File 13-258; 13-306; 15-732
Consent Order: October 19, 2018
Mr. Leung, while licensed as a managing broker with New Coast Realty, committed professional misconduct when he:
- permitted unlicensed individuals to provide real estate services on behalf of the brokerage and permitted an associate broker to provide rental property management outside of the brokerage;
- permitted unlicensed individuals to be paid by the brokerage for providing real estate services on behalf of the brokerage;
- in relation to a property located in Vancouver, Mr. Leung also failed to:
- maintain proper books and records;
- keep copies of all written disclosures and their related acknowledgments; and
- keep copies of the agency disclosures regarding representation; and
- allowed a deposit cheque with respect to the purchase of a property located in Richmond to be deposited into the brokerage’s general account and not the trust account, thereby incurring a negative balance in the brokerage’s trust account and records. He did not notify the Council about the negative balance or ensure that immediate steps were taken to eliminate the negative balance in the trust account until four months later.
A discipline committee of the Council has ordered the following:
- Mr. Leung license is suspended for forty five (45) days, from December 5, 2018 to January 18, 2019.
- Mr. Leung may not act as a managing broker, associate broker or as an unlicensed employee for any brokerage during the licence suspension period.
- Mr. Leung must pay a discipline penalty of $5,000 to the Council.
- Mr. Leung must pay enforcement expenses of $4,500 to the Council.
- At his own expense, Mr. Leung must successfully complete the Broker’s Remedial Education Course.
Real Estate Services Act
- 35(1)(a) [Misconduct by licensee] Read more - will open in a new tab
- 6(2) [Brokerage must have a managing broker] Read more - will open in a new tab
Real Estate Rules
- 3-1(1) [Managing broker responsibilities] Read more
- 3-1(2) [Managing broker responsibilities] Read more
- 3-1(3)(a) [Managing broker responsibilities] Read more
- 3-1(3)(b) [Managing broker responsibilities] Read more
- 6-1 [Payment to unlicensed persons prohibited] Read more
- 7-5 [Negative balances in trust accounts and trust records] Read more
- 8-4 [General records] Read more
- 5-10 [Disclosure of representation in trading services] Read more
Full consent order is available as a PDF.