Mr. Walia committed professional misconduct while acting as an agent for the seller when he:
- failed to act in the best interests of his client when he prepared and had the seller sign an addendum to the contract of purchase and sale stating that the client would receive net proceeds from the sale and Mr. Walia would receive the remainder of the sale earnings as a bonus.
- acted in a potential conflict of interest and failed to advise his client to seek independent professional advice in relation to the remainder of the sale proceeds that Mr. Walia would receive as a bonus. On January 26, 2017, the seller wrote to the Council and indicating that he had “settled” the matter with Mr. Walia, and another person, and was withdrawing his complaint.
Contraventions Real Estate Services Act
A discipline committee of the Council has ordered the following:
- Mr. Walia is reprimanded and must pay a discipline penalty of $3,000 to the Council.
- Mr. Walia must pay enforcement expenses of $1,500 to the Council.
- At his own expense, Mr. Walia must successfully complete the Real Estate Trading Services Remedial Education Course.
Full consent order is available as a PDF.