Business ProfileforColdwell Banker Universe Realty
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On April 4, 2019 a discipline committee of the Real Estate Council of British Columbia (the "Council") accepted the Consent Order Proposal submitted by OMAX Realty Ltd. and found that OMAX Realty Ltd. committed professional misconduct when it:
without a proper recording of the transaction, permitted the transfer of client trust funds from the Brokerage's trust account to its general account without the specific client authorization; and
allowed the client's trust account to be charged back in the amount of $514.40 for work performed on behalf of and paid for by an unlicensed third party unrelated to the Brokerage.
permitted the transfer of $700.00 and $850.00 respectively from the Brokerage's security deposit trust account into the Brokerage's trust account without the knowledge or authorization of the client.
A discipline committee of the Council has ordered, and OMAX Realty Ltd. has agreed to, the following penalties:
a reprimand;
a discipline penalty of $3,500; and
enforcement expenses of $1,500.
The full consent order may be read here
At-a-glance
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Business Details
- Location of This Business
- 25-8430 128 St, Surrey, BC V3W 4G3
- BBB File Opened:
- 3/5/2019
- Years in Business:
- 8
- Business Started:
- 16/12/2015
- Type of Entity:
- Sole Proprietorship
- Alternate Business Name
- OMAX Realty Ltd.
- Business Management
- Jagmohan Bhandari, Managing Broker
- Contact Information
Principal
- Jagmohan Bhandari, Managing Broker
Customer Contact
- Jagmohan Bhandari, Managing Broker
Customer Complaints
0 Customer Complaints
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