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BROKERAGE: OMAX Realty Ltd. dba Coldwell Banker Universe Realty
CURRENT BROKERAGE: Same as above; Managing Broker: Jagmohan Singh Bhandari, Surrey
BROKERAGE AT TIME OF SANCTIONED ACTIVITY: Same as above
CONSENT ORDER DATE: April 4, 2019


 

SUMMARY

A discipline committee of the Real Estate Council of British Columbia (the “Council”) accepted the Consent Order Proposal submitted by OMAX Realty Ltd. and found that OMAX Realty Ltd. committed professional misconduct when it: 

    1. without a proper recording of the transaction, permitted the transfer of client trust funds from the Brokerage’s trust account to its general account without the specific client authorization; and
    2. allowed the client’s trust account to be charged back in the amount of $514.40 for work performed on behalf of and paid for by an unlicensed third party unrelated to the Brokerage.
  1. permitted the transfer of $700.00 and $850.00 respectively from the Brokerage’s security deposit trust account into the Brokerage’s trust account without the knowledge or authorization of the client.

RESULTS

A discipline committee of the Council has ordered, and OMAX Realty Ltd. has agreed to, the following penalties:

  1. a reprimand;
  2. a discipline penalty of $3,500; and
  3. enforcement expenses of $1,500.

CONTRAVENTIONS

Real Estate Services Act


CONSENT ORDER: Full consent order available as a PDF and through the Canadian Legal Information Institute
POSTED ON: May 1, 2019
LENGTH OF PUBLICATION ON WEBSITE: 10 years