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When Realtors Go Wrong: BC Real Estate Watchdog useless it is claimed

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  • May 15th, 2015 1:06 am
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When Realtors Go Wrong: BC Real Estate Watchdog useless it is claimed

Questions are being raised about the industry watchdog that's supposed to discipline realtors in B.C.

Nearly two years ago CTV News investigated a Metro Vancouver realtor named Marco Vincenzi. He was suspended after getting caught altering documents.

Now, CTV News has learned that Vincenzi has had his license suspended again and that's raising questions about whether the Real Estate Council of B.C.is doing enough to protect people buying and selling their homes.

Consumer reporter Lynda Steele first met Janet MacKenzie in the spring of 2013. She'd been trying to buy a Yaletown condo, listed for sale with a reduced commission.

Her realtor, Marco Vincenzi apparently didn't want to lose money on the deal, so behind the scenes, he was altering documents, changing offer prices, and submitting offers without MacKenzie's permission.
When she complained to the Real Estate Council of B.C., it determined after a 16-month-long investigation, that Vincenzi had committed "professional misconduct". He was fined $1,250, ordered to take a remedial course, and given a 120 day suspension.

So MacKenzie was furious to learn that just weeks into his suspension, Vincenzi was accused of practicing real estate again.

This time the Real Estate Council took 18 months to investigate, before ordering Vincenzi be suspended for the lesser term of 60 days.

...

According to that site, in the last fiscal year, there were just over 21,000 licensed realtors in B.C. There were 413 complaints investigated by the council. Resulting in 97 realtors being disciplined or suspended and the grand total of licences cancelled outright was just one.

"There is a relationship of trust, and when a consumer feels that that trust has been betrayed, that's a big deal," said Peters.

http://bc.ctvnews.ca/when-realtors-go-w ... -1.2368948
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