A discipline committee of the Real Estate Council of British Columbia (the “Council”) accepted the Consent Order Proposal submitted by Lawrence Samuel John Engelsman (“Mr. Engelsman”), and found that Mr. Engelsman committed professional misconduct when:
- in his capacity as the listing agent for the seller, S.M., in the sale of a property located on Humphrey Road, Agassiz (“the Property”) in 2014, he:
entered into the Loan agreement with S.M. so that she could complete construction on the Property, but failed to:
document the terms of the Loan;
to discuss with S.M. the potential for a conflict of interest, in that Mr. Engelsman would be deriving a benefit by way of interest payable on the Loan and commission payable on the sale of the Property; and
- advise S.M. to seek independent legal advice with respect to the Loan, the promissory note and second mortgage that was to be registered against the Property; and
- failed to provide a copy of the executed Multiple Listing Contract directly to S.M.
A discipline committee of the Council has ordered, and Mr. Engelsman has agreed to, the following penalties:
- a reprimand;
- a discipline penalty of $5,000;
- enforcement expenses of $1,500; and
- successful completion of the Real Estate Trading Services Remedial Education Course.
Real Estate Services Act
- 35(1)(a) [Misconduct by licensee] Read more
Real Estate Rules
Full consent order is available as a PDF.