Sentences with phrase «unlicensed individuals acting»

RECA sets and enforces high standards of ethical, professional behaviour for licensed real estate and mortgage professionals, and takes enforcement action against unlicensed individuals acting as real estate and mortgage professionals.

If a consumer has entrusted money to a real estate licensee or an unlicensed individual acting on behalf of a brokerage and that money has been misappropriated or wrongfully converted, intentionally not paid over or accounted for, or obtained by the fraud of that licensee or individual, the consumer may wish to make a claim against the Real Estate Special Compensation Fund.

Not exact matches

A licensee on inactive status may not perform the acts of a licensee for a fee for a licensed individual or company or for an unlicensed individual or company.

730 DOS 02 DOS v. New World Realty of New York, Inc. — availing of license; deposits; disclosure of agency relationships; duty to supervise sales associates; failure to pay judgment; proper business practices; DOS has jurisdiction where disciplinary action was started while individual was licensed as an associate broker and was eligible to automatically renew at the time of the disciplinary hearing; salesperson owned voting stock in licensed corporate real estate broker, failed to pay judgment and failed to present evidence of inability to do so, and engaged in unlicensed activity after license expired; representative broker availed corporate real estate brokers license to salesperson; representative broker failed to properly supervise salesperson by permitting and authorizing salesperson to act as a real estate broker; broker and salesperson failed to make agency disclosures and failed to deposit funds of principal in a special bank account; real estate transaction conducted was a fraudulent business practice; DOS fails to prove the unauthorized practice of law; salesperson's license revoked and salesperson ordered to pay refund of $ 1,406.00 of illegal commission collected; representative broker's license revoked and broker ordered to refund $ 74.00 of illegal commission collected; representative broker fined $ 5,000.00

The exemption under section 2.5 of the Real Estate Services Regulation is only available for individuals who are employees of developers; therefore, the unlicensed marketing company is not able to act under this exemption both because it is not an «individual», and because the proposed relationship with the developer is that of an independent contractor rather than an employee.

Any individual who provides rental property management services to a strata corporation client on behalf of a brokerage must also either be licensed to provide rental property management services or be an unlicensed employee of a brokerage that is licensed to provide rental property management services, where the employee is acting under the «Exemption for caretakers employed by brokerages» in section 2.14 of the Regulation.