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A discipline committee of the Council has imposed penalties against Xiao Zhong (Jordan) Guo, while licensed with New Coast Realty, that relate to conduct investigated in two files:
Mr. Guo was acting as a limited dual agent, representing both buyer and seller in the same transaction. In this transaction, Mr. Guo created an exclusive listing contract and a contract of purchase and sale (CPS) on the same date, but backdated the exclusive listing contract by three weeks. Mr. Guo did not have the buyers and sellers sign Working with a Realtor brochures and Limited Dual Agency Agreements until after the contracts were created. These should have been reviewed and signed at the time Mr. Guo first began representing the clients.
Mr. Guo did not include a condition in the CPS making the buyer's offer subject to the buyer obtaining, reviewing and approving the strata documentation for the property, which should have been included as a standard clause.
Two weeks after the subjects were to have been removed, Mr. Guo drafted an addendum to extend the subject removal dates by two weeks.
A few weeks later, Mr. Guo prepared a new CPS for the same transaction, which did not show that he was working as a limited dual agent representing both buyer and seller.
Mr. Guo did not promptly provide his managing broker with the required trading records for the transaction.
Licensees must act honestly and with reasonable care and skill. Mr. Guo's actions show that he failed in his duties to his clients, contravening section 3-4 of the Rules.
On two occasions Mr. Guo published and circulated brochures advertising a property for sale by assignment. Each time, he did this without the consent of the property owners. Licensees must act honestly and with reasonable care and skill. Mr. Guo's actions show that he failed to do this, contravening section 3-4 of the Rules.
Licensees must not advertise real estate unless the owner, or an authorized agent of the owner, consents to the advertising. By advertising without the owners' consent, Mr. Guo contravened section 4-8 of the Rules.
In one of the sales, Mr. Guo acted as the buyer's agent and submitted an offer on behalf of his own company. He did not provide a disclosure of interest in trade form to the seller, disclosing that he was a shareholder, director and officer of the company offering to buy the property. Mr. Guo's actions contravened sections 3-4 and 5-1(9)(b) of the Rules.
A discipline committee of the Council has ordered the following:
- Mr. Guo's licence is suspended for 45 days, from September 20 until November 4 inclusive; he will not act as an unlicensed assistant during the time of his licence suspension.
- Mr. Guo must pay a discipline penalty of $5,000.00 to the Council.
- Mr. Guo must pay enforcement expenses of $3,000.00 to the Council.
- At his own expense, Mr. Guo must successfully complete the Real Estate Trading Services Remedial Education Course in the time period directed by the Council.
- Mr. Guo will be under enhanced direct supervision of a managing broker for a period of not less than one year (following the end of the suspension period) as described in the terms of the Enhanced Supervision Conditions attached as Schedule 1 to this consent order.
Full consent order is available as a PDF.