An Edmonton-area real estate agent has been handed a one-month suspension after a hearing by the Real Estate Council of Alberta for several serious violations.
Mike Banks, an agent with Excellence Real Estate Edmonton Ltd., is prohibited from trading in real estate between January 31 and February 28, 2025.
He was also fined $21,000 for breaking the Real Estate Act.
The hearing revealed that Banks engaged in commercial real estate transactions without being licensed between November 23, 2021, and December 31, 2021.
He did not inform a potential client that he was not authorized to work in the commercial real estate sector when discussing a property purchase.
In December 2021, Banks attempted to take the commercial real estate exam at the Northern Alberta Institute of Technology (NAIT), where all visitors were required to show proof of vaccination due to COVID-19 policies.
Banks, who was not vaccinated, tried to enter with a fake vaccination document, which appeared to have been altered.
When his false proof was detected, Banks claimed medical exemption, but it was later found that he had lied about his condition.
After being denied entry, Banks tried to bribe the exam coordinator, offering up to $1,000 or a year’s salary to gain access.
He was asked to leave the premises. Later, when Banks inquired about his exam status, he complained angrily about the situation and was informed that he would need to pay for another exam.
The panel concluded that Banks’ actions violated ethical standards, including lying and attempting to bribe officials, which led to his suspension.
This decision highlights the importance of integrity and honesty in the real estate profession.
Related
How to Partner with a Real Estate Agent for Successful Investments
Why Investing in Real Estate with a Real Estate Agent is a Smart Move
Real Estate Agents and Brokers: Navigating the Dynamic Landscape of Property Transactions
In Banks’ case, this suspension serves as a reminder that unethical behavior can have serious consequences, even for experienced professionals.
It’s clear that in real estate, following the rules and maintaining honesty is crucial for long-term success.