An Alberta licensee's conduct in a transaction is referred to a RECA Hearing Panel. Under the Real Estate Act, what may the Hearing Panel order if it finds the conduct deserving of sanction?
Correct Answer
C) A reprimand, conditions, a fine, suspension or cancellation of the licence, and costs
Section 43(1) of the Real Estate Act lets a Hearing Panel that finds conduct deserving of sanction cancel or suspend a licence, reprimand the licensee, impose conditions or restrictions, order a fine of up to $25,000 for each finding, bar a new licence application for a period or until conditions are met, or make any order the parties agree to. Under s. 43(2) it may also order the licensee to pay all or part of the investigation and hearing costs.
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An Alberta brokerage is using a designated agency model. During a transaction, the designated buyer's associate inadvertently shares their client's maximum price with the designated seller's associate within the same brokerage. What is the consequence?
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