Consent Order

Published on 22 March, 2017

Women reading notebook with computer
Licensee
Menelaos (Mike) Petropoulos-Varelis
Current brokerage
Keller Williams Elite Realty (Victoria Branch Office)
Brokerage at time of sanctioned activity
RE/MAX Camosun
Consent Order date
February 22, 2017

Summary

Menelaos Arthur Petropoulos-Varelis, also known as Mike Hallmark, was a member of the Island House team while he was licensed with RE/MAX Camosun.

A member of the Island House team was acting as a limited dual agent in a transaction. Mr. Petropoulos-Varelis acted as a designated agent for the seller in the same transaction. Because he was a member of the Island House team, Mr. Petropoulos-Varelis also implicitly acted as a limited dual agent in that transaction.

Mr. Petropoulos-Varelis failed to disclose a conflict of interest to all parties when he acted as a limited dual agent for the seller and the buyer, and as a designated agent for the seller.

Brokerages and licensees have a duty to take reasonable steps to avoid conflicts of interest, and to promptly and fully disclose conflicts of interest to clients. By failing to disclose the conflicts of interests, Mr. Petropoulos-Varelis contravened sections 3-3(i) and 3-3(j) of the Rules.

Results

A discipline committee of the Council has ordered the following:

  1. Mr. Petropoulos-Varelis is reprimanded, and must pay a discipline penalty of $3,000.00 to the Council.
  2. Mr. Petropoulos-Varelis must pay enforcement expenses of $1,500.00 to the Council.
  3. At his own expense, Mr. Petropoulos-Varelis must successfully complete the Real Estate Trading Services Remedial Education Course.

As Mr. Petropoulos-Varelis has a personal real estate corporation, the licence of Mike Hallmark Personal Real Estate Corporation is also reprimanded, and it is equally responsible for the payment of the discipline penalty and enforcement expenses.