Consent Order

Alexander Duygu Moret, while licensed with Zolo Realty, did not act in the best interests of his clients or with reasonable care and skill.

In the course of attempting to obtain a release of a deposit for his clients, Mr. Moret used incorrect forms and provided incorrect details. He also signed the release form as a witness to the buyer's signatures, which was inappropriate because the buyers (who were in another province) signed the document electronically.

Mr. Moret took instructions from his clients to use the deposit from the first contract for a second contract, despite advising the buyers to provide a second deposit.

Mr. Moret did not advise his buyers that the deposit for the second contract was late.

Mr. Moret sought a release of the deposit for the first contract from the brokerage trust account without a written agreement in place.

Mr. Moret did not advise the buyers to seek independent professional advice on matters outside of his expertise when:

• The buyers instructed him to use the deposit from the first contract as a deposit for the second contract.
• The deposit for the second contract was not deposited in the required time frame.

Mr. Moret did not immediately notify his managing broker that the deposit set out in the second contract was late.

Results

In its Decision and Order with Respect to Penalty, a discipline committee of the Council ordered the following:

1. Mr. Moret's licence is suspended for 21 days, from April 4, 2018 to April 24, 2018 inclusive.
2. Mr. Moret is prohibited from acting as an unlicensed assistant during his licence suspension period.
3. Mr. Moret must pay a discipline penalty of $2,500.00 to the Council.
4. At his own expense, Mr. Moret must successfully complete the Real Estate Trading Services Remedial Education Course.
5. Mr. Moret must pay enforcement expenses of $3,000.00 to the Council.