VANCOUVER, Sept. 12, 2014 /CNW/ - The Real Estate Council of British Columbia (the "Council") advises that the real estate licence of Diversified Properties Ltd., Victoria, was suspended on September 10, 2014.
The Council suspended this licence in the public interest as a result of Diversified Properties Ltd.'s unauthorized withdrawal of funds from one client's trust account and subsequent failure to comply with the direction of Council to cover the shortage in that trust account. Diversified Properties Ltd. is prohibited from providing real estate services to or on behalf of any member of the public as a result of this order. This suspension is in accordance with section 45 of the Real Estate Services Act and remains in effect until further notice.
Any concerned clients of Diversified Properties Ltd. should direct their inquiries to the Council at 604-683-9664 or toll-free at 1-877-683-9664.
The Council is a regulatory agency established by the provincial government. Its mandate is to protect the public by enforcing the licensing and licensee conduct requirements of the Real Estate Services Act.
SOURCE: Real Estate Council of BC
For further information:
Real Estate Council of British Columbia
T: 604-683-9664, Toll-Free 1-877-683-9664