A realtor has been suspended after it was found he had conducted more than a dozen sales referred by an unlicensed Chinese-language real estate website that offered Lower Mainland listings to foreign buyers.
The real estate licence of Xiao Ming (Alban) Wang, while licensed with Amex Sunrich Realty, Richmond, was suspended for a year, effective Wednesday, by the Real Estate Council of B.C.
He was also ordered to pay a $10,000 fine and enforcement expenses of $1,500 to the council, and complete a remedial real estate course at his own expense.
In an agreed statement of facts released by the council, Wang said he was approached in September 2012 by a former client who said there was an opportunity to work with an investor, identified in documents only as FN.
At a meeting in Richmond, FN told Wang she had plans to launch a Chinese-language website showcasing B.C. real estate. According to the statement of facts, FN told Wang she would introduce him to customers, many of whom had already decided which listings they wished to buy.
Between November 2012 and July 2013, Wang completed 17 property transactions referred to him via the website.
The statement of facts was signed in late June and the consent order was finalized in mid-July.
The details of Wang's suspension were released by the council this week.
According to the council, Wang “failed to act honestly and with reasonable care and skill when he prepared an offer for a property in Richmond, BC, on behalf of a purchaser whom he never met.”
And as Wang, said the council, has a personal real estate corporation, the licence of Alban Wang Personal Real Estate Corporation is also suspended and is equally responsible for the payment of the discipline and enforcement expenses.
