B.C. realtor ordered to pay $150K for forging signature
A B.C. realtor has been ordered to pay $150,000 and had her licence suspended for nine months for professional misconduct that included forging a signature multiple times.
According to an April 22 Financial Service Tribunal decision released last week, Wei Qing Yang, who goes under the name Wendy Yang, was found guilty of professional misconduct for various incidents that took place in 2015 and 2016.
Yang worked out of the Pan Pacific Platinum Real Estate Services which does business as New Coast Realty in Richmond while the majority of the incidents took place.
Following a 12-day hearing, Yang was found guilty of using the managing broker's photocopied signature on multiple listing agreements, largely to change the expiry date and on some occasions to amend the listing price.
On one occasion she increased the listing price to $2.7 million from $2.6 million.
Yang also acted slowly to cancel a seller's listing and failed to inform them that they couldn't re-list their property within 60 days of the cancellation.
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According to the decision, on two occasions Yang failed to disclose the full extent of her remuneration to New Coast Realty and allowed a sale contract to improperly identify individuals as selling agents and as buying agents, which was incorrect.
Yang was found guilty of professional misconduct, and conduct unbecoming a licensee.
On two other occasions, Yang was found to have failed to promptly provide New Coast Realty with a copy of the offer that had been accepted by the buyer and only did so three days after she'd transferred her licence to a different real estate brokerage.
Yang was originally ordered to pay enforcement expenses of $150,000 and suspended for 12 months.
However, Yang appealed the decision and the suspension was reduced to nine months. She was still ordered to pay $150,000.
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