Consent Order

A discipline committee of the Real Estate Council of British Columbia (the “Council”) accepted the Consent Order Proposal submitted by Tim Seo (“Mr. Seo”), on his own behalf and on behalf of Tim Seo Personal Real Estate Corporation (“TS Personal Real Estate Corporation”), and found that Mr. Seo and TS Personal Real Estate Corporation committed professional misconduct when they:

File #15-537

1. failed to properly explain, document and disclose the nature of the relationship with each of Seller A and Mr. C;
2. entered into a commission agreement with Seller A which was non-compliant with the Rules;
3. prepared the First Contract in a manner which was contrary to the Rules;
4. altered the material terms of the First Contract for the benefit of Seller A and misled Mr. C as to Seller A’s reasons for the Second Contract;
5. failed to advise Mr. C to seek independent legal advice;
6. failed to promptly and/or properly disclose remuneration payable from the sale of the property to Mr. C;
7. failed to keep the managing broker informed;

File #16-038

1. entered into an agency relationship with Mr. P without fully explaining the nature of the representation and documenting the relationship;
2. entered into a commission agreement with Seller B which was non-compliant with the Rules;
3. signed Mr. P’s name on a document without his knowledge or consent;
4. failed to promptly and/or properly disclose remuneration payable form the sale of the property to Mr. P; and
5. failed to keep the managing broker informed.

Results

A discipline committee of the Council has ordered, and Mr. Seo and TS Personal Real Estate Corporation have agreed to, the following penalties:

1. a suspension of six (6) months (from August 12, 2020 to February 10, 2021, inclusive);
2. Mr. Seo and Tim Seo Personal Real Estate Corporation be prohibited from acting as an unlicensed assistant during their licence suspension period;
3. successful completion of the Ethics in Business Practice Course from the Real Estate Institute of Canada in the time period as directed by the Council;
4. successful completion of the Real Estate Trading Services Remedial Education Course as provided by the Real Estate Division, Sauder School of Business at the University of British Columbia within the time period directed by the Council; and
5. jointly and severally liable to pay enforcement expenses in the amount of $1,500.