ETHEL T. CLARK (Fayetteville) – By Consent, the Commission suspended the broker license of Ms. Clark for a period of 12 months effective February 1, 2018. The Commission found that Ms. Clark, as the qualifying broker and broker-in-charge of a licensed real estate firm, failed to maintain the firm’s trust accounts in compliance with Commission Rules, failed to properly label checks and deposit tickets, failed to maintain property or owner ledgers, failed to produce trial balances, and failed to properly reconcile the trust accounts. As a result, the firm’s rental trust account and tenant security deposit account have shortages.
DONNA B. CLONINGER (Gastonia) – By Consent, the Commission suspended the broker license of Ms. Cloninger for a period of one year effective January 1, 2018. The Commission then stayed the suspension on certain conditions. The Commission found that Ms. Cloninger, acting as qualifying broker and broker-in-charge of a real estate brokerage firm, failed to inspect properties managed by the firm which resulted in significant unnoticed damage to a client-landlord’s property; that Ms. Cloninger failed to adequately supervise unlicensed employees of the firm, one of whom engaged in the practice of real estate by signing property management agreements on behalf of the firm, and failed to maintain firm trust account funds to cover bank service fees causing the bank to draft trust money to cover the fees, thereby causing a trust account shortage. The Commission noted that Ms. Cloninger and the firm have refunded the bank service fees to the trust account.
BRADLEY B. EAGLES (Wilson) By Consent, the Commission suspended the broker license of Mr. Eagles for a period of six months effective March 1, 2018. The Commission found that Mr. Eagles failed to report within 60 days a plea conviction for misdemeanor stalking and, in conjunction with his guilty plea, admitted texting profane messages and an explicit video of himself and the victim, his ex-girlfriend, without her consent.
FAMILY REALTY INVESTMENTS LLC (Fayetteville) – By Consent, the Commission permanently revoked the firm license of Family Realty Investments effective February 14, 2018. The Commission found that Family Realty Investments through its qualifying broker and broker-in-charge failed to provide requested records to a Commission investigator during a spot inspection and, after numerous attempts to get information, admitted to converting approximately $50,000 in trust funds to its own use.
FAMILY REALTY INVESTMENTS LLC (Fayetteville) – By Consent, the Commission permanently revoked the firm license of Family Realty Investments effective February 14, 2018. The Commission found that Family Realty Investments through its qualifying broker and broker-in-charge failed to provide requested records to a Commission investigator during a spot inspection and, after numerous attempts to get information, admitted to converting approximately $50,000 in trust funds to its own use.
FIRST CLASS PROPERTY MANAGEMENT LLC (Fayetteville) – By Consent, the Commission accepted the permanent voluntary surrender of the firm license of First Class Property Management effective January 17, 2018. The Commission dismissed without prejudice allegations that First Class Property Management violated provisions of the Real Estate License Law and Commission rules. First Class Property Management neither admitted nor denied misconduct.
GASTON LAKE LIMITED (Littleton) – The Commission accepted the voluntary permanent surrender of the firm license of Gaston Lake Limited effective March 14, 2018. The Commission dismissed without prejudice allegations that Gaston Lake Limited violated provisions of the Real Estate License Law and Commission rules. Gaston Lake Limited neither admitted nor denied misconduct.
PAULA L. K. GARCIA (Fayetteville) – By Consent, the Commission accepted the permanent voluntary surrender of the broker license of Ms. Garcia effective January 17, 2018. The Commission dismissed without prejudice allegations that Ms. Garcia violated provisions of the Real Estate License Law and Commission rules. Ms. Garcia neither admitted nor denied misconduct.
SUSANNE TERESA GEE (Fayetteville) – Following a hearing, the Commission permanently revoked the broker license of Ms. Gee, effective February 2, 2018. The Commission found that Ms. Gee, while acting as broker-in-charge and qualifying broker for Pyramid Investments LLC, failed to return tenant security deposits to tenants or her landlord clients on numerous occasions, failed to provide an accounting for the tenant security deposits, failed to respond to inquiries by Commission staff, failed to provide documents requested by Commission staff, and maintained a trust account containing overdraft fees, deficit spending, and a shortage. Moreover, Ms. Gee routinely promised to deliver the outstanding security deposits to landlords or tenants with no apparent intention to do so.
GOLDEN REAL ESTATE LLC dba The Preserve at Jordan Lake Realty (Chapel Hill) – By Consent, the Commission suspended the firm license of Golden Real Estate for a period of six months effective April 1, 2018. The Commission then stayed the suspension on certain conditions. The Commission found that Golden Real Estate through its qualifying broker and broker-in-charge acted as the listing agents for lots in The Preserve at Jordan Lake, a community in Chapel Hill and entered into a “Preferred Builders Program” that requires the preferred builders to pay Golden Real Estate and qualifying broker and broker-in-charge a commission for referring a lot buyer to one of the preferred builders to build a custom home. Golden Real Estate and its qualifying broker and broker-in-charge did not disclose the referral commission program to lot buyers when the lot buyers were choosing a custom home builder.
TONY R. GOLDEN (Chapel Hill) – By Consent, the Commission suspended the broker license of Mr. Golden for a period of six months effective April 1, 2018. The Commission then stayed the suspension on certain conditions. The Commission found that Mr. Golden was the qualifying broker and the broker-in-charge of a licensed real estate brokerage firm, that Mr. Golden and the firm acted as the listing agents for lots in The Preserve at Jordan Lake, a community in Chapel Hill and entered into a “Preferred Builders Program” that requires the preferred builders to pay Mr. Golden and the firm a commission for referring a lot buyer to one of the preferred builders to build a custom home. Mr. Golden and the firm did not disclose the referral commission program to lot buyers when the lot buyers were choosing a custom home builder.
LESTER QUINTIN GRANT (Maysville) – By Consent, the Commission reprimanded Mr. Grant effective April 3, 2018. The Commission found that Mr. Grant, acting as the broker-in-charge of a licensed real estate brokerage firm, marketed a property for sale nine days prior to obtaining a fully executed listing agreement and placed a tenant in the subject property and undertook the management of the property for a period of five months without obtaining a fully executed written property management agreement from the owners, and the firm’s property ledger for the subject property failed to identify the owner and tenant, the amount and date of monies deposited, the purpose of the monies deposited, from whom deposits were received, the purpose and identity to whom disbursements were paid, and the running balance of the funds on deposit.
HALL REAL ESTATE & INS AGENCY (Fayetteville) – By Consent, the Commission suspended the firm license of Hall Real Estate & Insurance Agency for a period of 12 months effective February 1, 2018. The Commission found that Hall Real Estate & Ins Agency, through its qualifying broker and broker-in-charge, failed to maintain its trust accounts in compliance with Commission Rules, failed to properly label checks and deposit tickets, failed to maintain property or owner ledgers, failed to produce trial balances, and failed to properly reconcile the trust accounts. As a result, the firm’s rental trust account and tenant security deposit account have shortages.
JASON DUANE JORDAN (Charlotte) – By Consent, the Commission permanently revoked the broker license of Mr. Jordan effective February 14, 2018. The Commission found that Mr. Jordan, as broker-in-charge of a licensed real estate firm, performed property management services for a client and failed to provide owner statements and rental proceeds in a timely manner, failed to respond to Letters of Inquiry from the Commission, and failed to provide property management and trust account records to Commission representatives despite agreeing to do so. Subpoenaed records showed that Mr. Jordan failed to maintain trust monies in a designated trust account. Mr. Jordan failed to provide records adequate to ascertain his liabilities or to confirm proper deposit and disbursement of trust monies.
TRISTA K. JONES (Wallace) – By Consent, the Commission suspended the broker license of Ms. Jones for a period of 36 months effective February 1, 2017. Thirteen months of the suspension were active with the remainder stayed through January 31, 2020. The Commission found that Ms. Jones was the bookkeeper for a licensed real estate brokerage firm, that in a Commission random letter audit of the firm’s trust account Ms. Jones failed to provide all of the requested documentation, and that an auditor in a site visit found that Ms. Jones failed to perform reconciliations, failed to maintain a general ledger, and failed to maintain a trust account journal. Moreover, Ms. Jones could not account for all rents and security deposits received and failed to deposit all rent payments and security deposits, received in cash, into the trust account within three banking days. Ms. Jones’ broker-in-charge further admitted to spending entrusted funds on expenses, other than for which the funds were intended, which led to deficit spending and a shortage in excess of $80,000 of firm’s trust account. Ms. Jones admitted to knowing that a shortage existed in the account
L Q GRANT PROPERTIES LLC (Maysville) – By Consent, the Commission reprimanded L. Q. Grant Properties effective April 3, 2018. The Commission found that L Q Grant Properties marketed a property for sale nine days prior to obtaining a fully executed listing agreement, placed a tenant in the subject property and undertook the management of the property for a period of five months without obtaining a fully executed written property management agreement from the owners, and the firm’s property ledger for the subject property failed to identify the owner and tenant, the amount and date of monies deposited, the purpose of the monies deposited, from whom deposits were received, the purpose and identity to whom disbursements were paid, and the running balance of the funds on deposit.
ROBERT WESTON LEAROYD III (Raleigh) – By Consent, the Commission revoked the broker license of Mr. Learoyd effective March 14, 2018. The Commission found that Mr. Learoyd, in August 2010, pled guilty to a misdemeanor Operating Personal Watercraft with Child without a Life Jacket in Carteret County; that in August 2014, Mr. Learoyd pled guilty to a misdemeanor Operating a Boat in a Reckless Manner in Carteret County; that in June 2016, Mr. Learoyd pled guilty to two counts of Trafficking in MDA/MDMA, one count of Maintain Vehicle, Dwelling, or Other Place for Use, Storage, or Sale of a Controlled Substance, and five counts of Possession/Distribution of a Precursor Chemical in Wake County and was sentenced to four terms of 6-17 months in prison to be served one after the other and ordered to pay $25,352.50; and that Mr. Learoyd failed to report any of these convictions to the Commission.
MOUNTAIN MANAGER & ASSOCIATES INC (Hiawassee, Georgia) – By Consent, the Commission accepted the voluntary surrender of the firm license of Mountain Manager & Associates for a period of 10 years effective January 17, 2018. The Commission dismissed without prejudice allegations that Mountain Manager & Associates violated provisions of the Real Estate License Law and Commission rules. Mountain Manager & Associates neither admitted nor denied misconduct.
NOBLE LLC (Huntersville) – By Consent, the Commission reprimanded Noble LLC effective April 1, 2018. The Commission found that Noble failed to enter into buyer agency agreements in any of its sales transactions and failed to have clients sign the Working with Real Estate Agents brochures.
JOHN F. PINTER (Tuskasegee) – By Consent, the Commission suspended the broker license of Mr. Pinter for a period of two years effective November 15, 2017. The Commission then stayed the suspension effective February 15, 2018 on condition that Mr. Pinter is ineligible to become or act as a broker-in-charge for a period of three years. The Commission found that Mr. Pinter failed to adequately execute his responsibilities as a broker-in-charge and failed to actively supervise a provisional broker affiliated with the firm and its unlicensed employees. The Commission also found that Mr. Pinter operated a firm under an assumed name without notifying the Commission, operated a branch office without designating a separate broker-in-charge; deposited rent monies and other entrusted funds in a trust account located in a Texas bank; failed to adequately review the trust account records, to ensure that all agency agreements complied with Commission Rule, or ensure that trust money was deposited in a reasonable amount of time; and allowed unlicensed individuals and business entities to be paid commissions. An audit conducted by the Commission determined that no money was missing from Mr. Pinter’s firm’s trust account, and it does not appear that any consumers have been harmed.
JOSE MANUEL POMALES (Fayetteville) – By Consent, the Commission permanently revoked the broker license of Mr. Pomales effective February 14, 2018. The Commission found that Mr. Pomales, acting as qualifying broker and broker-in-charge of a licensed real estate firm, failed to provide requested records to a Commission investigator during a spot inspection and, after numerous attempts to obtain information from him, admitted to converting approximately $50,000 in trust funds to his own use.
AMY J. POMERANTZ (Chapel Hill) – By Consent, the Commission reprimanded Ms. Pomerantz effective February 14, 2018. The Commission found that Ms. Pomerantz listed a property in the MLS with a square footage measurement of 4,807 square feet provided by an appraiser she hired; then received a 2013 appraisal from her seller client and changed the square footage in the MLS listing to 5,272 square feet, a difference of approximately nine percent. Another appraiser measured the property for the buyer as having 4,849 square feet and the buyer asked for and negotiated a price reduction before the buyer closed on the property.
DEANNA MARIE PORTER (Raleigh) – By Consent, the Commission revoked the provisional broker license of Ms. Porter effective March 14, 2018. The Commission found that Ms. Porter, as a provisional broker, regularly performed real estate brokerage without the supervision of her broker-in-charge; and along with her now deceased husband, an unlicensed employee of the firm, managed the day-to-day operations of the firm; and that Ms. Porter’s husband converted approximately $128,000 in trust funds to their own use including transferring funds to their joint and personal accounts, and paying rent on their residence.
PYRAMID INVESTMENTS LLC (Fayetteville) – Following a hearing, the Commission permanently revoked the firm license of Pyramid Investments, effective February 2, 2018. The Commission found that the broker-in-charge and qualifying broker for Pyramid Investments, failed to return tenant security deposits to tenants or her landlord clients on numerous occasions, failed to provide an accounting for the tenant security deposits, failed to respond to inquiries by Commission staff, failed to provide documents requested by Commission staff, and maintained a trust account containing overdraft fees, deficit spending, and a shortage. Moreover, the broker-in-charge routinely promised to deliver the outstanding security deposits to landlords or tenants with no apparent intention to do so.
JAMES WESLEY RUSSELL (Cartersville, Georgia) – By Consent, the Commission accepted the voluntary surrender of the broker license of Mr. Russell for a period of 10 years effective January 17, 2018. The Commission dismissed without prejudice allegations that Mr. Russell violated provisions of the Real Estate License Law and Commission rules. Mr. Russell neither admitted nor denied misconduct.
SRP MANAGEMENT (Gastonia) – By Consent, the Commission suspended the firm license of SRP Management for a period of one year effective January 1, 2018. The Commission then stayed the suspension on certain conditions. The Commission found that SRP Management through its qualifying broker and broker-in-charge failed to inspect properties managed by the firm that resulted in significant unnoticed damage to a client-landlord’s property; that the broker-in-charge failed to adequately supervise unlicensed employees of the firm, one of whom signed property management agreements on behalf of the firm, and failed to maintain funds to cover bank service fees causing the bank to draft trust money to cover the fees, thereby causing a trust account shortage. The Commission noted that the broker-in-charge and the firm have refunded the bank service fees to the trust account.
TRIAD REALTY PROS LLC (Greensboro) – By Consent, the Commission permanently revoked the firm license of Triad Realty Pros effective April 11, 2018.The Commission found that Triad Realty Pros worked closely with a property management firm which it often paid through its operating account. The property management firm’s license was previously revoked by the Commission due to its unlicensed owner having signature authority over the accounts, among other things, in violation of its probation sanction. An audit of Triad Realty Pros’ trust accounts found: deficit spending, journals which failed to identify the check number, payee, and purpose of disbursements, lack of an audit trail, failure to perform monthly bank reconciliations, ledger sheets which failed to identify the property, owners and tenants, and from whom monies were received, the same check numbers being used on a regular basis, and shortages in excess of $17,000. Multiple checks were being cashed by an unlicensed assistant who also had signature authority for Triad Realty Pros’ accounts.
URBAN HOMES REALTY AND MANAGEMENT LLC (Charlotte) – By Consent, the Commission permanently revoked the firm license of Urban Homes Realty and Management effective February 14, 2018. The Commission found that Urban Homes Realty and Management through its broker-in-charge performed property management services for a client and failed to provide owner statements and rental proceeds in a timely manner, failed to respond to Letters of Inquiry and failed to provide property management and trust account records to Commission representatives despite the agreement of its broker-in-charge to do so. Subpoenaed records showed that the firm failed to maintain trust monies in a designated trust account. Urban Homes Realty and Management failed to provide records adequate to ascertain its liabilities or to confirm proper deposit and disbursement of trust monies.
VIJAY KRISHNA MOHAN VULLI (Huntersville) – By Consent, the Commission reprimanded Mr. Vulli effective April 1, 2018. The Commission found that Mr. Vulli acted as the qualifying broker and broker-in-charge of a licensed real estate brokerage firm, that Mr. Vulli failed to enter into buyer agency agreements in any of its sales transactions, and failed to have clients sign the Working with Real Estate Agents brochures.
QING WANG (Cary) – By Consent, the Commission suspended the broker license of Ms. Wang for a period of 10 months effective April 11, 2018. The Commission then stayed the suspension for a probationary period from April 11, 2018 through February 10, 2019. The Commission found that Ms. Wang reported her Level 1 DWI conviction to the Commission 82 days after receiving the final judgement. Ms. Wang received 18 months of supervised probation, completed a substance abuse assessment, and surrendered her driver license.
DAVID MATTHEU WOOLARD (Jacksonville) – By Consent, the Commission suspended the broker license of Mr. Woolard for a period of six months effective March 15, 2018. The Commission then stayed the suspension for a probationary period of six months. The Commission found that Mr. Woolard timely reported a July 6, 2017 plea conviction for misdemeanor possession of drug paraphernalia stemming from a January 2013 arrest, that Mr. Woolard reported five misdemeanor convictions on his 2010 broker license application, and that the conviction is Mr. Woolard’s second possession of drug paraphernalia conviction.
This article came from the May 2018-Vol49-1 edition of the bulletin.