TERRI B. ALLEN (Shallotte) – By Consent, the Commission suspended the broker license of Ms. Allen for a period of 18 months effective November 1, 2011. Four months of the suspension were active with the remainder stayed for a probationary period of one year beginning March 1, 2012. The Commission found that during 2008 Ms. Allen listed a house and lot for $39,900, submitted an offer to purchase for $35,000 to her seller client on behalf of an entity she owned and controlled, but failed to submit an offer from a competing purchaser for $44,000 and failed to disclose her interest in the buyer entity. The Commission also found that during 2009, Ms. Allen listed a condominium and submitted an offer to purchase from a buyer client without informing her seller client of another firm’s interest in making an offer and did not give the competing purchaser an opportunity to make an offer on the property as Ms. Allen promised.
ARNOLD G. ANDERSON (Marion) – By Consent, the Commission suspended the broker license of Mr. Anderson for a period of one year effective August 1, 2011. The Commission found that Mr. Anderson’s certification as a residential appraiser by the North Carolina Appraisal Board was suspended by the Board for a period of five years effective January 1, 2010, with a stay allowed as of July 1, 2011, if Mr. Anderson completed certain conditions.
ASHEVILLE 4 SEASONS LLC (Asheville) – By Consent, the Commission reprimanded Asheville 4 Seasons effective March 1, 2012. The Commission found that Asheville 4 Seasons listed an unimproved lot and represented in the MLS system that a manufactured home could be placed on the lot, but failed to change the representation when shortly after listing the lot, a county-wide zoning ordinance was adopted which prohibited manufactured housing on the lot. The Commission also found that Asheville 4 Seasons acted as dual agent for the sale of the property and again represented to the buyer that a mobile home could be put on the lot; the buyer learned of the restrictions on the lot after closing. The Commission noted that Asheville 4 Seasons refunded its commission to the buyer and has agreed to list the subject lot for the buyer at no charge.
BEACH VACATION PROPERTIES, INC. (Atlantic Beach) – The Commission accepted the voluntary surrender of the firm license of Beach Vacation Properties for a period of one year effective February 13, 2012. The Commission dismissed without prejudice allegations that Beach Vacation Properties violated provisions of the Real Estate License Law and Commission rules. Beach Vacation Properties neither admitted nor denied misconduct.
JEFFREY S. BEISER (Charlotte) – By Consent, the Commission reprimanded Mr. Beiser effective March, 1, 2012. The Commission found that Mr. Beiser, qualifying broker and broker-in-charge of a licensed real estate brokerage firm, acted as property manager for a landlord-client and disbursed rental proceeds before verifying that the rent checks had cleared, causing the proceeds checks to be returned for insufficient funds. The Commission noted that Mr. Beiser has ceased doing property management, allowed his firm’s license to expire on June 30, 2011, and transferred his management contracts to another licensed broker and delivered all information and security deposits in a timely manner.
WILLIAM R. BREEN, JR. (Rutherfordton) – The Commission revoked the broker license of Mr. Breen effective February 23, 2012. The Commission found that Mr. Breen entered into a contract with a buyer for the purchase of a lot owned by Mr. Breen and his wife and, when the contract expired due to an unresolved boundary dispute, failed to return $20,000 in earnest money to a buyer. The Commission also found that Mr. Breen borrowed $50,000 against the vacant lot, but failed to make payments on the note and the property was later sold at foreclosure. Finally, the Commission found that Mr. Breen made misrepresentations to a District Court Judge of North Carolina and failed to respond appropriately and timely to written Letters of Inquiry from the Commission.
BONNIE F. BURHANS (Mars Hills) – By Consent, the Commission suspended the broker license of Ms. Burhans for a period of one year effective April 1, 2012. The Commission then stayed the suspension for a probationary period of one year ending April 1, 2013. The Commission found that Ms. Burhans, acting as qualifying broker and broker-in-charge of a real estate firm until March 2009 when she closed the firm and cancelled its license, hired but failed to supervise an unlicensed bookkeeper, allowing the bookkeeper to embezzle trust money, and failed to review or reconcile trust records. The Commission also found that Ms. Burhans opened a new real estate brokerage firm in October 2009 under the same name as her previous firm and performed only buyer agency services, but failed to execute a written buyer agreement in one of two transactions.
KAREN CAMPBELL (Raleigh) – The Commission accepted the voluntary surrender of the broker license of Ms. Campbell for a period of three years effective April 5, 2012. The Commission dismissed without prejudice allegations that Ms. Campbell violated provisions of the Real Estate License Law and Commission rules. Ms. Campbell denied any misconduct.
JERRY CAMPBELL (Raleigh) – The Commission accepted the voluntary surrender of the broker license of Mr. Campbell for a period of three years effective April 5, 2012. The Commission dismissed without prejudice allegations that Mr. Campbell violated provisions of the Real Estate License Law and Commission rules. Mr. Campbell denied any misconduct.
CAROLINA PROPERTY ASSOCIATES (Holly Springs) – By Consent, the Commission suspended the firm license of Carolina Property Associates for a period of one year effective March 1, 2011. The Commission found that Carolina Property Associates, a real estate brokerage and property management firm, charged unauthorized fees to home purchasers subject to the regimes of their association clients. The Commission also found that Carolina Property Associates failed to maintain homeowner association money in an exclusive trust account designated with the words “trust” or “escrow”, and failed to keep accurate and complete records of the monies they held for their landlord clients and their tenants. Finally, the Commission found that Carolina Property Associates, acting as a broker for homebuyers and sellers and as trustee for earnest money deposits, failed to keep accurate and complete records of clients’ monies in its care and failed to accurately and promptly account for the funds of others in its custody.
RODNEY CAVERLY (Mint Hill) – The Commission accepted the permanent voluntary surrender of the broker license of Mr. Caverly effective February 13, 2012. The Commission dismissed without prejudice allegations that Mr. Caverly violated provisions of the Real Estate License Law and Commission rules. Mr. Caverly neither admitted nor denied misconduct.
RICHARD D’ANJOLELL (Oak Island) – By Consent, the Commission reprimanded Mr. D’Anjolell effective May 1, 2012. The Commission found that Mr. D’Anjolell engaged Mr. D’Anjolell’s employing brokerage firm to manage a vacation rental property owned by a family member. The lender foreclosed on the property. Mr. D’Anjolell knew about the foreclosure but failed to inform his employer in a timely manner about the foreclosure, which resulted the family member collecting advanced rents on the property and Mr. D’Anjolell’s employing broker continuing to offer the property to tenants after ownership changed hands.
DICK PATTON REALTY CO., INC. (Durham) – By Consent, the Commission revoked the broker license of Dick Patton Realty Co. effective March 15, 2012. The Commission found that Dick Patton Realty Co., a property management firm, failed to maintain its trust account records in compliance with the Real Estate License Law and Commission rules and the liabilities exceeded the funds on hand by approximately $87,000. The Commission noted that Dick Patton Realty Co. has fully funded the trust accounts.
DIRECTED ENDEAVORS, INC. (Hillsborough) – By Consent, the Commission reprimanded Directed Endeavors effective April 1, 2012. The Commission found that Directed Endeavors, a property management firm, failed to properly maintain trust account records as required by Commission rules in that check images did not show both sides of the checks, deposit tickets did not document the applicable tenant and the purpose of the funds, and rental trust account checks were not designated as trust account checks. The Commission also found that Directed Endeavors operated its tenant security deposit account on a shortage of $33,580. The Commission noted that the firm placed funds in the account to cover the shortage.
DAVID B. DOWNING (Kitty Hawk) – By Consent, the Commission suspended the broker license of Mr. Downing for a period of twenty-four months effective December 15, 2011. Two months of the suspension were active with the remainder stayed for a probationary period of twenty-four months. The Commission found that Mr. Downing, acting as broker-in-charge of a real estate brokerage firm and rental agent for rental properties, deducted monies from the security deposits of successive tenants in the same property for damages for which they were not responsible or which did not exist and charged tenants for repairs which were not made or which did not cost as much as the money deducted from the tenants’ deposits. The Commission also found that Mr. Downing failed to maintain complete records of rental transactions and could not in every instance produce receipts or other documents to account for deductions made from tenant security deposits.
BEATRICE HOKE FAIR (Matthews) – By Consent, the revoked the broker license of Ms. Fair effective April 5, 2012. The Commission found that Ms. Fair, in 2007 and 2008, sold two properties to the same buyer and inflated the purchase price of the properties to hide kickbacks to the buyer and that two large payments represented on the closing statement as payoffs were in fact false and were actually made to provide down payments for the buyer. The Commission also found that another payment was misrepresented as being to a construction company, which was actually set up to receive the funds, all without the lenders’ knowledge.
LONNIE W. GLASPIE, JR. (Clinton) – By Consent, the Commission suspended the broker license of Mr. Glaspie for a period of one year effective April 1, 2012. The Commission then stayed the suspension for a probationary period of one year through March 31, 2013. The Commission found that Mr. Glaspie represented a buyer and seller as a dual agent in a transaction in which a tenant purchased the home he had been renting and failed to enter into a written agency agreement with either the buyer or the sellers. The Commission also found that although Mr. Glaspie acted as a dual agent in the transaction, he failed to obtain the written permission of the buyer or sellers to represent them both in the transaction. Finally, the Commission found that Mr. Glaspie failed to advise the sellers that they needed to provide the buyer with a Residential Property Disclosure Statement or a lead-based paint hazard disclosure.
MONROE T. GUALTNEY (Harrisburg) – The Commission accepted the voluntary surrender of the broker license of Mr. Gualtney for a period of four years effective February 13, 2012. The Commission dismissed without prejudice allegations that Mr. Gualtney violated provisions of the Real Estate License Law and Commission rules. Mr. Gualtney neither admitted nor denied misconduct.
NICHOLAS ANDREW JAMES (Knoxville, Tennessee) – By Consent, the Commission suspended the broker license of Mr. James for a period of eight months effective April 15, 2012. The Commission found that Mr. James entered into an agreement with a licensed North Carolina real estate firm to sell real estate in the state and then undertook a course of conduct that would share compensation of the sales commission with an unlicensed marketing firm with principal offices in Knoxville, Tennessee, and of which he was a member, manager or otherwise held an interest.
JAMES WILLS REALTY, LLC (Durham) – The Commission accepted the permanent voluntary surrender of the firm license of James Wills Realty effective April 15, 2012. The Commission dismissed without prejudice allegations that James Wills Realty violated provisions of the Real Estate License Law and Commission rules. James Wills Realty neither admitted nor denied misconduct.
JESSICA LEWIS LEONARD (Knoxville) – The Commission accepted the voluntary surrender of the broker license of Ms. Leonard for a period of one year effective April 5, 2012. The Commission dismissed without prejudice allegations that Ms. Leonard violated provisions of the Real Estate License Law and Commission rules. Ms. Leonard neither admitted nor denied misconduct.
SUE A. LEWIS (Atlantic Beach) – The Commission accepted the voluntary surrender of the broker license of Ms. Lewis for a period of one year effective February 13, 2012. The Commission dismissed without prejudice allegations that Ms. Lewis violated provisions of the Real Estate License Law and Commission rules. Ms. Lewis neither admitted nor denied misconduct.
SUSAN M. LODATO (Asheville) – By Consent, the Commission reprimanded Ms. Lodato effective March 1, 2012. The Commission found that Ms. Lodato co-listed an unimproved lot and represented in the MLS system that a manufactured home could be placed on the lot, but failed to change the representation when shortly after listing the lot, a county-wide zoning ordinance was adopted which prohibited manufactured housing on the lot. The Commission also found that Ms. Lodato acted as dual agent for the sale of the property and again represented to the buyer that a mobile home could be put on the lot; the buyer learned after closing of the restrictions on the lot. The Commission noted that Ms. Lodato refunded her commission to the buyer and has agreed to list the subject lot for the buyer at no charge.
DAZZELL LORENZO MATTHEWS, SR. (Charlotte) – The Commission accepted the voluntary surrender of the broker license of Mr. Matthews for a period of one year effective April 5, 2012. The Commission dismissed without prejudice allegations that Mr. Matthews violated provisions of the Real Estate License Law and Commission rules. Mr. Matthews neither admitted nor denied any misconduct.
VICKIE N. MCDANIEL (Hillsborough) – By Consent, the Commission reprimanded Ms. McDaniel effective April 1, 2012. The Commission found that Ms. McDaniel, acting as broker-in-charge and qualifying broker of a property management firm, failed to properly maintain trust account records as required by Commission rules in that check images did not show both sides of the checks, deposit tickets did not document the applicable tenant and the purpose of the funds, and rental trust account checks were not designated as trust account checks. The Commission also found that Ms. McDaniel operated the firm’s tenant security deposit account on a shortage of $33,580, which had existed for several years and dated to before Ms. McDaniel became broker-in-charge. The Commission noted that Ms. McDaniel placed funds in the account to cover the shortage.
RENE LYNN MERWIN (Raleigh) – The Commission accepted the voluntary surrender of the broker license of Ms. Merwin for a period of three years effective April 5, 2012. The Commission dismissed without prejudice allegations that Ms. Merwin violated provisions of the Real Estate License Law and Commission rules. Ms. Merwin neither admitted nor denied any misconduct.
JAMIE P. MOSS-GODFREY (Rockingham) – By Consent, the Commission suspended the broker license of Ms. Moss-Godfrey for a period of one year effective March 15, 2012. The Commission then stayed the suspension on certain conditions. The Commission found that Ms. Moss-Godfrey, acting as broker-in-charge of a real estate brokerage firm, admitted in 2009 to accessing an email account from a computer in her office and viewing private and personal emails of a former employee.
MOUNTAIN LIFE REALTY LLC (Highlands) – By Consent, the Commission suspended the firm license of Mountain Life Realty for a period of 18 months effective April 1, 2012. The Commission found that Mountain Life Realty, acting as buyer agent for two buyers to purchase two real estate developments, failed to provide the buyers with a “Working With Real Estate Agents” disclosure, and failed to obtain a written agency agreement with either party. The Commission also found that the buyers entered into a contract to purchase the properties, but the transaction did not close, and one of the buyers and another entity subsequently purchased the properties; Mountain Life Realty pursued a claim for a commission against the buyer asserting that it was the buyer’s agent.
GAIL R. MUNSON (Raleigh) – By Consent, the Commission revoked the broker license of Ms. Munson effective March 8, 2012. The Commission found that Ms. Munson performed a number of Broker Price Opinions (BPOs) for various lending institutions and their agents and failed to obtain listing agreements to sell any of the properties examined and failed to confirm with her BPO clients that she had a reasonable opportunity to list the properties on which she performed the BPOs. The Commission also found that Ms. Munson should have known that she had no reasonable opportunity to list the properties on which she performed the BPOs.
NC REAL ESTATE SERVICES CORP (Clinton) – By Consent, the Commission suspended the firm license of NC Real Estate Services for a period of one year effective April 1, 2012. The Commission then stayed the suspension for a probationary period of one year through March 31, 2013. The Commission found that NC Real Estate Services represented a buyer and seller as a dual agent in a transaction in which a tenant purchased the home he had been renting and failed to enter into a written agency agreement with either the buyer or the sellers. The Commission also found that although NC Real Estate Services acted as a dual agent in the transaction, it failed to obtain the written permission of the buyer or sellers to represent them both in the transaction. Finally, the Commission found that NC Real Estate Services failed to advise the sellers that they needed to provide the buyer with a Residential Property Disclosure Statement or a lead-based paint hazard disclosure.
ATUL G. PATHAK (Charlotte) – By Consent, the Commission revoked the broker license of Mr. Pathak effective February 13, 2012. The Commission found that Mr. Pathak incorporated a firm to perform brokerage and property management services, but failed to license the corporation as a real estate firm. The Commission also found that Mr. Pathak failed to enter into written property management agreements but performed property management services for clients. The Commission further found that Mr. Pathak failed to maintain rental records and trust accounts for rental proceeds or security deposits and instead deposited these funds into his personal bank account and converted these rent funds for his own uses.
CLARENCE R. PATTON (Durham) – By Consent, the Commission revoked the broker license of Mr. Patton effective March 15, 2012. The Commission found that Mr. Patton, acting as broker-in-charge of a property management company, failed to maintain his trust account records in compliance with the Real Estate License Law and Commission rules and the liabilities exceeded the funds on hand by approximately $87,000. The Commission noted that Mr. Patton has fully funded the trust accounts.
ROBIN A. PUCKETT (Cornelius) – By Consent, the Commission suspended the broker license of Ms. Puckett for a period of three months effective April 1, 2012. The Commission then stayed the suspension. The Commission found that Ms. Puckett listed a house and lot and advertised the property as having four bedrooms and four bathrooms when the permit for the property allowed only three bedrooms and 3½ baths. The Commission also found that Ms. Puckett failed to discover and disclose the permitted bedrooms and bathrooms to the purchaser.
VICKI P. ROBERTS (Asheville) – By Consent, the Commission reprimanded Ms. Roberts effective May 1, 2012. The Commission found that Ms. Roberts, as listing agent for an unimproved lot, knew of issues relating to the lot, which were discovered by a prospective buyer who cancelled a contract to purchase it, and failed to disclose those issues to a second purchaser who only discovered the problems after closing. The Commission noted that Ms. Roberts refunded her commission to the purchaser.
RPM GROUP BROKERAGE, LLC (Knoxville, Tennessee) – By Consent, the Commission permanently revoked the firm license of RPM Group Brokerage. The Commission found that RPM Group Brokerage contracted with an unlicensed firm which shares a common, unlicensed owner to sell real estate in North Carolina and then undertook a course of conduct that would share compensation from the sales commission with the unlicensed firm.
CHARLIE E. RUNION (Greenville) – By Consent, the Commission suspended the broker license of Mr. Runion effective February 15, 2012 for a period of one month ending March 15, 2012. The Commission found that Mr. Runion renewed his nonresident North Carolina license on active status on May 16, 2011, certifying that he held a current license in his home state, but unknowingly had allowed his home state license to expire.
DAVID SCHEERER (Highlands) – By Consent, the Commission suspended the broker license of Mr. Scheerer for a period of 24 months effective December 1, 2011. The Commission found that Mr. Scheerer, acting as buyer agent for two buyers to purchase two real estate developments, failed to provide the buyers with a “Working With Real Estate Agents” disclosure, and failed to obtain a written agency agreement with either party. The Commission also found that the buyers entered into a contract to purchase the properties, but the transaction did not close, and one of the buyers and another entity subsequently purchased the properties; Mr. Scheerer, acting as broker-in-charge of his real estate brokerage firm, pursued a claim for a commission against the buyer, asserting that he was the buyer’s agent.
SEA BREEZE REALTY OF THE OUTER BANKS, LLC (Kitty Hawk) – By Consent, the Commission suspended the firm license of Sea Breeze Realty for a period of twenty-four months effective April 15, 2011. The Commission then stayed the suspension for a probationary period of twenty-four months. The Commission found that Sea Breeze Realty, acting rental agent for rental properties, deducted monies from the security deposits of successive tenants in the same property for damages for which they were not responsible or which did not exist and charged tenants for repairs which were not made or which did not cost as much as the money deducted from the tenants’ deposits. The Commission also found that Sea Breeze Realty failed to maintain complete records of rental transactions and could not in every instance produce receipts or other documents to account for deductions made from tenant security deposits.
SEMBER L. SMATHERS (Charlotte) – The Commission accepted the permanent voluntary surrender of the broker license of Mr. Smathers effective March 8, 2012. The Commission dismissed without prejudice allegations that Mr. Smathers violated provisions of the Real Estate License Law and Commission rules. Mr. Smathers neither admitted nor denied misconduct.
ROBERT J. SMITH (Charlotte) – By Consent, the Commission suspended the broker license of Mr. Smith for a period of 18 months effective January 15, 2012. The Commission found that Mr. Smith, in September 2009, entered into a property management agreement with a landlord client using a standard North Carolina Association of REALTORS® form which included the name of the firm with which he was then associated at the top of the form, but terms of the agreement identified Mr. Smith and his unlicensed firm as property managers. The Commission also found that the unlicensed firm was not registered to do business with the North Carolina Secretary of State and that Mr. Smith never submitted a Broker-in-Charge Declaration for himself as sole proprietor. The Commission further found that, in March 2010, Mr. Smith and his unlicensed firm were again identified as property manager on a rental agreement with a tenant for the subject property and after Mr. Smith left the licensed firm with which he was associated, he continued to manage the property under the unlicensed firm and without an associated broker-in-charge. Finally, the Commission found that Mr. Smith provided incomplete escrow account records to a Commission investigator which showed unaccounted for funds in the account and deficit spending; Mr. Smith acknowledged that he cashed rental proceeds and then deposited the cash into the landlord’s account instead of depositing the rent checks into his trust account.
SUZANNE SMITH (Asheville) – By Consent, the Commission reprimanded Ms. Smith effective March 1, 2012. The Commission found that Ms. Smith, acted as co-listing agent on an unimproved lot and represented in the MLS system that a manufactured home could be placed on the lot, but failed to change the representation when shortly after listing the lot, a county-wide zoning ordinance was adopted which prohibited manufactured housing on the lot. The Commission also found that Ms. Smith acted as dual agent for the sale of the property and again represented to the buyer that a mobile home could be put on the lot; the buyer learned of the restrictions on the lot after closing. The Commission noted that Ms. Smith refunded her commission to the buyer and has agreed to list the subject lot for the buyer at no charge.
NATASHA A. STARGHILL (Colfax) – By Consent, the Commission suspended the broker license of Ms. Starghill for a period of two years effective December 1, 2011. The Commission found that Ms. Starghill, acting as broker-in-charge of a real estate brokerage firm, allowed her broker-in-charge eligibility to lapse in February, 2007, and arranged for another broker, not then associated with her firm, to act as the BIC. The Commission also found that Ms. Starghill failed to designate the new broker-in-charge with the Commission although she believed she had done so and, during this period, continued to act as BIC with the other broker having no involvement with the firm. The Commission further found that, in 2009, Ms. Starghill served as buyer’s agent for a client and had a broker whose license was on inactive status step in to complete the transaction when Ms. Starghill became unavailable. The Commission finally found that Ms. Starghill did not attend the closing or review the settlement statement, thus failing to determine that a $1,000 seller loan had not been disclosed to the lender and, while under investigation for alleged failure to repay a loan on a real estate investment deal, Ms. Starghill failed to timely respond to the Commission investigator’s request for information.
TRI-CITY REALTY, LLC (Rockingham) – By Consent, the Commission suspended the firm license of Tri-City Realty for a period of one year effective March 15, 2012. The Commission then stayed the suspension on certain conditions. The Commission found that the broker-in-charge and other agents of the firm admitted in 2009 to accessing an email account from a computer in the firm’s office and viewing private and personal emails of a former employee.
UNITED COUNTRY COASTAL HOMES, LLC (Shallotte) – By Consent, the Commission suspended the firm license of United Country Coastal Homes for a period of 18 months effective March 1, 2012. The Commission then stayed the suspension. The Commission found that during 2008 United Country Coastal Homes listed a house and lot for $39,900, submitted an offer to purchase for $35,000 to its seller client on behalf of an entity it owned and controlled, but failed to submit an offer from a competing purchaser for $44,000. The Commission also found that during 2009, United Country Coastal Homes listed a condominium and submitted an offer to purchase from a buyer client without informing its seller client of another firm’s interest in making an offer and did not give the competing purchaser an opportunity to make an offer on the property as United Country Coastal Homes promised.
KIMBERLY B. WHITLEY (Rockingham) – By Consent, the Commission suspended the broker license of Ms. Whitley for a period of one year effective March 15, 2012. The Commission then stayed the suspension on certain conditions. The Commission found that Ms. Whitley, acting as a broker associated with a real estate brokerage firm, admitted in 2009 to accessing an email account from a computer in her office and viewing private and personal emails of a former employee.
LINDA C. WILLIAMSON (Leland) – By Consent, the Commission reprimanded Ms. Williamson effective November 1, 2011. The Commission found that Ms. Williamson prepared an Offer to Purchase and Contract and addendum documents in a lease-purchase transaction; the contract specified that the $15,000 earnest money deposit would be held in escrow by the unlicensed seller and that Ms. Williamson had an ownership interest in the property; contrary to the contract terms, the earnest money deposit was written directly to Ms. Williamson and to the seller. The Commission also found that the buyer-tenant was eventually evicted for non-payment of rent and the seller and Ms. Williamson refused to refund the $15,000 claiming that the buyer-tenants understood that the monies were non-refundable.
JAMES L. WILLS, IV (Durham) – The Commission accepted the permanent voluntary surrender of the broker license of Mr. Wills effective April 15, 2012. The Commission dismissed without prejudice allegations that Mr. Wills violated provisions of the Real Estate License Law and Commission rules. Mr. Wills neither admitted nor denied misconduct.
JEFFREY T. WILLIS (Holly Springs) – By Consent, the Commission suspended the broker license of Mr. Willis for a period of one year effective March 1, 2011. The Commission found that Mr. Willis, as broker-in-charge of a real estate brokerage and property management firm, charged unauthorized fees to home purchasers subject to the regimes of their association clients. The Commission also found that Mr. Willis failed to maintain homeowner association money in an exclusive trust account designated with the words “trust” or “escrow”, and failed to keep accurate and complete records of the monies they held for their landlord clients and their tenants. Finally, the Commission found that Mr. Willis, acting as a broker for homebuyers and sellers and as trustee for earnest money deposits failed to keep accurate and complete records of clients’ monies in his care and failed to accurately and promptly account for the funds of others in his custody.
WALTER L. WOODDELL (Goldsboro) – By Consent, the Commission suspended the broker license of Mr. Wooddell for a period of 36 months effective May 1, 2011. One month of the suspension was active with the remainder stayed for a probationary period of 35 months effective May 31, 2011. The Commission found that Mr. Wooddell, acting as broker and property manager for firms which disposed of foreclosed residential property, procured clean-out services based upon competitive bids from independent contractors and that, in certain instances, Mr. Wooddell obtained bids from persons related by marriage to Mr. Wooddell without first obtaining formal written consent from his client. The Commission also found that Mr. Wooddell, in other instances, created invoices which appeared to be prepared by the contractors when, in fact, the invoices were not prepared by the contractors. Mr. Wooddell neither admitted nor denied the facts or conclusions of the Commission set out in the Consent order, but nevertheless consented to the suspension of his broker license as provided in the order.
JAMES R. WOODS (Jonesboro, Tennessee) – By Consent, the Commission reprimanded Mr. Woods effective February 13, 2012. The Commission found that Mr. Woods, acting as an auctioneer and real estate broker, auctioned a residential home for a sales commission; Mr. Woods used a preprinted sales contract form which lacked many required provisions and included provisions concerning the payment of a sales commission to Mr. Woods and a disclaimer of liability for false advertising. The Commission noted that the noncompliant sales contract did not cause any harm that a standard or lawful preprinted contract would have prevented.
This article came from the May 2012-Vol43-1 edition of the bulletin.