A licensee operating through a personal real estate corporation (PREC) is found to have committed professional misconduct. Under RESA, which parties may face disciplinary action by BCFSA?
Correct Answer
C) The individual licensee, the PREC, and potentially the managing broker who failed to supervise
Real Estate Services Regulation s. 10.9 makes a PREC and its controlling individual answerable for each other's professional misconduct, so both can be disciplined under Part 4 of RESA. The managing broker, who is responsible under RESA s. 6(2) for supervising the brokerage's licensees, can also be disciplined if the misconduct reflects a failure to supervise.
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