Xia Wang, while licensed as a representative with Interlink Realty, provided several consumers with rental property management services outside of her brokerage. Licensees may only provide real estate services on behalf of the brokerage to which they are licensed, and they must keep their managing broker informed of the real estate services they are providing. Ms. Wang’s actions contravened these requirements: section 7(3)(a) of the Real Estate Services Act, and section 3-2(2)(a) of the Rules.
Ms. Wang did not promptly provide her managing broker with copies of rental property management records for the properties she was managing, as required by section 3-2(1)(c) of the Rules.
Ms. Wang accepted a security deposit from a prospective tenant at a property, and she did not promptly deliver the deposit to her brokerage, contravening section 27(1)(a) of the Real Estate Services Act. Licensees must promptly deliver to their brokerage all money held or received from, for or on behalf of a principal in relation to real estate services.
Ms. Wang provided rental property management services for three properties that she owned, without complying with the exemption requirements in the Rules. Ms. Wang did not disclose to her managing broker that she was providing rental property management services for her own real estate. Her actions contravened section 9-1(2)(d) of the Rules.
A discipline committee of the Council has ordered the following:
- Ms. Wang is reprimanded, and must pay a discipline penalty of $2,000.00 to the Council.
- At her own expense, Ms. Wang must successfully complete the Property Management Remedial Education Course.
- Ms. Wang must pay enforcement expenses of $1,500.00 to the Council.
Full consent order is available as a PDF.