. Kwong and Amex Sunrich Realty are each reprimanded, and must each pay a discipline penalty of $2,500.00 to the Council.
2. Mr. Kwong must not apply for licensing as a managing broker for a period of five years from the date of this consent order.
3. Mr. Kwong and Amex Sunrich Realty are equally responsible for paying enforcement expenses of $1,500.00 to the Council.