Stephanie Ip
The Province
A realtor has been suspended after it was found he had conducted more than a dozen sales referred by an unlicensed Chinese-language real estate website that offered Lower Mainland listings to foreign buyers.
Xiao Ming (Alban) Wang’s real estate licence was suspended for a year, effective Wednesday, by the Real Estate Council of B.C. He was also ordered to pay a $10,000 fine and enforcement expenses of $1,500 to the council, and complete a remedial real estate course at his own expense.
In an agreed statement of facts released by the council, Wang said he was approached in September 2012 by a former client who said there was an opportunity to work with an investor, identified in documents only as FN.
At a meeting in Richmond, FN told Wang she had plans to launch a Chinese-language website showcasing B.C. real estate. According to the statement of facts, FN told Wang she would introduce him to customers, many of whom had already decided which listings they wished to buy.
Between November 2012 and July 2013, Wang completed 17 property transactions referred to him via the website.
The statement of facts was signed in late June and the consent order was finalized in mid July. The details of Wang’s suspension were released by the council this week.
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