Consent Order

A discipline committee of the Real Estate Council of British Columbia (the “Council”) accepted the Consent Order Proposal submitted by Steven Gordon Croft, and found that he committed professional misconduct when he failed to:

1. promptly provide to his managing broker with the original or copies of all trade records;
2. keep his managing broker informed of the trading services that he performed on behalf of the Brokerage;
3. immediately notify his managing broker when deposits were not received as contemplated in two contracts of purchase and sale;
4. take reasonable steps to avoid a conflict of interest, in that he acted as a limited dual agent for the Croft Agencies Ltd. and the seller, when he was also a shareholder of Croft Agencies Ltd. (an “associate” as defined under section 5-7 of the Rules);
5. promptly and fully disclose this conflict of interest to the seller; and
6. make a disclosure to the seller:
   1. in which he disclosed that he was an “associate” of the buyer and had an interest in trade;
   2. promptly and before any agreement for the acquisition or disposition of the real estate was entered into; and
   3. in writing and in a form approved by the Council.

Results

A discipline committee of the Council has ordered, and Mr. Croft has agreed to, the following penalties:

1. a discipline penalty of $5,000; and
2. enforcement expenses of $1,500 to the Council.