Agent loses license for five years

by REP01 Jun 2015
Allegations of conflict of interest and taking advantage of a mentally ill woman are at the centre of a case that recently saw a Canadian real estate agent lose his license for five years.

Jim Parsons of One Per Cent Realty in Victoria was also fined $10,000 and ordered to pay expenses of $22,487 in the decision by the Real Estate Council of B.C.

“The committee found that Mr. Parsons’ conduct was of an extremely low standard,” the disciplinary hearing committee wrote in its decision, according to the Times Colonist.

“His callous disregard for his client’s interests, his dishonesty, and his failure to meet even the basic requirements of a licensee were independently deserving of a severe penalty.”

Parsons represented the woman (while his son represented the seller) when she purchased a condo in Saanich in February 2007. In the fall of that year, the buyer was hit by a charge of $59,598 from the condo association to repair the building.

The committee ruled that Parsons had failed to disclose that his son represented the seller, failed to reveal that there was an engineer’s report that addressed the issue of water leaking into the condo, failed to request a home inspection as part of the offer to purchase, and failed to make sufficient enquires about the woman’s ability to conduct business.

Parsons has appealed to the provincial government’s Financial Services Tribunal, maintaining that the conflict-of-interest allegation is unfounded and that he didn’t know the woman was mentally ill until days after her offer on the condo had been accepted.

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