It’s unclear why the real-estate agent thought this was a good plan of action.
British Columbia’s Real Estate Council has suspended property agent Craig Steven Lau of Macdonald Realty Westmar in Richmond for professional misconduct and imposed fines amounting to a total of $17,768.
According to The Georgia Straight, Lau allowed his name to be used as the agent for a buyer in three real-estate transactions despite not actually offering any services. Lau admitted his actions in a “consent order proposal” presented to the province’s Real Estate Council.
Lau says that he was “approached by his cousin by marriage,” identified in documents as “Mr. Xxxxx,” another real-estate license holder, to have his name used as the buyer’s agent on three of Mr. Xxxxx’s own listings.
“In exchange for allowing Mr. Xxxxx to use his name, Mr. Lau would receive a portion of the buyer’s commission and he would give Mr. Xxxxx the majority of the buyer’s commission on each transaction,” reads the consent order proposal.
Despite Lau’s name being used, he provided no real estate services to the buyer or the seller in these transactions.
The deals occured in Squamish B.C. and happened back in 2017. Lau’s six month real estate license suspension will run from July 7th to January 7th. Fines include two disciplinary penalties of $5,000 and $11,268 and enforcement expenses of $1,500.