A discipline committee of the Real Estate Council of British Columbia (the “Council”) accepted the Consent Order Proposal submitted by Blaine Angus Nicholson (“Mr. Nicholson”), Blaine Nicholson Personal Real Estate Corporation (“Nicholson Personal Real Estate Corporation”) and Re/Max Dawson Creek Realty (the “Brokerage”), and found that Mr. Nicholson, Nicholson Personal Real Estate Corporation and the Brokerage committed professional misconduct when:
- Mr. Nicholson and Nicholson Personal Real Estate Corporation failed to adequately review month end accounting reports of the Brokerage between the dates of September 17, 2018 to March 25, 2019 and failed to identify a shortage of $45,885 in the Brokerage’s pooled trade trust account which was related to accounting errors made in trade file #018288;
- the Brokerage was in a shortage position of $45,885 in the pooled Brokerage trade trust account from September 17, 2018 to March 26, 2020;
- the Brokerage failed to identify and take immediate steps to eliminate the negative balance; and
- the Brokerage failed to notify the Council of the negative balance within 10 days after the day on which the negative balance arose.
A discipline committee of the Council has ordered, and Mr. Nicholson, Nicholson Personal Real Estate Corporation and the Brokerage have agreed to, the following penalties:
- jointly and severally liable to pay a discipline penalty of $7,500;
- jointly and severally liable to pay enforcement expenses of $1,500; and
- the Brokerage shall undergo supervision of its trust accounts for six (6) months from the date of this Order. The Brokerage shall send monthly trust reconciliations to the Council’s Audit Department in accordance with section 8-2(c) of the Rules to confirm the Brokerage’s compliance with Real Estate Services Act (“RESA”) and the Rules made under the RESA.
Real Estate Services Act
- 35(1)(a) [Misconduct by licensee] Read more
Real Estate Rules
Full consent order is available as a PDF.