SUSAN JONES AMICK (CHARLOTTE) – By Consent, the Commission reprimanded Ms. Amick, effective January 17, 2022. The Commission found that Ms. Amick assisted with maintaining the trust accounts at the firm. An audit of these accounts found that two different software systems were being used, which caused reporting issues. Monthly reconciliations of the bank balance and property ledger trial balance were also not occurring. Furthermore, the software system had not been completely set up when it was implemented years ago. Deficit spending was also present and the security deposit did not hold enough personal funds to offset the bank fees. Finally, not all transactions were being reported on the same date in the journal and ledger, which lead to unreliable reporting. The Commission noted that Ms. Amick’s firm has now converted to one software management system and hired an independent auditor who assisted with bringing the accounts into compliance with Commission rules; Ms. Amick’s firm has hired a CPA to assist in oversight moving forward; and Ms. Amick has taken the Basic Trust Account Procedures course.
JANICE R COOPER (PRINCEVILLE) – By Consent, the Commission reprimanded Ms. Cooper, effective February 17, 2022. The Commission found that during her tenure as the BIC of a firm, in January 2021, a broker affiliated with Ms. Cooper listed two residential properties for a seller client. In February 2021, the broker was notified that the properties were owned in part by the heirs of the seller’s deceased ex-husband. The broker failed to disclose to the buyers or closing attorneys that there were additional owners. The first property closed after the broker provided the closing attorney with documents which falsely indicated that the seller-client was widowed, not divorced, and therefore owned the properties. All proceeds went to the seller-client. The closing attorney for the second property discovered the ownership interests. When informed of possible ownership issues, Ms. Cooper failed to advise the affiliated broker to disclose the ownership issues to the buyers but advised the broker to inform the closing attorney and that it would be caught during a title search. The Commission noted that Ms. Cooper assisted with the transaction to get the second transaction closed and the seller-clients have refunded the proceeds from the first transaction.
STEPHANIE D DAVIS (SANFORD) – By Consent, the Commission suspended the broker license of Ms. Davis for a period of 3 years, effective February 1, 2020. The Commission then stayed the suspension effective February 1, 2022. The Commission found that Ms. Davis, acting as BIC of a sole proprietorship, failed to safeguard and account for trust account money and failed to properly maintain trust account records in compliance with Commission rules. Commission staff also determined that Ms. Davis’ trust account was short $11,229.78.
SUZANNE BERNADETTE DAVIS (CHAPEL HILL/ORANGE COUNTY) – The Commission accepted the permanent voluntary surrender of the broker license of Ms. Davis effective February 16, 2022. The Commission dismissed without prejudice allegations that Ms. Davis violated provisions of the Real Estate License Law and Commission rules. Ms. Davis neither admitted nor denied misconduct.
KRISTI GALLAGHER FOSTER (BOONE) – The Commission accepted the voluntary surrender of the broker license of Ms. Foster for a period of five years, effective February 16, 2022. The Commission dismissed without prejudice allegations that Ms. Foster violated provisions of the Real Estate License Law and Commission rules. Ms. Foster neither admitted nor denied misconduct.
FOUR SEASONS PROPERTY MANAGEMENT INC (CHARLOTTE) – By Consent, the Commission suspended the firm license of Four Seasons Property Management Inc. for a period of 12 months, effective January 17, 2022. The Commission then stayed the suspension in its entirety. The Commission, during an audit of Four Seasons Property Management Inc.’s trust accounts, found that two different software systems were being used, which caused reporting issues. Monthly reconciliations of the bank balance and property ledger trial balance were also not occurring. Furthermore, the software system had not been completely set up when it was implemented years ago. Deficit spending was also present and the security deposit did not hold enough personal funds to offset the bank fees. Finally, not all transactions were being reported on the same date in the journal and ledger, which lead to unreliable reporting. The Commission noted that Four Seasons Property Management Inc. has now converted to one software management system and hired an independent auditor who assisted with bringing the accounts into compliance with Commission rules and that Four Seasons Property Management Inc. has hired a CPA to assist in oversight moving forward.
MICHAEL ROBERT GRAHAM (MOORESVILLE) The Commission accepted the voluntary surrender of the broker license of Mr. Graham for a period of two years, effective January 19, 2022. In light of the surrender, the Commission dismissed without prejudice a complaint filed against Mr. Graham relating to an alleged misrepresentation of a property’s sewage disposal system.Mr. Graham neither admitted nor denied misconduct.
HIGH COUNTRY VACATION HOMES (BOONE) – The Commission accepted the permanent voluntary surrender of the firm license of High Country Vacation Homes, effective February 16, 2022. The Commission dismissed without prejudice allegations that High Country Vacation Homes violated provisions of the Real Estate License Law and Commission rules. High Country Vacation Homes neither admitted nor denied misconduct.
MARY M. HUNT (LUMBERTON) – The Commission accepted the voluntary surrender of the broker license of Ms. Hunt for a period of five years, effective February 16, 2022. The Commission dismissed without prejudice allegations that Ms. Hunt violated provisions of the Real Estate License Law and Commission rules. Ms. Hunt neither admitted nor denied misconduct.
ELIZABETH HOLLY RAMOS (JACKSONVILLE) – The Commission accepted the permanent voluntary surrender of the broker license of Ms. Ramos effective February 16, 2022. The Commission dismissed without prejudice allegations that Ms. Ramos violated provisions of the Real Estate License Law and Commission rules. Ms. Ramos neither admitted nor denied misconduct.
FAWN ELIZABETH THAYER (DURHAM) – By Consent, the Commission suspended the broker license of Ms. Thayer for a period of 4 months, effective February 17, 2022. The Commission found that Ms. Thayer participated in a social media exam study group and actively shared confidential exam information or encouraged others to gather exam information.
JOHN C WELCH JR (CHARLOTTE) – By Consent, the Commission suspended the broker license of Mr. Welch Jr. for a period of 12 months, effective January 17, 2022. The Commission then stayed the suspension in its entirety. The Commission found that as the BIC of a firm, an audit of Mr. Welch Jr.’s trust accounts found that two different software systems were being used, which caused reporting issues. Monthly reconciliations of the bank balance and property ledger trial balance were also not occurring. Furthermore, the software system had not been completely set up when it was implemented years ago. Deficit spending was also present and the security deposit did not hold enough personal funds to offset the bank fees. Finally, not all transactions were being reported on the same date in the journal and ledger, which lead to unreliable reporting. The Commission noted that Mr. Welch Jr has now converted to one software management system and hired an independent auditor who assisted with bringing the accounts into compliance with Commission rules, and that Mr. Welch Jr has stepped down as BIC of the firm.