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Kai Ning (Karen) Zhao, Representative, Royal Pacific Riverside Realty Ltd., Karen Zhao Personal Real Estate Corporation, Richmond
File 15-731, 15-170
Consent Order: July 26, 2018
Read the full Consent Order (PDF)

 


 

Summary 15-731

Ms. Zhao, while licensed with New Coast Realty, committed professional misconduct in her capacity as the buyer’s agent in the purchase of a home in Richmond. She failed to provide the seller, or the seller’s agent, with a Disclosure of Interest in Trade form to disclose that the buyer was an associate of New Coast Realty, the brokerage with which she was licensed.

Contraventions
Real Estate Services Act

Rules

Summary 15-170

Ms. Zhao, while licensed with New Coast Realty, committed professional misconduct when she was acting as the seller’s agent for a new home built by an owner builder under the provisions of the Homeowner Protection Act (HPA). She failed to ensure that the seller provided the buyer with a B.C. Housing Owner Builder Disclosure Notice before an offer was made, as is required by the HPA.

Real Estate Services Act

Rules

Result

A discipline committee of the Council has ordered the following:

  1. Ms. Zhao is reprimanded and must pay a discipline penalty of $2,500 to the Council. 
  2. Ms. Zhao must pay enforcement expenses of $3,000 to the Council. 
  3. At her own expense, Ms. Zhao must successfully complete the Real Estate Trading Services Remedial Education Course and the Rule Changes: Agency and Disclosure Course. 
  4. Ms. Zhao must either:
    1. At her own expense, successfully complete the Homeowner Protection Act: Protect Your Sellers and Yourself course offered by the Real Estate Board of Greater Vancouver; or
    2. Review with her Managing Broker the applicable provisions of the Homeowner Protection Act and Regulation pertaining to the sale of new homes by licensed residential builders or by owner builders and submit to the Council a certification signed by her Managing Broker confirming that she has completed the review.
  5. Ms. Zhao must prepare and submit to the Chair of the Council a statement which demonstrates, to the satisfaction of the Chair, what she learned from this incident and how it will guide her practice in the future.

As Ms. Zhao has a personal real estate corporation, the licence of Karen Zhao Personal Real Estate Corporation is also reprimanded and equally responsible for paying the discipline penalty and enforcement expenses.

Posted October 17, 2018